My good friend, Jack, installed a budgeting app on his phone to get a handle on his excessive costs of living . “Tim, after tracking my spending for a while I realize how much I spend on beer every month. I can’t keep doing this” he said. “So, what are you going to do?” I asked. “I deleted the app” he replied. If Jack spends more than he’s bringing in each month, he’s going to run into financial problems pretty quickly. Our federal government, on the other hand, is used to operating this way.
In fact, when the 2024 federal budget is unveiled on April 16, it’s expected that the deficit for the 2024-25 fiscal year will be about $38-billion. What should we expect in this year’s budget? Let me share the top 10 things that could impact Canadians. 1. Costs of living. A basket of goods and services in Canada that cost one dollar in January, 2019, cost $1.18 five years later in January, 2024. Given that the 2024 federal budget should be thought of as a pre-election budget, I expect that the government will focus on reducing the cost of groceries, telecommunications and housing.
Source: Real Estate Daily Report (realestatedailyreport.net)
2024 Federal Budget Costs Of Living Expenses Groceries Telecommunications Housing
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