that promises $10-billion to make housing more affordable for Canadians, provides $8-billion in new defence spending, and aims to spur economic growth through green initiatives and a small-business tax cut.
The source said Ottawa will boost defence spending by $8-billion over roughly five years, largely to upgrade the North American Aerospace Defense Command , the continental defence system, and to buy weapons for Ukraine in its war against Russia. The additional money will not be enough to increase Canada’s military spending from the current level of 1.34 per cent of GDP to the 2 per cent requested by NATO.
Dan Kelly, president of the Canadian Federation of Independent Business, said his organization has long called for such a change. Mr. Kelly said on Wednesday that this would be “welcome news” and would encourage more small businesses to grow to medium-sized.As promised during last year’s election campaign, the source said, the budget aims to tackle soaring prices for housing. The Liberals will spend $4-billion to build 100,000 new homes in urban areas by 2025, and $2.
On climate change, a second senior government source said Ottawa will provide tax incentives to oil and gas companies to invest in carbon capture and storage. Budget measures will also include incentives to increase the use of hydrogen and renewable fuels, and to get Canadians and businesses to shift to zero-emission vehicles. The Globe is not identifying the source, who was not authorized to speak about budget matters.
Private sector economists say stronger revenue forecasts since December likely mean that trend could be steeper, but it will depend on how much new spending is announced in Thursday’s budget.
Well in my town we are building dense unwalkable dross but it is housing and that is all that matters, it seems. No matter if there are six lane roads to cross to get to the only big box store in town. Nobody in Canada builds the equivalent of a European town or suburb.
All the people who had to pay way too much for their homes over the last 5 years are going to love subsidizing other people’s house too.
I see the LiberalsNDP are espousing thier propaganda blaming housing prices on foreign buyers. It was LiberalsNDP largese forCERBEI had people sitting on money started bidding war's for housing INFLATION.BoC low interest rate had people borrowing money for housing and renovations
100k new homes means nothing if the urban planning around them isn't walk/transport-centric and the economy is still asset based. how much of those homes are allocated towards affordability projs and NOT lotteries?