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Legislative bills

Federal Government Requests $486.9-Billion in Spending

Strategic Insights

— 1 min read

The federal government has tabled main estimates seeking $486.9-billion for government programs and transfers, a figure that Conservative Leader Pierre Poilievre has rejected as "totally irresponsible." The estimates represent an increase of $37.7-billion from the previous year's main estimates, and the government will need the support of MPs from other parties to pass the spending through the House of Commons. Prime Minister Mark Carney is set to table a budget in the fall, but his party's plans for spending and tax cuts over four years have been outlined in their April campaign platform, which projects a deficit of 1.96 per cent of GDP this fiscal year.

Key Takeaways:

  • The federal government has requested $486.9-billion in spending for government programs and transfers.
  • The estimates represent an increase of $37.7-billion from the previous year's main estimates.
  • Conservative Leader Pierre Poilievre has rejected the spending as "totally irresponsible."
  • Prime Minister Mark Carney is set to table a budget in the fall.
  • The Liberal Party's April campaign platform projects a deficit of 1.96 per cent of GDP this fiscal year.
  • The platform also outlines nearly $130-billion in new spending and tax cuts over four years.
  • The Conservatives may support some Liberal government measures, including a cut to personal income taxes.
  • The government will need the support of MPs from other parties to pass the spending through the House of Commons.

Statistics:

  • $486.9-billion: requested federal government spending for government programs and transfers
  • $37.7-billion: increase in spending from the previous year's main estimates
  • 1.96 per cent of GDP: projected deficit this fiscal year
  • $62.3-billion: projected deficit for this fiscal year
  • 1.83 per cent of GDP: projected deficit for next year
  • $59.9-billion: projected deficit for next year
  • $130-billion: new spending and tax cuts over four years
  • $32-billion: average annual spending and tax cuts over four years

Sources:

  • Globe and Mail
  • Throne Speech

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