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Is the Federal Budget Good or Bad for You? Good or Bad for Canada?

over 1 year ago

The new Liberal government delivered its budget Tuesday. In an effort to spur economic growth after almost a decade of fiscal restraint the Budget will add more than $100 billion to the federal debt over the next five years.

There’s billions in new spending on infrastructure, Aboriginal Peoples, and transfers to middle and lower income Canadians. The Liberals claim their budget will create 100,000 jobs and boost national economic growth, as measured by gross domestic product, by half a percentage point per year.

During last year’s campaign, the Liberals promised “modest deficits” of no more than $10 billion over the course of their mandate and to balance the books by 2019-20. However, the Liberals are now projecting a $29.4-billion deficit in 2016-17, followed by a $29-billion shortfall the following year and almost $23 billion in 2018-19. The Budget projects a $14.3 billion deficit in 2020-21 – after the next scheduled federal election.

The budget promises new studies and commissions to develop more innovative economic policy, presumably with future price tags on top of the many funding announcements in the current budget. These include:
  • $8.4 billion over five years to help indigenous communities, including $2 billion on water and wastewater systems in First Nations and $2.6 billion over five years for primary and secondary education on reserves.
  • $10 billion more over two years for a new Canada child benefit, absorbing and replacing both the Canada child tax benefit and the universal child care benefit.
  • $6.6 billion over two years for infrastructure, less than the $10 billion promised in the Liberal election platform.
  • $3.4 billion over five years to increase the guaranteed income supplement top-up benefit for single seniors, and restore the old age security eligibility age to 65 from 67.
  • $2 billion over three years for a new strategic investment fund for infrastructure improvements at colleges and universities.
  • $2 billion over two years for a low-carbon economy fund, beginning in 2017-18.

Is the Federal Budget good or bad for you? Good or bad for Canada?

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CorinneB 4 months ago
It could be good for the Canadians. If it requires more jobs and opportunities for Canadian citizens
Kermit-the-Frog over 1 year ago
Budget 2016 provide important first steps towards righting 250 years of wrongs to Canada's Indigenous peoples... but more work is still. needed. The proportionate universality of the new Canada child benefit is an important advancement in social supports and the elimination of the costly but ineffective tax credits brought in by the former government are an important change as well. The infrastructure spending (sexy and not-so-sexy) will support economic recovery and the social infrastructure spending (specifically on social housing) will help raise up the most vulnerable among us.
Cooper Brown about 1 year ago
If they really wanted to right the wrongs, it should start with ownership. Native people have no ownership, they do not own their house or the property it sits on. If you want to give people worth, give them something they can call there own. Why do you think rental properties are always so run down. That problem transcends ALL races and colour. Throwing money at a cause or group will not make it prosper, it will only lead to more hands being held out.
Cooper Brown about 1 year ago
It appears that the only ones that like this budget are the media and those that do not contribute very much to the Canadian society. Folks that basically just get by due to environment or pure lack of ambition.Now separate this question and propose it to the hard working, tax paying Canadian and I'm pretty sure you would be hard pressed to find anyone supporting it.
Kate about 1 year ago
You mean like the single mothers who have 5 babies from 5 different baby daddies, collect welfare, get child support from baby daddies whom are not the Father of the other children, so are paying for 4 kids when only ONE is theirs. FRO making them pay support for all kids because they lived with them at ONE point of their very young lives. NON WORKING SINGLE WOMAN with 5 kidsTotal of ALL NON TAXABLE income/credits THIS YEAR she will get $101,000.00 in income? 1. New CTB by Trudeau $28,248.00 - non taxable (how many working 2 jobs make this?) 2. Prov Child benefit 5,344.00 - non taxable3. UCCB till June/16 2,040.00 has to be claimed but she has NO income - over in June/164. OTB 1,937.00 - non taxable5. GST 1,132.00 - non taxable6. Welfare 22,608.00 - non taxable goes in income/comes back out 7. CPP Survivor self 4,060.32 has to be claimed but she has NO other income8. CPP Survivors (5) kids 27,200.00 NON taxable slips issued to the kids ($5,440.00 each child)9. Child support (2 kids) 12,000.00 for their OWN kids - being 6,000.00 ea Father pays per yr10. Child support (2 kids) 7,200.00 for the 2 children NOT THEIRS - the 5th child just 5 mnths old not liable for**because 9 & 10 are CHILD SUPPORT and NOT SPOUSAL SUPPORT...SHE does not have to claim**TOTAL INCOME $ 117,769.32 IS THIS THE WORKING MIDDLE CLASS HE TALKED ABOUT? SERIOUSLY?all 5 children issued $5,440 T4Ap slips issued late this year and in their name...one child is 5 months old, 2 yr, 5 yr, 6 yr, 8 yr ) Yes, I called first the CRA and then CPP in April when oodles and oodles of these were showing up on my desk asking as too why kids are now receiving T4AP slips? CPP told me that in the beginning of March the NEW Government told them to send them out to the kids! Hmm.... I see it when the child is OLD enough to file a return....so to fit the promise on the campaign trail to keep the Promise of the Single parent with 1 child and making under $30,000.00 K mark for the new CTB, scenario single parent with ONE CHILD and all benefits...was a method of making that come true for them to get the NEW monthly CTB in the 1,000.00++ per month rangeWelfare sees her income as $4,060.32 from Survivor's Benefit CPP!This is JUST ONE CLIENTS RETURN FOR 2015
KoKoKoKwe over 1 year ago
I am delighted with the budget that has a focus on social projects and infrastructure. Such a breath of fresh air. People are not 'things' and money is not the most important of all things. We need a combination of focus - people and goals and I believe this budget meets that requirement. No one can have everything at once and this is a HUGE step in the right direction. As a Metis senior, I am benefitted for certain.
Kate about 1 year ago
Right you are as Metis, but what about the rest of the Country that isn't?
Mucho over 1 year ago
Yes after years of misspending and corruption by the Harperites this budget delivers to a lot of Canadians who have been hurt by 10 dark years.
KoKoKoKwe over 1 year ago
I agree completely with every word you have said. It is only as the light gets in and the air is becoming fresher that we realize how very despairing Canadians have been. Let's not let that happen again.
Kate about 1 year ago
Bah humbug...the Liberals are the most corrupt in history! You best be doing some fact checking and learn the history of what happened and by whom.
Mike Colledge, President Ipsos Public Affairs over 1 year ago
Budgets are part short term politics and part long term policy. We won't know if was truly good or bad policy for a few years (when we see if it achieves its objectives of economic growth) and even then there are many other factors that will come into play so the key for all governments is to make sure it was well received in the days and weeks after its release.
Winter over 1 year ago
Everything looks great on paper... we will see if it ever comes into reality.
Bean over 1 year ago
Uniformly bad. Borrowing massively to spend on social programs does not boost or transform the economy. In three years, when it hasn't worked, the Government will claim that it needs to borrow even more and/or raise taxes to make more "investments". Look where that has gotten Ontario.
Zeppelin54 over 1 year ago