Politics · Canada · 5 hrs ago

Carney's second budget bets on investment as affordability remains a concern

Carney's second budget bets on investment as affordability remains a concern

Canada's Liberal government tabled its second budget under Prime Minister Mark Carney on Thursday.

The budget aims to change the country's growth model by encouraging businesses to invest and building major projects.

Its largest new measure is a tax deduction for business investment, expected to cost about $36 billion over five years.

The government hopes the measure, alongside a tax break for entrepreneurs, will help trigger an investment boom.

The budget also sets aside money for clean electricity, forestry, critical minerals and other infrastructure projects.

These plans may take time to affect the economy, while affordability concerns need attention now.

The budget signals a shift toward investment and construction, but the available details do not say what specific affordability steps will follow.

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What people are saying

François-Philippe ChampagneFinance minister
With solid revenue growth, and (a) shift towards capital investment and clear strategies, we are in a position to transform our economy towards stronger growth and productivity
via Global News
The moment demands an ambitious plan to be masters of our destiny; to be maîtres chez nous.
via CBC
Jimmy JeanChief economist, Desjardins Group
Really they’re going all in on this. So very ambitious,
via Global News