Translator: Canada Vancouver Sailing Farm – Lulu

Editor: Canada Vancouver Sailing Farm – Gerald Garwood and Lily

According to a report by True North on April 7, the Trudeau government will continue to expand the scale of spending, with an additional $56 billion in the federal budget in 2022. Liberal Deputy Prime Minister and Treasurer Freeland presented the budget document to the House of Commons on the same day.

The new spending includes $8 billion in defense spending, a $10 billion affordable housing program and further taxes on financial institutions. The additional defense spending will be used to upgrade Canada’s aerospace defense systems and purchase more weapons and equipment to support Ukraine. At the same time, the Liberal government also raised the surtax by 1.5 per cent to 16.5 per cent on revenues over $1 billion.

Despite Trudeau’s claim to more than halve debt next year, the federal deficit is expected to hit $113.8 billion in 2021-22. At present, Canada’s debt has exceeded 1.11 trillion Canadian dollars, and the above new budget will mean more taxes for all Canadians.

News link:https://tnc.news/2022/04/07/freeland-announces-56-billion-in-new-spending-in-2022-budget/

Authors: Canada Vancouver Sailing Farm – Wenlai and Chenxi

Posted by:Canada Vancouver Sailing Farm – Wenming(添草灭共)