Liberal Budget Passes After NDP Votes in Favour

The Liberal government’s budget passed on May 1, after the NDP leader committed to support the vote hours before it took place. The Liberals and New Democrats voted in favour of the Ways and Means motion, while the Conservatives, Bloc Québécois, and Green Party voted against it. The 2024 budget, tabled by Deputy Prime Minister and Minister of Finance Chrystia Freeland on April 16, involves $53 billion in new spending over the next five years and includes $8.5 billion in new spending on housing. The budget projects the government will post a $40 billion deficit this fiscal year. A controversial proposal to raise the capital gains tax from 50 percent to 67 percent was absent from the budget, indicating that cabinet plans to table it separately at a later date. While Ms. Freeland has said that change would impact only the wealthiest 0.1 percent of Canadians, business leaders have condemned it and claimed the change could hurt the country’s productivity....