By Canadian Press

$452B federal budget focused on affordability, innovation

Apr 7, 2022 | 2:10 PM

OTTAWA — Finance Minister Chrystia Freeland’s second pandemic budget turns Canada’s fiscal focus to making life more affordable for people and giving a long-needed boost to Canadian productivity.

But Freeland is wrapping the budget in copious amounts of yellow caution tape, warning of extreme economic uncertainty posed by Russia’s invasion of Ukraine and the lingering effects of COVID-19.

She makes clear the budget is winding down pandemic-related spending that headlined the last two years, shifting to social economic drivers like housing, immigration and child care.

That should help the Liberals pass this budget easily given their new deal with the New Democrats, with multiple NDP priorities such as dental care, green jobs and a tax on excess bank profits making the cut.

Freeland warns heavily about the security threat posed by Russia’s aggression in Europe, responding with more than $8 billion in new defence spending and up to $1 billion more in new loans for Ukraine.

WHAT'S ON

Here is what's on this weekend in Medicine Hat and area: Dec. 13-15

22h ago

IN THE COMMUNITY

Medicine Hat's Mustard Seed adding new shelter spaces at Alberta government's request

Dec 12, 2024

HOLIDAYS

Medicine Hat Kiwanis hosting Christmas dinner, applications due Friday

Dec 12, 2024

Federal spending falls to $452 billion in the new fiscal year with a deficit of $52 billion, which are the lowest figures since before the pandemic but still significantly above pre-pandemic levels.

READ MORE

Flush from booming economy, Feds eye growth with $31B in new spending

A look at some of the promises you might have missed

A checklist of promises that were in the Liberal-NDP confidence deal

Liberals rejig $15B toward new business investment fund

Canada won’t meet NATO target with more than $8B in new military funding

$500M in military aid to Ukraine, projects economic upheaval from war

A look at the highlights of the federal Liberal fiscal plan

Budget 2022 makes good on dental care, but little in new health spending

Budget 2022 devotes $4.3 billion to Indigenous housing needs

Housing supply gets $10B boost; Feds add measures to curb speculation

Quotes from the finance minister and others on the Liberal fiscal plan

This report by The Canadian Press was first published April 7, 2022.

The Canadian Press