Finance Minister Chrystia Freeland is scheduled to submit the budget to the House of Commons this afternoon.
The economy has fared better than expected in recent months, which along with higher oil prices are expected to offset government profits and help offset any new spending that will be announced.
Outstanding promises from the Liberals’ campaign platform amount to about $ 48.5 billion in net new spending, taking into account new revenue from things like expected tax on excess bank profits.
The promises include measures aimed at addressing concerns about the affordability of housing, which are rising alongside prices and rents since the September elections.
But billions more could be piled up in federal books to pay for pharmaceutical and dental care as part of a deal the New Democrats backed the minority government and more for the military as part of a deal with NATO allies to speed up .
Speaking Wednesday, Prime Minister Justin Trindade said the budget would show the country’s debt remained affordable, with debt falling as a percentage of the national economy in the coming years.
This Canadian Press report was first published on April 7, 2022.
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