Finance Minister Chrystia Freeland has tabled the 2022 federal budget. Here are some of the highlights.
- $452.3 billion in new spending on projected revenue of $408.4 billion for a deficit of $52.8 billion. The debt to GDP ratio is pegged at 45.1 per cent.
- The defence budget got new money with more than $8 billion pledged over five years to better equip the Canadian Armed Forces, reinforce cybersecurity and support a culture of change. The budget contained no road map on whether this would be enough to boost Canada's defence spending to the NATO target of two per cent of GDP, as the alliance works to bolster Europe following the Russian invasion of Ukraine.
- $1.7 billion over five years starting in 2022-23 to help make zero-emission vehicles more affordable for people. The Canadian Infrastructure Bank will spend $500 million over five years to build infrastructure to support the 1,500 charging stations that the government has promised to build throughout Canada.
- $593.3 million over five years, starting in 2022-23, to help provinces and territories support projects to prevent gender-based violence and help survivors. - $183.1 million over five years, starting in 2022-23, to reduce plastic waste, building on a 2018 G7 commitment. - $100 million over three years, starting in 2022-23, to help Health Canada deal with the opioid addiction crisis.
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