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Budget 2022: Trudeau government earmarks $31B in new spending on growth, housing, and defence | FULL

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The Trudeau Liberals unveiled their latest budget on Thursday that aims to balance promises made in the 2021 election campaign, the pact with the NDP, and Canada's commitment to global defence allies.

Finance Minister Chrystia Freeland tabled the budget in the House of Commons Thursday afternoon.

The 2022 budget includes more than $31 billion in new spending over the next five years.

It’s targeted at speeding the flow of goods through the country’s supply chains, boosting housing supply and jolting businesses out of an anemic period of investment.

The COVID-19 pandemic and resulting societal lockdowns have roiled global supply chains over the past two years. That’s fueled shortages of everything from homebuilding materials to toilet paper and flour, to semiconductors as consumer behaviour shifts.

Those struggles are coupled with the economic spillover of rampant inflation, now at multi-decade highs across much of the world, including Canada, as well as Russia’s invasion of Ukraine.

For more info, please go to https://globalnews.ca/news/8742169/liberals-2022-federal-budget-billions-new-spending/

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Category
U.S. & Canada
Tags
global news, Canada, Canadian Federal Budget
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