2024 Canadian federal budget

2024 budget of the Canadian federal government

Presented	16 April 2024
Passed	1 May 2024
Parliament	44th
Party	Liberal
Finance minister	Chrystia Freeland
Total revenue	498 Billion (projected)
Total expenditures	538 Billion (projected)
Deficit	40 Billion (projected)
GDP	TBA
Website	2024 budget
‹  2023 2025›

The Canadian federal budget for the fiscal years of 2024–25 was presented to the House of Commons by Finance Minister Chrystia Freeland on 16 April 2024. ^[1] The budget's slogan is "Fairness for every generation", suggesting the government planned to help younger people. ^[2] This budget was the final budget presented under the premiership of Justin Trudeau and the 29th Canadian Ministry, with Trudeau and the 29th Ministry being succeeded by Mark Carney as prime minister and the 30th Canadian Ministry, respectively, on March 14, 2025.

Background

In March 2022, the New Democratic Party agreed to a confidence and supply deal with Justin Trudeau's Liberal Party. ^[3]

Measures

The budget's main goal is to reduce the cost of living. ^[4]

Notable for science policy were increases in research spending, in particular $2.6 billion to train Canadian researchers through grants, scholarships and fellowships for graduate students, $1.3 billion to improve affordability of post-secondary education through grants, interest-free loans, and housing allowances for students, and $734 million for research infrastructure. These expenditures are expected to support more scientific research and innovation in Canada. ^{[5] [6]}

Legislative history

Legislature Results

House of Commons vote on the
Budget Implementation Act, 2024, No. 1

Party		Yea	Nay	Abstention	Absent
	Liberals	156
	Conservatives		116		2
	Bloc Québécois		31		1
	New Democratic	24
	Green		1	0	1
	Independents	1	2	0	0
Total		181	150		4

References

1. Taylor-Vaisey, Nick (16 April 2024). "Trudeau delivers 'Gen Z budget'". POLITICO. Retrieved 29 December 2024.
2. Canada, Department of Finance (16 April 2024). "Budget 2024". www.budget.canada.ca. Retrieved 6 March 2025.
3. "Liberals, NDP agree to confidence deal seeing Trudeau government maintain power until 2025". CTV News . 22 March 2022. Archived from the original on 22 March 2022.
4. Tasker, John Paul (16 April 2024). "Freeland's new federal budget hikes taxes on the rich to cover billions in new spending". CBC News.
5. Canada, Department of Finance (30 May 2024). "Budget 2024: Supporting the Next Generation of Researchers and Innovators". www.canada.ca. Retrieved 6 March 2025.
6. "Funding the future : Canada's investment in research during critical times". open.spotify.com (Podcast) (in English and French). Ottawa: Canadian Science Policy Centre. 2025. Retrieved 6 March 2025.

External links

• Budget 2024 at Department of Finance