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CPAC: Budget 2016

Watch our live coverage and follow for real-time updates and information as the Liberal government tables its first federal budget in the House of Commons.

  • BUDGET 2016: KEY HIGHLIGHTS

    1) The federal deficit is now expected to reach $29.4 billion for 2016-17, $29.0 billion for 2017-18, and $22.8 billion for 2018-19, with no clearly-defined timetable to return to balance.

    2) Major infrastructure spending (more than $120 billion over 10 years) is possible because of Canada’s low debt-to-GDP ratio and low interest rates, according to Finance Minister Bill Morneau. 

    3) Canada’s indigenous peoples will receive $8.4 billion funding over five years, including money for education, infrastructure, and social services.

    4) Employment Insurance benefits will be extended in regions hit hard by the global dip in commodity prices, including Alberta, Saskatchewan, and Newfoundland and Labrador.

    5) The Liberal campaign pledge of a new Canada Child Benefit – a single, tax-free payment tied to income – will be in place by July 2016. 

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