Well, today is the Liberal/NDP Non-Coalition Coalition Budget Day!
- Thread starter Ron in Regina
- Start date
Those who cannot pay Trudeau with money, will pay with their servitude. And those refuse servitude, will be pushed into the cold with nothing but fentanyl to eat.
OTTAWA (Reuters) - Canada’s ruling Liberals will unveil their 2022 budget on Thursday, which Prime Minister Justin Trudeau promised will be “fiscally responsible” after having already pledged billions in new programs and increased military spending.
With Canada’s economy fully recovered from the pandemic, Trudeau’s Liberals find themselves under pressure to pull back from new spending for fear of further torching runaway inflation, already at a 30-year high.
“The ultimate impact of higher spending will depend on the precise policy measures,” said Stephen Brown, senior Canada economist at Capital Economics in a note to investors.
“But, with the economy already at full capacity, the clear risk is that any extra stimulus will exacerbate inflationary pressures.”
The budget will be presented to Parliament around 4 p.m. ET (2000 GMT) by Finance Minister Chrystia Freeland.
apple.news
With Canada’s economy fully recovered from the pandemic, Trudeau’s Liberals find themselves under pressure to pull back from new spending for fear of further torching runaway inflation, already at a 30-year high.
“The ultimate impact of higher spending will depend on the precise policy measures,” said Stephen Brown, senior Canada economist at Capital Economics in a note to investors.
“But, with the economy already at full capacity, the clear risk is that any extra stimulus will exacerbate inflationary pressures.”
The budget will be presented to Parliament around 4 p.m. ET (2000 GMT) by Finance Minister Chrystia Freeland.
Canada targets housing, banks in modest-spending budget — Reuters Canada
Canada's Liberals put red-hot real estate markets squarely in their sights on Thursday, laying out a budget geared at boosting housing affordability amid soaring inflation, while promising modest new spending to encourage medium-term growth.
Not sure if Chrystia Freeland looks like she’s ready to rob a bank or deliver a budget here but it’s the cover pic for a Globe & Mail paywalled story on the upcoming budget today:
But, Sunny Ways!? Budget will balance itself (?) ‘cuz it’s 2015 Peoplekind?
NDP Leader Jagmeet Singh should have pushed for a formal coalition with the Liberals. He could have been finance minister and taken full credit for Thursday’s budget, which, if he didn’t write it, is certainly being written to appease him.
The budget is expected to include a whole slate of costly and expansive NDP priorities that will combine with the Liberals’ own pricey policies to create not just big government, but mammoth government: a government that is not just big in terms of how much it spends, but in its ambition to federalize every area of Canadian life.
Carson Jerema: Buckle up for the Jagmeet Singh budget — National Post
Ottawa grows ambitions to micromanage every area of Canadian life
In her new budget, Finance Minister Chrystia Freeland will have the difficult task of combining costly election platform promises, increased spending for defence to meet NATO’s targets as well as enough social spending to make sure the New Democrats are happy.
At the same time, she will have to make sure to keep a decreasing debt-to-GDP ratio, the Liberals’ core fiscal anchor, to demonstrate that Canada’s finances are sustainable.
apple.news
Liberals promised $78 billion in five years in new spending in their election platform last fall — which included $25 billion in targeted amounts for health care for provinces and territories and a $15-billion plan to help first-time homebuyers and to build new affordable homes in hopes of solving the housing crisis.
After the fall economic statement, nearly $50 billion of these platform promises had not been budgeted yet. And that does not include the billions that have been added, here and there, to help provincial and territorial health sectors cope with delayed surgeries (an additional $2 billion top up) or to invest in the production of critical minerals for electric vehicles ($2 billion).
The federal government also unveiled more than $9 billion in new spending last week for reducing emissions, with more billions expected for carbon capturing and storage.
Then, there’s defence spending that is expected to ramp up significantly in order to meet NATO’s target of two per cent of GDP. Canada has fallen far below it in recent years, contributing only 1.36 per cent of its target in 2021. And the deal with the NDP will add more social spending to the mix, with investments in a dental care program expected as soon as this year.
