So everyone's been awaiting to see what they had planned and here are the highlights:
[img]http://thecanadianpress-a.akamaihd.net/graphics/2016/static/cp-fedbgt-2016-breakdown.png[/img]
[quote]Canada Child Benefit: New monthly tax-free payments starts July 1 to replace UCCB and other tax measures: up to $6,400 a year per child under 6, and $5,400 those aged 6 to 18. But this amount begins to claw back for households with an income over $30,000 and is eliminated entirely for incomes over $190,000.
Tax credits: Children's arts and fitness tax credits phased out by end of 2017. But teachers get a $150 credit for teaching materials.
EI: Changes make it easier to qualify for benefits, and extends benefits for workers in 12 hard-hit regions. Plus: a bigger-than-expected cut in EI premiums next January.
Infrastructure: $120 billion over 10 years, focusing first on public transit, water, waste management and housing infrastructure.
Indigenous Peoples: $8.4 billion over five years, with $2.6 of that to improve primary and secondary education on reserves. Other funding for drinking water and housing, as well as family and child services.
Student grants: Increased 50%, to $3,000 for low-income and $1,200 for middle-income students.
Arts: $1.9 billion over five years for arts and culture organizations, including the Canada Council, Telefilm Canada and the National Arts Centre. $675 million to "modernize and revitalize CBC/Radio-Canada in the digital era."
Seniors: Guaranteed Income Supplement increased by up to $947 annually.
Veterans: Reopens nine service offices, increases amounts payable to injured veterans and indexes some benefits to inflation.[/quote]
[url=http://www.cbc.ca/news/politics/federal-budget-2016-highlights-1.3501803]**SOURCE**[/url]
[quote]A good chunk of that deficit spending is targeted at infrastructure projects — things like highways, bridges and airports — that help make it easier for the economy to thrive, and make government tax revenues increase by enough to offset the cost of dipping into the kitty up front.
There's a surge of almost $12 billion in the next five years for so-called "shovel ready" projects such as the Lions Gate Wastewater treatment plant in Vancouver and the Outlet Channels Project that will help flood protection near Lake Manitoba and Lake St. Martin.
There's money to spend on projects like those and countless others, and it breaks down as follows:
$3.4 billion for public transit.
$1.4 billion for affordable housing.
$2.2 billion for water and waste management systems in First Nations communities.
$400 million for early learning and child care.
$518 million for climate change mitigation technologies.
Almost $4 billion in other miscellaneous spending under the grab bag of "infrastructure."
There's even more after that — "more than $120 billion in the next decade" according to a government press release — but the 269-page budget itself was bereft of details on that spending.
The idea is that projects like bridges and airport improvements pay off for governments down the line by making it easier for companies to grow, which boosts Ottawa's bottom line by increasing the tax base.[/quote]
[quote]For planning purposes, Ottawa consults with a collective of more than a dozen private sector economists to see how they expect the economy will perform. Those economists expect Canada's GDP to grow by a relatively solid 2.4 per cent in nominal terms this year.
But the government's own assumptions are far less rosy. Ottawa is projecting the economy will grow by $40 billion a year less than its own advisers are saying in each of the next five years.
That level of economic growth would mean about $6 billion less revenue every year for Ottawa, a major factor in the deficit.
[/quote]
[quote]And there was a tiny amount — $500,000 — earmarked for Statistics Canada, to give the data agency more tools to be able to track the amount of foreign buying happening in Canada's housing market.[/quote]
[url=http://www.cbc.ca/news/business/budget-deficit-infrastructure-1.3502940]**SOURCE**[/url]
For me locally it means two legions are reopening, plus the Kits Coast Guard station is also going to reopen. For the CBC this year they will receive a funding increase of $75 million and after that they will have their funding restored with $150 million in the following years (though it's too late for RCI). There is also about $40 million that will go into the Highway of Tears investigation.
It's a pretty big push into the red but given how badly the conservatives fucked EVERYTHING up there was no way in any hell we would be able to unfuck it otherwise without spending a pretty big chunk.
That being said, the Conservatives and NDP are losing their shit over this. Too bad neither of them got elected a majority. ;^)
Also, no students who make less than 25000$ a year will be forced to reimburse their student debt, which is great news.
Though I wonder how Quebec will be benefiting from this since they have their own student financial aid system...
Our previous PM [I]who-shalt-not-be-named[/I] would never have had the balls to do any of this.
most of the things they're heavily investing in will show profits later on won't they?
If Turdeau didn't think we need to help every refugee in the world there wouldn't be as big of a deficit.
According to Huff, around 1 billion is the estimate cost for the refugee program.
[URL="http://www.huffingtonpost.ca/2016/03/22/syrian-refugees-federal-budget-2016_n_9525346.html"]http://www.huffingtonpost.ca/2016/03/22/syrian-refugees-federal-budget-2016_n_9525346.html[/URL]
[QUOTE=Taepodong-2;49988279]If Turdeau didn't think we need to help every refugee in the world there wouldn't be as big of a deficit.[/QUOTE]
You do realize that immigrants are good for the economy right?
