Finance Minister has offered early hints
With the upcoming release of the 2023 federal budget, Finance Minister Chrystia Freeland emphasized that the government will continue to invest in housing, health care, child care, and the clean economy.
Such investments on both the economic and social aspects will be necessary as these will help secure Canada’s long-term prospects, Freeland said in a recent speech in Oshawa.
“Investments in our economic capacity are fiscally responsible, and failure to make the necessary investments in our economic capacity and in our economic future – that is irresponsible,” Freeland said. “That is reckless.''
At the same time, Freeland assured the federal government will continue to provide “targeted relief” for the segments of the population that are most affected by price growth – while taking care not to worsen headline inflation.
The budget, which is slated for release on March 28, will be framed around the main themes of affordability, health care, economic “competitiveness,” and “fiscal strength,” government sources told the Toronto Star.
The sources reported that the budget will not allocate spending that might interfere with the Bank of Canada’s expressed strategy to bring down inflation levels through a high-interest rate environment.
With the inflation fight likely to remain in the spotlight for the foreseeable future, the budget is not expected to be a “a giveaway budget” that will have something for everyone, the Star’s sources added.