Canadian Investors: What You Need to Know About the 2017 Federal Budget

Cornelia Mascio
Aprile 2, 2017

Morneau's sentiment-one he shares with self-declared feminist Prime Minister Justin Trudeau-is backed up within the budget documents tabled before the House, and not only within the lengthy "gender statement" section which analyzes budget items through a gender-balanced lens.

"For Canada, risks to the economic outlook are still highly contingent on the state of the world economy", the government said. CIHR, meanwhile, could receive modest amounts from separate plans to identify climate change health risks and to reduce drug and substance abuse, the officials added. Last year's Canada Child Benefit and middle-bracket tax cut were much easier sells.

However, even with the changes, annual deficit projections later in the outlook - from 2019-20 to 2012-22 - are expected to be little bigger than previously thought. "This budget shows British Columbians the Liberal government is more of the same".

The details of most of the new strategic plans and national funds are sketchy, and Morneau indicated they won't be released for months.

Ottawa also pledged $125 million to launch an artificial intelligence institute and to promote collaboration between the country's main centres of expertise in Montreal, Toronto-Waterloo and Edmonton.

Supporting our veterans is a crucial responsibility, and we're building on the progress made in last year's budget by introducing a new Education and Training Benefit to provide more money for veterans to go to college, university, or technical school after their service. "It's pretty clear they're going to do something about that", Scotiabank Chief Economist Jean-Francois Perrault said. "This is a good start", Tootoo said.

The Canadian government's Federal Budget 2017 is in, and it is offering targeted investments to tackle what it calls the "challenge of change".

But Ben Bergen said he was hoping for a bigger federal investment into the creation of an intellectual-property strategy. This budget provides $950 million to support organizations, like Communitech in our region, who are innovation leaders.

The budget also gives $39.9 million over five years for Statistics Canada to create a national database of every property in Canada, including up-to-date information on sales, the degree of foreign ownership and homeowner demographics and finances to answer questions about the skyrocketing cost of housing.

The ratio - a measure of the public debt burden - is now projected to only drop below 2016-17 levels in 2020-21.

From a fiscal perspective, the Budget projects the 2017 deficit to be $27.8 Billion (slightly larger than was forecasted in the Fall), the 2018 deficit to be $25.9 Billion to be followed by additional significant deficits through 2021.

And the budget, with its lower-than-expected deficit projection of $25.5 billion for the coming fiscal year — it swells to $28.5 billion when a $3 billion contingency reserve is included — is created to help them get there.

The budget has not mentioned any timeframe to balance the books.

A government source, who declined to be named because he was not authorized to speak to the media, said the budget's promises of long-term fiscal responsibility should appeal to the political right while the plans for social housing would placate the left. "You have to spend in the billion-dollar range, and we are definitely not there".

On the environment, the Liberals seem ready to forge ahead no matter what happens in the U.S. The budget lays out billions in everything from research to green infrastructure to help Canadian companies take advantage of global demand for clean technologies.

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