Budget 2022: A look at the highlights of the federal Liberal fiscal plan
OTTAWA — Finance Minister Chrystia Freeland tabled the 2022 federal budget on Thursday. Here are some of the highlights:
— $452.3 billion in new spending on projected revenue of $408.4 billion for a deficit of $52.8 billion. The debt to GDP ratio is pegged at 45.1 per cent.
— $4 billion over the next five years to launch a new fund in the Canada Housing and Mortgage Corporation to help cities and municipalities create more affordable housing, and $1.5 billion over two years to the CMHC’s Rapid Housing Initiative to create 6,000 new affordable housing units with at least one-quarter of the funding dedicated to women-focused projects.
— $625 million over four years, starting in 2023-24, for child care, to help the provinces and territories build new facilities and make new investments. The new funding is a followup to the various federal child-care agreements with the provinces and territories after they raised concerns that non-profit and public providers were facing soaring real estate and building material costs.