With polling numbers indicating a day of reckoning could be on the horizon for the Trudeau Liberals, the Fall Economic Statement from Deputy Prime Minister/Finance Minister Chrystia Freeland very clearly was designed to catch the eye of the middle class.
Delivered Tuesday in the House of Commons the bridging blue print to the next Federal Budget of the Spring was heavy on housing themes making use of the 4 billion Housing Accelerator Fund to develop homes across the nation faster.
The statement also noted of repurposing Federal land for Housing, unlocking 20 billion in low cost financing towards more rental housing, creating more housing for the most vulnerable Canadians as well as to crack down on short term rentals, the Feds following the lead of the BC Government in this province to that theme.
For those set to renew a mortgage the feds are looking to offer mortgage relief towards helping Canadians stay in their homes.
A review of many of those themes is available here.
Towards assistance for the Middle Class, the Statement form Tuesday highlighted areas of strengthening competition to stabilize prices, make groceries more affordable, cracking down on junk fees, removing taxes from psychotherapy and counselling, as well as to continue to work towards Dental Care for all Canadians.
Some of the focus for those elements can be reviewed here.
Economic themes remain focused on Investing in Clean Economy elements, Carbon Capture proposals and other Clean Technology initiatives. As well there was an introduction towards Legislation related to Clean Hydrogen in among the areas of note.
Of the Financial Takeaways from the document, it was noted that Federal deficit projections would be higher over the next five years.
The Debt costs for that deficit will increase to 60 billion dollars by 2028-29
The Unemployment rate across Canada in 2024 is forecast to be at 6.4%
No doubt watching the Financial Forecast from the Finance Minister were many Municipal officials across the country (Including Prince Rupert) and for them the themes on Housing likely will be welcomed, particularly the continued push for Affordable housing.
However, there did not appear to be much to be found on additional infrastructure funding from the statement, a key area for towns and cities across Canada.
Funding is an area where calls for more assistance from the federal government have grown in frequency as communities struggle to replace their aging infrastructure.
The Full Statement to the House of Commons can be reviewed below:
The Opposition Conservatives indicated that they had little faith in the Economic Statement and with leader Pierre Poilievre planning to make the vote on it a vote of non confidence in the Government.
That however, likely won't be sending Canadians off to the polls any time soon.
While indicating that they weren't happy with the pace of help for Canadians from the Liberals Economic Statement, NDP leader Jagmeet Singh did not suggest that he had any plans to support the Conservative non confidence plans.
More from the House of Commons can be reviewed through our archive page.
Cross posted from the North Coast Review.
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