April 16, 2024
Ottawa will spend $52.9 billion more than planned over the next five years and will post a $40-billion deficit this fiscal year. To offset some of that spending, the government will generate roughly $21.9 billion in new revenue coming in part from higher capital gains taxes and a hike to excise taxes on cigarettes and vaping products. The budget includes a $500-million fund for youth mental health. The CMA says it’s pleased to see investments into the healthcare workforce, healthy Indigenous communities and the SDOH in the 2024 federal budget. Meanwhile, the Heart and Stroke Foundation applauds funding for a Canada-wide school nutrition program.