2024 Budget invests in innovation and productivity
New measures to support economic growth and reduce deficit
The Honourable Chrystia Freeland will present Budget 2024 in the House of Commons today
Ottawa, Ontario – The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present Budget 2024 in the House of Commons today. The budget includes new measures to invest in innovation, support economic growth, and reduce the deficit.
"Budget 2024 is a plan to grow our economy and make life more affordable for Canadians," said Minister Freeland. "We are investing in the things that matter most to Canadians, like innovation, clean energy, and affordable housing."
Key measures in Budget 2024 include:
- _$6 billion Canada Disability Benefit_
- _$1 billion national school food program_
- _$2 billion investment in clean energy_
- _$1 billion investment in affordable housing_
Budget 2024 also includes measures to reduce the deficit. The government is forecasting a deficit of $36.4 billion in 2024-25, down from $53.3 billion in 2023-24. The deficit is expected to decline to $21.2 billion in 2026-27 and $12.9 billion in 2027-28.
The government is committed to maintaining a declining deficit-to-GDP ratio and keeping deficits below 1 per cent of GDP in 2026-27 and future years.
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