Budget 2023: Key highlights from the federal Liberals' spending plan cdnpoli
— $2.5 billion: The cost of another one-time doubling of GST rebates this financial year to help low-income Canadians who are struggling with high prices and inflation. The government has dubbed this measure a “grocery rebate,” a nod to high food prices.
— An unknown amount: Finance officials would not specify how much Ottawa spent in an agreement with Volkswagen that will see the company build a battery manufacturing plant, called a “gigafactory,” in St. Thomas, Ont. They said more details will be revealed in the weeks to come. The budget document stipulates that the expected costs are accounted for in this year’s spending tables.
— $14 per $100: What the federal government says will be the new maximum amount that payday lenders can charge people for the amount they borrow. The budget says a Criminal Code amendment will be made to that effect, while the government also intends to lower the maximum interest rates payday lenders can charge to an annual percentage rate of 35 per cent.
— $56 million: Spending allocated for “protecting diaspora communities and all Canadians from foreign interference, threats and covert activities.” The budget announces funding for the RCMP to investigate foreign interference allegations, and says Public Safety Canada will stand up a new National Counter-Foreign Interference Office to respond to any attempted meddling by Russia, China and Iran.
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