Ottawa (with files from Huffington Post) – In the final budget for this particular mandate from Prime Minister Justin Trudeau, Finance Minister Bill Morneau’s budget resembled Liberal economic plans that preceded it: the government will exhaust a big windfall, run near-term deficits of about $20 billion and offer no timeline to return to balance.
In a nut shell:
— $4.6 billion over five years to help more Canadians afford and access skills training to keep up with the rapidly evolving workforce
— $4.5 billion over five years to improve living conditions for Indigenous Peoples
— $1.8 billion over four years to enhance the guaranteed income supplement for low-income seniors
— $885 million over five years to make homes more affordable for first-time buyers
— $500 million per year, starting in 2022-23, to help cover the cost of drugs for rare diseases.
The government will make several large, one-time investments for 2018-19, including $2.2 billion worth of new infrastructure funding and $1 billion towards improving energy efficiency.