Liberal Finance Minister Bill Morneau tabled the 2017 federal budget in the House of Commons today and it promises to get Canadians ready for a changing world.
The budget earmarks $5.2 billion for skills development and commits $3 billion to support innovation over the next five years. The innovation and skills plan targets six sectors the Liberals think will be spurring economic growth and creating good paying jobs: advanced manufacturing, clean technology, the agri-food sector, digital industries, clean resources, and health and bio-sciences.
The budget also commits $7 billion dollars over the next ten years to affordable child care.
The cost of EI premiums is rising by five cents for every $100 of insurable earnings. Taxes on alcohol and cigarettes are going up. The excise duties charged to the manufacturers and importers of those products are rising, which means those costs will be passed along to consumers.
Overall, the budget is forecasting a deficit of $28.5 billion for 2017 - 2018.
Wed, Apr 24, 10:00 AM
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