Finance Minister Chrystia Freeland says $53-billion in new spending would be focused on what she calls economic justice for younger generations.

 

 

From the get-go, the Liberals made it clear this budget would focus on helping Millennials and Gen Z — the demographic groups hit hardest by the affordability crisis.

As for some of the highlights, there’s the government’s previously announced promise to build nearly 4-million homes by 2031 .. $1.5-billion over five-years to launch the national universal pharmacare plan .. $6.1-billion over six-years for the long promised Canada Disability Benefit and $1.4-billion ongoing with first payments coming in July 2025.

There’s also $2-billion for the national school food program to fee 400,000 more children and $1-billion in low cost loans to build more child care spaces.

To pay for all this, there’s an increase in capital gains taxes on the wealthiest people,corporations and trusts, that’s projected to bring in over $19-billion the next five-years.

The increase on the inclusion rate from 50% to 66% on capital gains above a quarter-million for individuals; which Freeland says will only affect 0.1% of Canadians, and on all capital gains for corporations and trusts.

The federal government is also going after car thieves in its latest budget with new Criminal Code offences.

The Liberals propose new charges for the use of violence while stealing a vehicle, and for links to organized crime.

They’re also proposing changes to make it illegal to own or sell the electronic and digital devices police say are being used to steal cars.

And if thieves involve a youth in their operation, that will be considered an aggravating factor in sentencing.

This comes as Toronto police make 3 arrests, lay over 50 charges in connection with the carjacking of a BMW SUV and Lamborghini earlier this month, while York Regional police arrest 3 teens after an attempting carjacking in Markham again just days ago.