The Trudeau government’s first budget is forecasting a deficit of $29.4-billion dollars for 2016-2017 and promises to invest $120-billion in infrastructure over the next decade and $8.4-billion in First Nations, the Inuit and the Metis.
The budget, called Growing the Middle Class, was tabled today in the House of Commons by Finance Minister Bill Morneau who said in his speech that “Canada will not prosper if the middle class does not prosper.”
The first phase of the infrastructure plan will see $11.9-billion spent over the next five years on public transit, water and wastewater, affordable housing and protecting existing projects from the effects of climate change.
Morneau says one of the highlights is the elimination of the former Conservative child tax credit which is being replaced with a Liberal program.
“Families with children under 18 will receive the benefit starting in July. The size of each cheque will depend on the family but 9 out of 10 families will get more help than they do under existing programs,” says Morneau.
The new Canada Child Benefit will help families more than any other public policy since universal healthcare. pic.twitter.com/tyepwXhv5w
— Bill Morneau (@Bill_Morneau) March 22, 2016
The government is extending Employment Insurance benefits in regions hard hit by the drop in oil prices. There is $78-million set aside to reopen Veterans Affairs officers that were closed by the Conservatives. $1.53-billion is being spent to increase Canada student grants over five years.
#Budget2016 also provides more than $200M over five years on public safety, search & rescue, counter-radicalism & cybersecurity measures.
— Justin Trudeau (@JustinTrudeau) March 22, 2016
Meantime, there was sharp criticism on the opposite side of the floor in the House of Commons and on social media.
We can’t trust them to manage the economy. Borrowed money must be repaid & that’s why taxes are already going up. pic.twitter.com/b9WUM2shJ1
— Rona Ambrose (@RonaAmbrose) March 31, 2016
The government missed an opportunity to really deliver change. #cdnpoli #ndp #budget2016 https://t.co/9yOWZ00irN
— Tom Mulcair (@ThomasMulcair) March 25, 2016
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Our reaction to Budget 2016:In short, some encouraging initiatives and improvements over Harper’s Conservatives, but this budget misses the mark on climate action.
Posted by Elizabeth May on Tuesday, March 22, 2016
