Federal Budget puts focus on Housing, Defence, Indigenous and Reconciliation themes

Finance Minister and Deputy Prime Minister Chrystia Freeland delivered
her second Federal Budet today in the House of Commons

The Federal Government outlined a plan this afternoon that will see over 31 billion dollars in spending towards a number of key areas with some assistance towards adding to the housing stock across the nation making for significant focus, as was some additional funding to go towards Defence spending and items of note for Indigenous communities and goals of Reconciliation. 

Finance Minister Chrystia Freeland delivered her second financial review and budget in the House of Commons today with a document that stayed true to much of the recent Liberal party campaign platform from the last election.

Opening with notes on the work of the last two years on COVID support spending and how that is now over,  as well as a commitment towards reducing the pandemic debt incurred from that spending which must now be paid down. 

And with that a shift from our most dominating issues of the the last two years, the Liberals then pivoted forward to the future and a range of themes that will be familiar in many instances.

“Budget 2022 is about growing our economy, creating good jobs, and building a Canada where nobody gets left behind. Our plan is responsible and considered, and it is going to mean more homes and good-paying jobs for Canadians; cleaner air and cleaner water for our children; and a stronger and more resilient economy for years to come.”  -- Chrystia Freeland, Deputy Prime Minister and Minister of Finance

Towards the elements of the budget among the key areas of note:

For Housing the Federal government will be putting forward a new initiative of a housing accelerator fund with 4 billions over five years dedicated to assisting municipalities in developing much needed housing stock. The goal of the plan is one that could see 100,000 new housing units created through the Fund over the next five years.

Also part of the plan is a Savings program, similar to current tax savings instruments to help first time buyers finance their home purchases.

The full overview on Housing can be explored here.

With the Russian invasion of Ukraine serving as the backdrop for this Budget, the spending for the nation's National Defence has been bumped up with a commitment of 8 billion dollars over five years, which will bring Canada closer to the NATO goal of two percent of GDP, but see  the country still coming up short of that goal at 1.5 percent.

Of the spending  some of it will go towards improving our defences in Northern Canada through NORAD.

Canada will also be providing more military aid to Ukraine as they continue to try to push the Russians off of their homeland, with another 500 million dollars to be provided in their efforts.

The Notes on Defence can be reviewed here.

Indigenous themes were significant in the funding roll out as well today, with 11 billion dollars over six years to be put towards support of Indigenous children, families and communities, with housing, access to health and educational programs also part of the spending plan.

Infrastructure on reserves will also see additional funding of 400 million dollars, of which 247 million has been directed towards water and wastewater infrastructure projects.

How the plan to move forward towards those themes and other elements of Reconciliation can be examined here.

The Liberals haven't ignored Climate issues, with spending to be put towards building a national network of EV Charging stations, helping business switch to Zero Emission vehicles, innovative ideas for Sustainable Agriculture to Fight Climate Change, as well as further support towards investment s in Air Sourced Heat Pumps.

The overview of their Climate spending plans can be found here. 

Health Care as well is a significant element of the 2022 Budget, with Ms. Freeland's budget including areas of interest towards strengthening the National Health Care program coming out of COVID, while adding Pharmacare planning to the work ahead.

A little closer to the horizon is the plans for Dental Care, that a proposed health care option that came out of the recent agreement of support from the NDP, with the first parts of the program to be funded by 5.3 billion dollars over five years starting this year.

Attracting medical professionals in Rural and Remote communities will also get a boost with additional funding for a project to provide student loan forgiveness to those who choose to work in underserved rural and remote locations across the country.

The overview of the Financial spending can be examined here.

Reducing the Deficit and Financing the Government's spending plans was also reviewed and those twin goals will be addressed through taxation increases in a number of areas, from Personal and corporate income tax, as well as Goods and Services taxation.

How they propose to tackle the twin themes can be reviewed here.

All three of the other Opposition Parties found much to dislike about the financial blue print, with the current arrangement between the Liberals and the NDP and the confidence of supply for the governing party one which was painted as having delivered Canada's First NDP Budget.

For its part the NDP while happy with many of the financial document moves, also expressed some concerns, particularly towards the Climate themes that they noted did not go as far as they would like to see.

The Video Presentation of Budget 2022 from CPAC can be reviewed below:

All Nine Chapters to the Finance Minister's Budget making can be reviewed here.

More items of note from the Federal Government on the elements of the budget can be examined here.

Items of interest from the Federal scene can be explored further through our House of Commons archive page, as well as from our political blog D'Arcy McGee.

Cross posted from the North Coast Review.