How The New Canadian Budget Will Affect You : vimarsana.com

How The New Canadian Budget Will Affect You


After skipping last year without tabling a formal budget, the Canadian government has finally delivered its much-anticipated budget for the coming year with the weight of both a pandemic year behind and a year ahead that still remain very unclear. Similar to the Democrats in the United States, the Liberals are promising massive spending to boost the economy, and will expand or introduce a wide array of progressive social programs. This huge spend will be financed by unprecedented levels of government debt in the coming years, and increased efforts to tax luxury items and increase many so-called “sin” taxes.
The government is going to increase program spending by $101.4 billion as they hope to see the country, and particularly certain demographic groups through the increasingly stubborn pandemic.

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