BREAKING: $491B federal budget invests in clean electricity, health care
“Together these two great shifts represent the most significant opportunity for Canadian workers in the lifetime of anyone here today,” Freeland said Tuesday in the House of Commons, according to her prepared remarks.
Dental care is expected to cost more than $13 billion over the next five years, about a $7-billion increase from what the government said it would cost when it was introduced in last year's budget. Over the next 12 years, the government expects to spend more than $80 billion on investment tax credits for clean technology and renewable energy, hoping to draw in much more than that from the private sector.Almost one-third of the investment tax credits will be for clean power, including finally aiming to connect Canada from coast to coast with power lines.
The increase in grocery prices is proving especially tough to slow, hitting close to 11 per cent in February compared to a year earlier. All the new spending, and a $17-billion increase in the cost of interest on government debt over five years, has eliminated Freeland's hope for a balanced budget on the horizon.
Freeland uses positive language to describe Canada's current economic situation, but the budget makes clear the upheaval created by the pandemic means the country is still at risk of seeing its finances take a turn for the worse by the end of this year.
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