The Liberals move from borrow and spend, to tax and spend

Prime Minister Justin Trudeau , Finance Minister Chrystia Freeland and cabinet ministers speak before tabling of the federal budget on Parliament Hill in Ottawa, on April 16.For nearly a decade, the Liberals have been a borrow-and-spend government, going so far as to preach the absolute virtue of debt financing.

Instead, Ottawa’s spending spree will continue – but will now be financed with hefty new taxes, totalling $21.9-billion over five years.In a very limited way, that is good news: the Liberals will hit the fiscal marks that Finance Minister Chrystia Freeland promised last year in the Fall Economic Statement. Tax increases will offset some of the inflationary impact of higher federal spending. Even so, debt charges are forecast to rise to $64.

The Liberals head in the opposite direction, in the name of “fairness.” Program spending is slated to rise to 16 per cent of GDP in the current fiscal year, up from 15.6 per cent last year. And yet, there are nuggets within the federal budget that could have been the start of an ambitious agenda to jump-start the Canadian economy.

Canada News Breaking News Video Canadian Breaking News Breaking News Globe And Mail Breaking News Globe And Mail Canada News Photos World News Local News National News Us News Foreign News Sports News Arts News Life News Lifestyle Canada Traffic Canada Weather Trudeau Government Federal Government Canada Sports Canada Sports News Politics Politics News Political News Political Opinion Environment Economy Technology Education Travel Canada Alberta Bc British Columbia Manitoba Ontario Quebec Nova Scotia Pei New Brunswick Newfoundland And Labrador Nunavut Northwest Territories Yukon Globe And Mail

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Toronto playground dog attack: owner previously found to be 'irresponsible' by courtThe woman charged in connection with a dog attack in Toronto that left a nine-year-old child with 'life-altering injuries' has previously been found by a court to be an irresponsible dog owner, CTV News has learned.
Source: CP24 - 🏆 30. / 67 Read more »

Woman charged in Toronto dog attack previously deemed 'irresponsible' pet ownerTORONTO — A Toronto woman facing multiple charges in a dog attack that seriously injured a child was previously deemed an “irresponsible” owner of dangerous dogs and subsequently ordered evicted from her apartment, according to court records and her
Source: sudburydotcom - 🏆 6. / 89 Read more »

Woman charged in Toronto dog attack previously deemed 'irresponsible' pet ownerTORONTO — A Toronto woman facing multiple charges in a dog attack that seriously injured a child was previously deemed an “irresponsible” owner of dangerous dogs and subsequently ordered evicted from her apartment, according to court records and her
Source: SooToday - 🏆 8. / 85 Read more »

'Irresponsible' ATV riders to blame for Cape Breton cemetery damage, resident and councilllor sayExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

'Irresponsible' ATV riders to blame for Cape Breton cemetery damage, resident and councilllor sayExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Ontario Liberals rule out provincial carbon tax as part of 2026 election platformMississauga Mayor Bonnie Crombie was voted to become the next Ontario Liberal Party leader on the third ballot at the Ontario Liberal Party Leadership Convention, Saturday Dec 2, 2023 at the Metro Convention Centre. She then spoke to reporters.
Source: CBCToronto - 🏆 51. / 61 Read more »