The news and media outlets have been abuzz with the much-anticipated release of the Liberals' 2016 budget yesterday, March 22nd. This is the inaugural budget of Finance Minister Bill Morneau and the Liberal government under Prime Minister Justin Trudeau.
Key measures outlined in the federal budget include $120-billion towards infrastructure over the next ten years (focusing on public transit, water, waste management and housing infrastructure), and what Trudeau is calling an "historic" investment towards Indigenous Peoples; promising $8.4 over five years to improve education, drinking water and housing, and family and child services for First Nations.
Overall, #Budget2016 has divided Canadians into two distinct groups, with some very clear winners and losers emerging. In addition to infrastructure and Aboriginal Peoples, the budget plans for substantial investment towards veterans, families, those seeking EI benefits, and the environment.
On the "losing" side however are National Defence, students and families who benefited from tax breaks, and small business owners - who will not see the reduced tax rates promised in the Liberal party's election campaign.
Please CLICK HERE to read an article on the Winners and Losers of the 2016-17 Budget.
Please CLICK HERE to read an article on 10 ways the budget will affect your finances.
FIVE YEARS OF DEFICITS AHEAD
The Liberals came into power with the campaign promise of new spending that would see four years of "modest deficits" of no more than $10-billion a year totalling 26 billion overall. So #budget2016's biggest shock is that the Liberals have budgeted for five years of deficits totalling more than $113-billion.
Conservative Interim-Leader Rona Ambrose has very vocally come out in opposition of the budget, calling it a "nightmare scenario" from a taxpayers' perspective and reminding the Liberals of their three campaign promises to cap the deficit at $10-billion per year, to be fiscally responsible and to return to a balanced budget by 2019.
However, Minister Bill Morneau and Prime Minister Justin Trudeau continue to reassure Canadians that the spending is necessary to invest in Canada's future.
WHAT YOU CAN DO:
1) Please sign and share this petition telling Prime Minister Justin Trudeau that Canadians do not want this outrageous amount of debt. Find the petition by clicking here now.
FURTHER READING ON #BUDGET2016"
Federal budget 2016: Highlights of Bill Morneau's first budget
Trudeau’s first budget aims to spur growth with $29-billion deficit
Liberals' 2016 Budget Opts For Big Spending Over Restraint