[QUOTE=Taepodong-2;49988279]If Turdeau didn't think we need to help every refugee in the world there wouldn't be as big of a deficit.[/QUOTE]
Pretty sure trudeau hasnt created 30 billion dollars of deficit in less than a year.
It doesn't help that Canada's economy is basically stagnant. It's had an average GPD growth under 1% for over 10 years. That's under the rate of population growth, meaning that the nation has actually gotten poorer.
[QUOTE=Taepodong-2;49988279]If Turdeau didn't think we need to help every refugee in the world there wouldn't be as big of a deficit.[/QUOTE]
Yeah, this can't have anything to do with 11 years of His Royal Kittensweaterness King Stevie, it's all because Trudeau's bringing in refugees.
I can see where this is coming from though; as Canada reeling from the so called "mild" recession it had last year, Trudeau outlined in his political agenda during the election that he would have to run a deficit to fund infrastructure & other projects, thus spurring growth through the private sector. I wouldn't be surprised if Canada had reelected [I]who-shall-not-be-named[/I], they'd probably be in a worse off position and economic conditions would have worsened as well.
To boot, this is tiny compared to some nations. Downunder, our government still owes $405 billion. Then there's the US which owes trillions.
And the Conservative is blaming the Trudeau government for not mentioning job creation in his budget. Somehow they are expecting Trudeau to create jobs with a magic wand or something rather than investing, say, in our collapsing infrastructure like in Montreal for example which has been a shithole.
Good. We've got shit to pay for. Say what you want about Trudeau, he was the only one with the balls to say he'd run a deficit.
[QUOTE=fruxodaily;49988221]most of the things they're heavily investing in will show profits later on won't they?[/QUOTE]
Looks like it, lots spent on infrastructure, education and welfare for the poorest and in disadvantaged regions.
[QUOTE=Chaitin;49988574]And the Conservative is blaming the Trudeau government for not mentioning job creation in his budget. Somehow they are expecting Trudeau to create jobs with a magic wand or something rather than investing, say, in our collapsing infrastructure like in Montreal for example which has been a shithole.[/QUOTE]
You think Montreal is a shithole, come see Winnipeg.
The streets are awful, the bridges are awful, and the construction is awful.
A tiny ass bridge that sinks down towards a creak that has been shit for at least 2 decades is finally being rebuilt, and is going to take nearly 2 years to replace.
If our city were American, it would be done in a fraction of the time.
Our roads don't get rebuilt, they just pave it over with a loose brittle coating of tar that comes off in the winter (and takes the entire summer to lay down)
Our garbage and recycling collection has been outsourced to an unreliable company that misses homes or outright misses days of work. They won't even pick up a bin if the lid is open and instead will take the time to write a notice and stick it on the bins instead.
Our taxes go towards projects that only a minority of citizens may somewhat kinda maybe want
[QUOTE=billibobc;49988323]You do realize that immigrants are good for the economy right?[/QUOTE]
Immigrants are. Refugees aren't. Why have people forgotten that they're going back as soon as any trouble has ended?
All that Alberta oil didn't pan out, now the promises of massive surplus cannot be met, at least the new government is trying to unfuck stuff
[QUOTE=sgman91;49988405]It doesn't help that Canada's economy is basically stagnant. It's had an average GPD growth under 1% for over 10 years. That's under the rate of population growth, meaning that the nation has actually gotten poorer.[/QUOTE]
But its stable as hell, we kind of rode though the previous recessions saying "This isn't so bad, what are you complaining about"
Lmfao our political situation is laughable. I can't believe that after ten years of governance by a party that did so much to weaken the Canadian economy people are shitting on the next government that puts the money forward to fund infrastructure and get us back on track. I don't agree with some of the spending on the middle east though but overall it's not that bad.
That's not really a big deficit, all things considered.
[QUOTE=Karmah;49991152]You think Montreal is a shithole, come see Winnipeg.
The streets are awful, the bridges are awful, and the construction is awful.
A tiny ass bridge that sinks down towards a creak that has been shit for at least 2 decades is finally being rebuilt, and is going to take nearly 2 years to replace.
If our city were American, it would be done in a fraction of the time.
Our roads don't get rebuilt, they just pave it over with a loose brittle coating of tar that comes off in the winter (and takes the entire summer to lay down)
Our garbage and recycling collection has been outsourced to an unreliable company that misses homes or outright misses days of work. They won't even pick up a bin if the lid is open and instead will take the time to write a notice and stick it on the bins instead.
Our taxes go towards projects that only a minority of citizens may somewhat kinda maybe want[/QUOTE]
Not to mention the whole city in general looks depressing as fuck because of all the abandoned buildings that never get torn down and old buildings that never get renovated.
He isn't joking when he says the streets are terrible. Most curbs have just been turned to dust because they are never maintained. They have pot holes so bad that if you hit them they'll destroy your car. It's very common to see people swerve into other lanes just to avoid them. God help you if it has rained because all the pot holes are filled with water so you can't tell how deep they are. It's not uncommon to be on a road in Winnipeg that has NEVER been repaved or had pot hols filled since it was built 10, 20, or 30 years ago.
I like to joke that Winnipeg is the only city in Canada that has gravel roads within the city limits.
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