More Spending and Higher Taxes on the Wealthy in Budget 2024

Published on April 16, 2024

The Liberal government is raising taxes on the rich to finance spending, according to the annual budget presented on April 16. “We are driving the kind of economic growth that will ensure every generation of Canadians can reach their full potential,” Deputy Prime Minister and Minister of Finance Chrystia Freeland told the House of Commons in Ottawa in outlining the proposed budget. “And we are making Canada’s tax system more fair—by ensuring that the very wealthiest pay their fair share.” The budget is allocating $39.2 billion in spending over six years, with expenditures planned for housing and other social supports. The budget will be voted on by the House of Commons before it’s adoption....

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