Today the Liberal government announced the official 2016 Federal Budget plan moving forward for the next four years. Take a look at the breakdown Justin Trudeau and his cabinet introduced today down below. Check back every morning for 5 Things You Need To Know to follow more local and international buzzing news.
MIDDLE CLASS TAX CUTS
One of the main objectives of the Liberal government’s Federal budget plan is to improve the middle class by offering bigger tax cuts.
— Justin Trudeau (@JustinTrudeau) March 22, 2016
The Liberal budget is big on spending with no urgent plan to pay it back. The deficit is up to $29.4 billion this year. No word as to how legalized marijuana would play into creating revenue to pay back budget.
— David Ljunggren (@reutersLjungg) March 22, 2016
Infrastructure $120 billion over 10 years
– Public Transit $3.4 billion
– Homeless Strategy $112 million
– First Nations $8.4 billion over 5 years
– Canada Child Benefit $23 billion will get 330,000 children out of poverty
— FinanceCanada (@FinanceCanada) March 22, 2016
The new Canada Child Benefit will help families more than any other public policy since universal healthcare. pic.twitter.com/tyepwXhv5w
— Bill Morneau (@Bill_Morneau) March 22, 2016
– 100,000 jobs
– 35,000 summer jobs for students
DTN Canada: Federal budget 2016: Trudeau's pledge of jobs for young Canadians: Prime Minister Justin Trudeau, … https://t.co/bYIUTYj6zn
— DTN Canada (@DTNCanada) March 19, 2016
Conservatives were vocal about their opposition about the Federal budget, with Interim Conservative Leader Rona Ambrose calling it a “disaster” for taxpayers.
— Rona Ambrose (@RonaAmbrose) March 22, 2016