The federal government has brought down its third budget, and it calls for lots of new spending and continued deficits. More money will be spent on Indigenous reconciliation and measures focused on women.
Finance Minister Morneau’s budget includes a $18.1-billion deficit for 2018-19.
Some of the main points are:
- It provides up to five weeks of leave for new fathers to help break the pattern of mothers automatically taking on the greater share of child-rearing responsibilities. New parents will be able to share at least five additional weeks of leave following the birth of a child provided they also share the job of caring for the baby.
- Continued free access to national parks for children
- To explore ways to establish a national drug program.
- $3.2-billion over five years for Canadian science and research and expanding access to broadband internet.
- About $1.4-billion over six years to support Indigenous children in foster care and promote family reunification, plus $400 million over 10 years to upgrade and expand Inuit housing and $500 million for Metis housing
- Higher excise taxes on tobacco products, including a $1 increase on a carton of 200 cigarettes and an adjustment that would see taxes increase with inflation every year, rather than every five years.
- $155.2-million over five years for a new Canadian Centre for Cyber Security and $116-million over five years for the RCMP to create a National Cybercrime Co-ordination Unit.
- $448.5-million over five years to double the number of placements under the Canada Summer Jobs program by 2019-20.
- $90.6-million over five years to track down tax evaders and avoiders, plus $41.9-million over five years and $9.3-million a year thereafter to help Canada’s courts deal with the additional caseload.
- Changes to income sprinkling, passive investment income and the small business tax rate that are expected to save the government $925-million a year by 2022-23.
Read full details on the Federal 2018 Budget at this link: https://www.budget.gc.ca/2018/