News

Published April 16, 2024

Budget 2024: Key numbers from the Liberals' latest spending plan

By Justin Tang
Prime Minister Justin Trudeau, Deputy Prime Minister, Minister of Finance Chrystia Freeland and cabinet ministers pose for a photo before the tabling of the federal budget on Parliament Hill in Ottawa, on Tuesday, April 16, 2024. THE CANADIAN PRESS/Justin Tang
Prime Minister Justin Trudeau, Deputy Prime Minister, Minister of Finance Chrystia Freeland and cabinet ministers pose for a photo before the tabling of the federal budget on Parliament Hill in Ottawa, on Tuesday, April 16, 2024. THE CANADIAN PRESS/Justin Tang

Here are some key numbers from the Liberal government's federal budget:

$535 billion: Total government spending for the 2024-25 financial year.

$39.8 billion: The total deficit, just shy of the $40-billion projection in the fall economic statement.

$11.5 billion: The amount of new spending this year.

$8.5 billion: What's being spent to spur new housing.

$3.87 million: The number of new homes the government says its housing plan will get built by 2031.

$2.6 billion: What the Liberals say will go towards "generational fairness" to ease education costs and create new job opportunities for younger Canadians.

$19.4 billion: The amount of revenue Ottawa expects to get from five years of targeted changes to capital gains taxes.

$1.5 billion: The five-year cost of universal coverage of contraceptives and diabetes medicine and supplies over the next five years.

$1.7 billion: What Ottawa thinks it will get in five years from an increase to the excise tax rates for tobacco products.

$8.1 billion: The boost to Canada's defence budget over the next five years.

1.76: The percentage of GDP that defence spending will account for by 2030, still shy of the two per cent NATO target.

50: The number of times the word "fairness" appears in the budget document.

This report by The Canadian Press was first published April 16, 2024.

Banner image: Prime Minister Justin Trudeau, Deputy Prime Minister, Minister of Finance Chrystia Freeland and cabinet ministers pose for a photo before the tabling of the federal budget on Parliament Hill in Ottawa, on Tuesday, April 16, 2024. THE CANADIAN PRESS/Justin Tang

What do you think of this article?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
Advertisement
Advertisement
Advertisement

Have a breaking story?

Share it with us!
Share Your Story

What Barrie's talking about!

From breaking news to the best slice of pizza in town! Get everything Barrie’s talking about delivered right to your inbox every day. Don’t worry, we won’t spam you. We promise :)
Subscription Form
Consent Info

By submitting this form, you are consenting to receive marketing emails from: Central Ontario Broadcasting, 431 Huronia Rd, Barrie, Ontario, CA, https://www.cobroadcasting.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Related Stories

Advertisement
Advertisement