The fall economic statement expected a deficit of $58.4 billion in the upcoming year, with the federal debt representing 47.3 per cent of the GDP. That number is expected to go down over time as projected, which could be sustainable, according to Askari, unless another very expensive program promised to the NDP, such as pharmacare, is added to the mix.
“That is the one that is going to get you into trouble in terms of long term sustainability.”
The budget will be presented to Parliament in another 6 & 1/2 hours by Finance Minister Chrystia Freeland.
At the same time, she will have to make sure to keep a decreasing debt-to-GDP ratio, the Liberals’ core fiscal anchor, to demonstrate that Canada’s finances are sustainable.
Expect billions more in social spending, housing and defence in today's budget — National Post
Finance Minister Chrystia Freeland has to balance new expectations this year
Liberals promised $78 billion in five years in new spending in their election platform last fall — which included $25 billion in targeted amounts for health care for provinces and territories and a $15-billion plan to help first-time homebuyers and to build new affordable homes in hopes of solving the housing crisis.
After the fall economic statement, nearly $50 billion of these platform promises had not been budgeted yet. And that does not include the billions that have been added, here and there, to help provincial and territorial health sectors cope with delayed surgeries (an additional $2 billion top up) or to invest in the production of critical minerals for electric vehicles ($2 billion).
The federal government also unveiled more than $9 billion in new spending last week for reducing emissions, with more billions expected for carbon capturing and storage.
Then, there’s defence spending that is expected to ramp up significantly in order to meet NATO’s target of two per cent of GDP. Canada has fallen far below it in recent years, contributing only 1.36 per cent of its target in 2021. And the deal with the NDP will add more social spending to the mix, with investments in a dental care program expected as soon as this year.
The fall economic statement expected a deficit of $58.4 billion in the upcoming year, with the federal debt representing 47.3 per cent of the GDP. That number is expected to go down over time as projected, which could be sustainable, according to Askari, unless another very expensive program promised to the NDP, such as pharmacare, is added to the mix.
“That is the one that is going to get you into trouble in terms of long term sustainability.”
The budget will be presented to Parliament in another 6 & 1/2 hours by Finance Minister Chrystia Freeland.
Finance Minister Chrystia Freeland may effectively tell the Bank of Canada it’s on its own in tackling inflation when she introduces a budget Thursday that’s expected to be full of new spending initiatives.
In the lead-up to the release, Prime Minister Justin Trudeau’s government has indicated it remains more committed to delivering new social programs than repairing fiscal damage from the pandemic or cooling an overheated economy.
apple.news
The punchline is supposed to come in a little over six hours now….
In the lead-up to the release, Prime Minister Justin Trudeau’s government has indicated it remains more committed to delivering new social programs than repairing fiscal damage from the pandemic or cooling an overheated economy.
Trudeau Budget Will Complicate Bank of Canada Inflation Fight — Bloomberg
Finance Minister Chrystia Freeland may effectively tell the Bank of Canada it’s on its own in tackling inflation when she introduces a budget Thursday that’s expected to be full of new spending initiatives.
The punchline is supposed to come in a little over six hours now….
Easy-peasy. The equation is quite simple:
Revenues collected - expenditures = 0 (after application of GROWTH! and INVESTMENT IN OUR FUTURE!)
Some MAGIC! may be necessary.
Revenues collected - expenditures = 0 (after application of GROWTH! and INVESTMENT IN OUR FUTURE!)
Some MAGIC! may be necessary.
The budget is expected to include a whole slate of costly and expansive NDP priorities that will combine with the Liberals’ own pricey policies to create not just big government, but mammoth government: a government that is not just big in terms of how much it spends, but in its ambition to federalize every area of Canadian life.
Expect billions more in social spending, housing and defence in today's budget
nationalpost.com
Expect billions more in social spending, housing and defence in today's budget
Finance Minister Chrystia Freeland has to balance new expectations this year
The budget will be presented to Parliament in less than two hours by Finance Minister Chrystia Freeland.
The weight of that budget seems very taxing…..
The weight of that budget seems very taxing…..
She should have went with a pair of crocs. I doubt those are carbon fiber composite heels.