There is more to the budget鈥檚 $39.3 billion in new spending than big ticket items. It is an election budget, with lots of promises and聽a little bit of money in there for nearly everyone.
Finance Minister Chrystia Freeland tabled her latest budget Tuesday, with big spending plans to increase the housing supply, deliver on commitments to Indigenous people, boost funding to the Canadian military and finally deliver on a promise to create a 91原创 Disability Benefit.
But there is more to the budget鈥檚 $39.3 billion in new spending than just those big ticket items. There is a little bit of money in there for nearly everyone. It is an election budget, with lots of promises, most of which start to kick in next year. And to pay for it all, without sinking further into deficit and blowing past Freeland鈥檚 debt-to-GDP ratio, the federal government is increasing the inclusion rate on capital gains, affecting business investments and, with some exceptions, those Canadians earning more than $250,000 from capital gains annually.
This week on 鈥It鈥檚 Political,鈥 we鈥檒l look at the government鈥檚 2024 spending plan and its decision to target capital gains as a way of raising taxes with economists Armine Yalnizyan and Christopher Ragan. But before that discussion, we鈥檒l unpack the budget process and look at the last budget, the 2023 budget, and review its forecasts, its promises and what it actually delivered on.
ARTICLE CONTINUES BELOW
ARTICLE CONTINUES BELOW
Some of the clips this week were sourced from CPAC, and Right Side Broadcasting.
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This episode of 鈥It鈥檚 Political鈥 was produced by Althia Raj and Michal Stein, and mixed by Kevin Sexton. Our theme music is by Isaac Joel.
In this episode: Armine Yalnizyan, an economist and Atkinson Fellow on the Future of Workers, Christopher Ragan, the director of McGill University鈥檚 Max Bell School of Public Policy, Heather Scoffield, senior vice president of strategy at the Business Council of 91原创, Yves Giroux, the Parliamentary Budget officer, Tyler Meredith, a senior fellow at the Munk School and former budget crafter to Prime Minister Justin Trudeau, Kevin Page, the president and CEO of the Institute of Fiscal Studies and Democracy at the University of Ottawa, and Evert Lindquist, a University of Victoria School of Public Administration professor. Hosted by Althia Raj.
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