The federal Liberals are set to unveil a budget on Tuesday while supporting Canadians who are struggling with affordability.
Posted: Mar. 26, 2023 8:53AMThe Peace Tower is pictured on Parliament Hill in Ottawa on Tuesday, Jan. 31, 2023. The federal government is set to unveil its budget Tuesday, showcasing how it plans to keep Canada competitive amid the clean energy transition and support Canadians struggling with affordability.
“It’s going to be very tricky for the federal government,” said Randall Bartlett, a senior director of Canadian economics at Desjardins. And with the cost of living still a top economic issue for many Canadians, the Liberals have signalled the budget will include new affordability measures. As global price pressures ease and interest rates dampen spending in the economy, inflation has been slowing. Canada’s annual inflation rate has tumbled from 8.1 per cent in the summer to 5.2 per cent in February.
The federal government also runs the risk of fuelling inflation with excessive spending, making the Bank of Canada’s job of cooling inflation more challenging. Freeland has repeatedly said she doesn’t plan on doing that, noting the federal government can’t compensate all Canadians for the rise in prices.
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