The 2023 Canadian federal budget, to be unveiled on March 28, will prioritize three main areas: affordable living measures, investments in the clean industrial economy, and additional resources for provincial healthcare funding. Despite these priorities requiring significant spending, the budget will be constrained by a worsening fiscal situation. Experts suggest that Canada needs a focused approach to its economic recovery and policies centered on factors such as electric vehicles, batteries, green manufacturing, biosciences, and growing the electrical grid. The budget is also expected to include a training component, as the country transitions to these new sectors, which will require upskilling jobseekers. In addition, the budget will aim to promote simplicity and ensure that the benefits of the budget will be easily accessible. With regards to healthcare, the budget will include $198.6 billion over 10 years, with $49 billion of that being new funding, for the Canada Health Transfer and other agreements. The budget will also provide insight into the financial implications of healthcare packages on the country\’s bottom line. While there are few surprises expected in this budget, defense spending remains a concern as the Canadian military continues to assist Ukraine in defending itself from Russia.
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