Freeland’s budget bases Canada’s future heavily on attraction and retention of foreign direct investment
TORONTO—When members of the European Union, in response to Russia’s invasion of Ukraine, announced plans to wean themselves off Russian oil and gas, Canada’s fossil fuel producers saw this as an opportunity to boost oil and gas production, despite the environmental damage. Australia had a different response. Fortescue Metals, an Australian-controlled business, announced a dramatic […]
Long-term funding for infrastructure projects crucial for Indigenous self-governance, says expert
This year’s budget reaffirms past billion-dollar federal commitments to fund the long-term infrastructure needs of Indigenous communities, but some advocates are calling for clarity to make sure First Nations are not left holding the bag for assets they do not have sufficient resources to properly maintain as many negotiate for greater self-government. Lynne Groulx, the […]
Russia-Ukraine ‘war-supply shock’ could erode Canada’s positive financial situation, warns former PBO
“Today, Canada has come roaring back,” federal Finance Minister Chrystia Freeland declared in the House of Commons on April 7, echoing a familiar promise Prime Minister Justin Trudeau used throughout the pandemic. Canada’s deficit is projected to drop to $52.8-billion this year, down slightly from the $58.4-billion estimated for 2022-23 in December’s fiscal update—and both […]
Liberals’ budget doesn’t crack through favoured performative veneer
OTTAWA—What a patriarchal budget from a so-called “feminist.” It just goes to show you can’t girl-boss your way out of neoliberalism. On Thursday, April 7, Canada’s first female minister of finance, who bathes herself in the feminism identity, rose in the House of Commons to deliver her second budget. And it’s abysmal. As YWCA’s statement […]
Economic reconciliation needs more than what the budget presents
We hope that last week’s federal budget is not a missed opportunity for Canada to make meaningful changes in its relationship with First Nations—but it may be unless it is accompanied soon by legislation that expands First Nations’ jurisdictions and institutional support. Despite $10.6-billion of new investments over five years in the chapter on reconciliation […]
Need for austerity is ‘fundamentally disproven’ by 2022 budget: economists
With its latest budget, the government finds itself in “an enviable fiscal moment,” say economists, leading some to conclude that austere approaches to balancing the budget “have been relegated to history.” “The government’s fiscal response to the pandemic—injecting huge amounts of spending power when we needed it most—has actually allowed us to have smaller deficits […]
‘No time to lose’: Indo-Pacific strategy highly anticipated after absence from budget
Absent from the latest federal budget were commitments to Indo-Pacific priorities as Canadians await the government’s much-anticipated strategy for engagement in the region. In the budget tabled on April 7, the Liberal government pledged an additional $8-billion in defence funding and to complete a defence review. Deputy Prime Minister and Finance Minister Chrystia Freeland’s (University-Rosedale, […]
Next defence policy review unlikely to alter dated Strong, Secure, Engaged approach: Q&A with Kim Richard Nossal
The next defence policy review is unique in Canadian history, representing the first time a prime minister has conducted a review twice in their tenure, but it’s unlikely to achieve different results than the past, says procurement expert Kim Richard Nossal. “What we’re going to find [is] that we do three things in the world: […]
Hawks fuelled fears to open the defence treasure chest
OTTAWA—On April 7, Finance Minister Chrystia Freeland tabled the joint Liberal and NDP budget. As was widely expected, the federal government has pledged to significantly increase the defence budget by as much as $8-billion. This sizeable boost will push Canada to the brink of the collective NATO goal of member states spending two per cent […]
Feds’ housing announcement should be called Back to the Future
The federal budget’s $10-billion housing announcement should be nicknamed Back to the Future. Most Canadians may be too young to remember the time more than three decades ago when the federal government was solely responsible for housing. In the post-war period, the national housing drive spawned affordable housing for returning veterans which still stands today. […]
