The Liberals expect a new bid to curb smoking rates in the federal budget will generate $1.7 billion in new revenue for the government.
Deputy Prime Minister and Minister of Finance Chrystia Freeland holds a press conference in the media-lockup prior to tabling the Federal Budget in Ottawa on Tuesday, April 16, 2024. THE CANADIAN PRESS/Sean KilpatrickOTTAWA -
Health Minister Mark Holland announced the launch of a new pharmacare program in February, following fraught negotiations with the New Democrats. As it stands, the government plans to spend $59 million over the next year, and increase annual spending to $477 million by 2027. The tax on vaping products will increase by 12 per cent in July, and bring in $310 million over five years.
The goal of Canada's tobacco strategy is to lower the smoking rate to less than five per cent by 2035. All were conditions of the supply-and-confidence agreement with the NDP, which sees the New Democrats supporting the minority Liberals on key parliamentary votes, including the budget.
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