Finance Minister Chrystia Freeland released a budget update that showed the Canadian government plans C$20.8 billion ($15.2 billion) in net new costs over six years focused on priorities including affordable housing and the clean energy transition. However, it will stretch that spending out over time to avoid growing this year’s C$40 billion deficit. There is no plan to return to a balanced budget, with the deficit projected to fall to C$18.4 billion in 2028-2029.

Up Next

Here Are the Key Takeaways From Canada’s Budget Update