Mar 10, 2023
By Christine Ross
Finance Minister Chrystia Freeland will deliver the federal budget on March 28th and is stressing the government is focused on fiscal restraint.
She says the Liberal spending plans will focus on clean energy, job growth and making life more affordable.
With the looming fear that Canada could enter recession in the coming months, the Liberals are likely to show fiscal restraint as the Bank of Canada tries to get inflation under control.
“One of my principal responsibilities is not to pour fuel on the flames of inflation,” said Freeland.
The central bank has raised interest rates aggressively over the last year, bringing its key interest rate to 4.5 per cent, the highest it’s been since 2007.
Health-care spending is likely to be another key element in the budget, as the federal government signed a $196 billion dollar deal with the provinces.
As soon as the budget date was announced, Conservative Leader Pierre Poilievre called on Freeland to cap spending, cut taxes, and reverse the federal government’s inflationary deficits.
NDP Leader Jagmeet Singh said he’s holding economic roundtables ahead of the spring budget.