The Liberal government is doubling down on debt and spending
Finance Minister Chrystia Freeland’s first crack at a federal budget is also widely viewed as a pre-election platform with more than $100 million in new spending over the next three years targeting a wide variety of voters, from seniors and their caregivers, to parents and business owners.
Here are the highlights from the plan, by the numbers.
$1.4 trillion: Expected federal debt in 2025/26. Almost double the $721B debt in 2019/20.
$10: The Liberal aim is to have $10 be the average cost of child care per day across Canada within five years.
$30 billion: The extra spending on child care in next five years.
$604 million: Revenue generated in five years by a luxury tax on cars and personal aircraft worth more than $100,000 and boats worth more than $250,000.
$15: Introduction of a minimum wage of $15 per hour.
$700 million: Expected revenue over four years by imposing a one per cent tax on the value of non-resident, non-Canadian owned residential real estate that is considered to be vacant or underused.