FinMin Morneau delivers first Liberal Budget
Canada’s new Finance Minister Bill Morneau has delivered his first budget to parliament. The speech was probably most notable because the new Liberal government failed to meet its promise to balance the books and instead plans to spend billions on infrastructure and tax benefits for the middle class.
The budget projects a deficit of around C$29.4 billion this year and C$29 billion in 2017-18. The budget also projects to spend C$11.9 billion over five years on infrastructure and will abandon plans to purchase C$3.7 billion worth of ships, planes and vehicles for National Defence.
You can find a ‘Budget in Brief’ as published on the Finance Ministry website here.
You can find the full text of the Budget 2016 speech here.
There is a lot more data to be found here.