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2016 Federal Budget Released

File photo.
File photo.

The Government of Canada has released the 2016 federal budget.

The nearly 270-page document is the first from Justin Trudeau and the liberal party and includes a number of highlights:

This year’s deficit is going to be $29.4-billion with deficits expected until at least 2020.

There is roughly $8-billion in new “middle class” spending. Changes include a new Canada Child Benefit that will see families receive a maximum of $6,400 per child under six.  Child tax credits for fitness, art and books for students are being cut.

Income splitting for seniors will be maintained.

A $2.4-billion in expansion of employment insurance will be enacted and $12-billion in infrastructure spending was also included.

An interesting omission was Canada Post.  There was no mention regarding home delivery, one way or the other.

 

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