Canada’s Minister of Finance Chrystia Freeland has tabled federal Budget 2024 to Parliament.
Canada releases a budget annually that sets the tone for spending in the upcoming fiscal year. It plays a major role in how life will be managed for all people in Canada, including newcomers.
For example, the Budget outlines the national plan for spending on all federal services and provides a glimpse of what can be expected for Canada’s economy in the coming fiscal year.
Understanding how the government plans to spend money is a key factor in making sense of Canada’s immigration policies moving forward.
This year’s Budget featured $53 billion new spending and has a heavy focus on improving housing affordability in Canada as well as defence spending and improving productivity in Canada’s labour force to support the economy.
