2024 Canadian federal budget

Last updated

2024 (2024) budget of the Canadian federal government
Presented16 April 2024
Passed1 May 2024
Parliament 44th
Party Liberal
Finance minister Chrystia Freeland
Total revenue498 Billion (projected)
Total expenditures538 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.

Contents

Background

In March 2022, the New Democratic Party agreed to a confidence and supply deal with Justin Trudeau's Liberal Party. [2]

Measures

The budget's main goal is to reduce the cost of living. [3]

Reactions


Legislative history

Legislature Results Legislature participation.png
Legislature Results


House of Commons vote on the
Budget Implementation Act, 2024, No. 1
PartyYeaNayAbstentionAbsent
Liberals 156
Conservatives 1162
Bloc Québécois 311
New Democratic 24
Green 101
Independents1200
Total1811504


Related Research Articles

<span class="mw-page-title-main">Liberal Party of Canada</span> Federal political party

The Liberal Party of Canada is a federal political party in Canada. The party espouses the principles of liberalism, and generally sits at the centre to centre-left of the Canadian political spectrum, with their main rival, the Conservative Party, positioned to their right and the New Democratic Party positioned to their left. The party is described as "big tent", practising "brokerage politics", attracting support from a broad spectrum of voters. The Liberal Party is the longest-serving and oldest active federal political party in the country, and has dominated federal politics of Canada for much of its history, holding power for almost 70 years of the 20th century. As a result, it has sometimes been referred to as Canada's "natural governing party".

<span class="mw-page-title-main">Ralph Goodale</span> Canadian high commissioner to the U.K.; former Cabinet minister

Ralph Edward Goodale is a Canadian diplomat and retired politician who has served as the Canadian High Commissioner to the United Kingdom since April 19, 2021.

<span class="mw-page-title-main">Justin Trudeau</span> Prime Minister of Canada since 2015

Justin Pierre James Trudeau is a Canadian politician who has been the 23rd prime minister of Canada since 2015 and the leader of the Liberal Party since 2013.

<span class="mw-page-title-main">Dominic LeBlanc</span> Canadian politician (born 1967)

Dominic A. LeBlanc is a Canadian lawyer and politician who serves as Minister of Finance and Intergovernmental Affairs. He has been the minister of finance since December 2024 and minister of intergovernmental affairs since August 2020. A member of the Liberal Party, LeBlanc is the member of Parliament (MP) for Beauséjour. He has held a number of Cabinet portfolios throughout his tenure in government.

<span class="mw-page-title-main">Premiership of Stephen Harper</span>

The premiership of Stephen Harper began on February 6, 2006, when the first Cabinet headed by Stephen Harper was sworn in by Governor General Michaelle Jean. Harper was invited to form the 28th Canadian Ministry and become Prime Minister of Canada following the 2006 federal election, where Harper led his Conservative Party to win a plurality of seats in the House of Commons of Canada, defeating the Liberal government of Prime Minister Paul Martin. Harper led his Conservatives to win a larger minority government in 2008, and then a majority government in 2011. In the 2015 federal election, Harper's Conservatives lost power to a Liberal majority government led by Justin Trudeau.

In parliamentary democracies based on the Westminster system, confidence and supply is an arrangement under which a minority government receives the support of one or more parties or independent MPs on confidence votes and the state budget ("supply"). On issues other than those outlined in the confidence and supply agreement, non-government partners to the agreement are not bound to support the government on any given piece of legislation.

<span class="mw-page-title-main">Chrystia Freeland</span> Canadian politician and journalist (born 1968)

Christina Alexandra Freeland is a Canadian politician and journalist who has served as the member of Parliament (MP) for University—Rosedale since 2015. She previously served as the tenth deputy prime minister of Canada from 2019 to 2024. A member of the Liberal Party, she was first elected to the House of Commons of Canada in a by-election in 2013. First appointed to the Cabinet following the 2015 federal election, she has served in various posts including as the minister of finance from 2020 until her resignation from the 29th Canadian Ministry in 2024.

The New Democratic Party is a federal political party in Canada. Widely described as social democratic, the party sits at the centre-left to left-wing of the Canadian political spectrum, with the party generally sitting to the left of the Liberal Party. The party was founded in 1961 by the Co-operative Commonwealth Federation (CCF) and the Canadian Labour Congress (CLC).

This article covers the history of the New Democratic Party of Canada.

<span class="mw-page-title-main">29th Canadian Ministry</span> Government cabinet of Canada since 2015

The Twenty-Ninth Canadian Ministry is the Cabinet, chaired by Prime Minister Justin Trudeau, that began governing Canada shortly before the opening of the 42nd Parliament. The original members were sworn in during a ceremony held at Rideau Hall on November 4, 2015. Those who were not already members of the privy council were sworn into it in the same ceremony. The Cabinet currently consists of 35 members including Trudeau, with 17 women and 18 men. When the ministry was first sworn in, with 15 men and 15 women, it became the first gender-balanced cabinet in Canadian history.

