Deputy Prime Minister and Minister of Finance Chrystia Freeland participates in a news conference to announce a new youth mental health fund at the National Press Theatre in Ottawa on Tuesday, April 9, 2024. THE CANADIAN PRESS/ Patrick DoyleOTTAWA - Finance Minister Chrystia Freeland has ruled out raising taxes on the middle class in the upcoming federal budget - but won't say if corporations or the wealthy are in for the same treatment.
“Young Canadians need us to make those investments - investments in housing, investments in affordability, investments in productivity and growth,” Freeland said. The Liberal government has been facing mounting pressures to rein in spending in order to avoid fuelling inflation or delaying rate cuts by the Bank of Canada. A slow economy is also weighing on government revenues, meaning there's fewer dollars to put toward new initiatives.
The House of Commons finance committee has also recommended a windfall tax on companies in all sectors that generate “oversized” profits during crises, as well as grocery giants, to fund another doubling of the GST rebate. Conservative MPs on the committee did not support the pre-budget recommendations.
As cost-of-living issues continue to drive politics, the Trudeau Liberals have been touring the country over the last two weeks to make announcements on measures included in the federal budget.
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