October 25, 2017
Good News, Canada: Apparently Ottawa’s Rollin’ in Dough
The Liberal government released their fall economic statement yesterday, and things are looking pretty damn good. Thanks to our “surprisingly strong economy,” Ottawa announced another $14.9 billion in spending over the next five years (which is in addition to what they had originally promised to spend in their March budget). The plan is to put a good chunk of the money towards investments, tax relief and new spending on social programs to support children and the working poor. Global News
What Else You Need to Know
The $14.9 billion is really just a drop in the bucket, since the government’s also predicting an additional $46.6 billion in income over the same time period. The money that’s not being spent on investments, taxes and Canadian families, will be put towards reducing our annual deficits.
The extra funds will also allow the Liberals to implement a promised program enhancement earlier than they had expected: they’re upping the child benefit payments. They also plan to boost the working tax income benefit.