<span class="mw-page-title-main">Ginette Petitpas Taylor</span> Canadian politician

Marie Ginette Petitpas Taylor is a Canadian politician who has been representing the riding of Moncton—Riverview—Dieppe in the House of Commons of Canada since the 2015 federal election. She is a member of the Liberal Party of Canada and a former Minister of Health, and is a member of the Canadian Branch of the Commonwealth Parliamentary Association as well as the Canadian NATO Parliamentary Association.

<span class="mw-page-title-main">Premiership of Justin Trudeau</span>

The premiership of Justin Trudeau began on November 4, 2015, when the first Cabinet headed by Justin Trudeau was sworn in by Governor General David Johnston. Trudeau was invited to form the 29th Canadian Ministry and become Prime Minister of Canada following the 2015 federal election, where Trudeau led his Liberal Party to win a majority of seats in the House of Commons of Canada, defeating the Conservative government of Prime Minister Stephen Harper. Trudeau's Liberals were reduced to minority governments in the federal elections of 2019 and 2021, with his party losing the national popular vote twice.

The Canadian federal budget for the fiscal years of 2020–21 and 2021–22 was presented to the House of Commons by finance minister Chrystia Freeland on 19 April 2021. The Canadian government did not produce a budget in 2020 due to the COVID-19 pandemic. Instead, the government produced a series of economic updates and stimulus plans throughout the year.

<span class="mw-page-title-main">2025 Canadian federal election</span> Next general election in Canada

The 2025 Canadian federal election will take place on or before October 20, 2025, to elect members of the House of Commons to the 45th Canadian Parliament. The date of the vote is determined by the fixed-date provisions of the Canada Elections Act, which requires federal elections to be held on the third Monday in October in the fourth calendar year after the polling day of the previous election. In addition to the statutory fixed election date provisions, Canada has a constitutional requirement specified in both section 50 of the Constitution Act, 1867 and section 4 of the Canadian Charter of Rights and Freedoms that elections for the House of Commons must be called no more than five years after the writs for the preceding election are returned.

<span class="mw-page-title-main">44th Canadian Parliament</span> Session of the Canadian Parliament (2021–present)

The 44th Canadian Parliament is the session of the Parliament of Canada which began on 22 November 2021, with the membership of the House of Commons, having been determined by the results of the 2021 federal election held on 20 September. Parliament officially resumed on 22 November with the re-election of Speaker Anthony Rota, and the Speech from the Throne read by Governor General Mary Simon the following day.

<span class="mw-page-title-main">2022 Canadian federal budget</span>

The Canadian federal budget for the fiscal years of 2022–23 was presented to the House of Commons by Finance Minister Chrystia Freeland on 7 April 2022.

<span class="mw-page-title-main">2023 Canadian federal budget</span>

The Canadian federal budget for the fiscal years of 2023–24 was presented to the House of Commons by Finance Minister Chrystia Freeland on 28 March 2023. The budget was meant to reflect Prime Minister Justin Trudeau's stated policy objective to "make life more affordable for Canadians" while also reducing government expenditures.

<span class="mw-page-title-main">2024–2025 Canadian political crisis</span> Political crisis in Canada from 2024 to 2025

A political crisis emerged in Canada after Chrystia Freeland, the minister of finance and deputy prime minister, resigned from Cabinet on 16 December 2024. The events "sent shockwaves" through Canadian politics, leading to calls for Trudeau to resign. On 6 January 2025, Prime Minister Justin Trudeau announced his pending resignation as leader of the Liberal Party and as the Prime Minister of Canada. He also asked the governor-general to prorogue Parliament until March.

<span class="mw-page-title-main">2025 Liberal Party of Canada leadership election</span> Party election in Canada

The Liberal Party of Canada will hold a leadership election to elect a successor to Justin Trudeau following his announcement on January 6, 2025, of his intention to resign as party leader and as prime minister of Canada as soon as a new leader is elected. The party will choose its new leader on March 9. The new leader is expected to assume office as the 24th prime minister of Canada and appoint the 30th Canadian ministry and lead the party into the upcoming federal election.

<span class="mw-page-title-main">Resignation of Justin Trudeau</span> 2025 resignation of the prime minister of Canada

The resignation of Justin Trudeau separately as the prime minister of Canada and leader of the Liberal Party was announced on January 6, 2025, given at a press conference by Justin Trudeau at his residence at Rideau Cottage in Ottawa. Trudeau, who was appointed prime minister in 2015, had been facing a heavy decline in public opinion polling and had been gradually losing the confidence of the House of Commons and Liberal Party members leading up to the 2025 federal election.

References

  1. Taylor-Vaisey, Nick (16 April 2024). "Trudeau delivers 'Gen Z budget'". POLITICO. Retrieved 29 December 2024.
  2. "Liberals, NDP agree to confidence deal seeing Trudeau government maintain power until 2025". CTV News . 22 March 2022.
  3. Tasker, John Paul (16 April 2024). "Freeland's new federal budget hikes taxes on the rich to cover billions in new spending". CBC News.