The 2024 federal budget will be presented on Tuesday, April 16, Deputy Prime Minister and Finance Minister Chrystia Freeland announced Monday.
The 2024 federal budget will provide Canadians a full picture of the state of the country’s finances and an overall economic outlook, as well as further Liberal spending plans amid an ongoing affordability crisis.
According to the finance minister, the massive fiscal document will “unlock pathways to a good middle class life for the next generation.”
“Our economic plan is about building more homes, faster, making life more affordable, and creating more good jobs… because Canada is stronger when everyone has an equal chance to succeed,” Freeland said in a statement announcing the date of the next budget.
Freeland broke with the tradition of rising in the House of Commons to confirm the date of the annual economic presentation, as MPs are not in Ottawa this week.
For months the Liberals have been holding weekly press conferences to provide often incremental updates on various affordability measures, from grocery competition to homebuilding initiatives.
Noting Canadians continue to feel the squeeze of inflation and high interest rates in their everyday lives, while increasingly becoming preoccupied about looming mortgage renewals, Freeland’s last fiscal update in November 2023 focused on housing affordability, while trying to maintain a degree of fiscal restraint.
As the minority Liberals continue to scale back new spending and try to find billions in savings, that economic check-in was not a major spending package, with the more sizeable financial commitments earmarked to roll out the door in 2025, the year of the next scheduled federal election.
As of the fall economic update, the federal deficit was projected to be $40 billion in 2023-24, and $38.4 billion in 2024-25. In the revised look at the books, Freeland also stopped forecasting federal coffers will get back to Prime Minister Justin Trudeau’s stated goal of balance, at any point in the next six years.
At the same time, the finance minister pledged to maintain a declining deficit-to-GDP ratio in 2024-25 and keep deficits below one per cent of GDP in 2026-27 and future years.
With this upcoming federal budget, Freeland will be seeking to balance the federal government’s stated goal of fiscal prudence, with the more than 300 recommendations of what to include, as presented by the House of Commons Finance Committee in its pre-budget consultation report last week.
The next budget will also be a key political document. While the federal New Democrats continue to back the Liberals on confidence matters—a two-party deal recently strengthened by the introduction of pharmacare legislation— Conservative Leader Pierre Poilievre has maintained a double-digit lead over the Liberals with his largely economy-focused partisan attacks.
Further, international pressure on Canada to meet its NATO two per cent target for defence spending has ramped up in recent weeks.
Reacting to the news of the budget date, and noting the decline in GDP per-capita for six straight quarters, the Business Council of Canada is calling for the federal government to prioritize economic growth.
“The government has an opportunity to implement growth policies, including many of its own previous commitments, without putting an unfair financial burden on future generations,” said Business Council of Canada CEO Goldy Hyder in a statement. “This approach will ensure the long-term viability of our cherished social programs and living standards, while allowing Canada to compete and succeed on the world stage.”
PORT ALBERNI, B.C. – RCMP say the body of a second person has been found inside their vehicle after a road washed away amid pouring rain on the west coast of Vancouver Island.
Police say two vehicles went into the Sarita River when Bamfield Road washed out on Saturday as an atmospheric river hammered southern B.C.
The body of the other driver was found Sunday.
More coming.
The Canadian Press. All rights reserved.
The B.C. Greens say Sonia Furstenau will be staying on as party leader, despite losing her seat in the legislature in Saturday’s provincial election.
The party says in a statement that its two newly elected MLAs, Jeremy Valeriote and Rob Botterell, support Furstenau’s leadership as they “navigate the prospect of having the balance of power in the legislature.”
Neither the NDP led by Premier David Eby nor the B.C. Conservatives led by John Rustad secured a majority in the election, with two recounts set to take place from Oct. 26 to 28.
Eby says in a news conference that while the election outcome is uncertain, it’s “very likely” that the NDP would need the support of others to pass legislation.
He says he reached out to Furstenau on election night to congratulate her on the Greens’ showing.
But he says the Green party has told the NDP they are “not ready yet” for a conversation about a minority government deal.
The Conservatives went from taking less than two per cent of the vote in 2020 to being elected or leading in 45 ridings, two short of a majority and only one behind the NDP.
This report by The Canadian Press was first published Oct. 22, 2024.
The Canadian Press. All rights reserved.
Toronto FC captain Jonathan Osorio is making a difference, 4,175 kilometres away from home.
The 32-year-old Canadian international midfielder, whose parents hail from Colombia, has been working with the Canadian Colombian Children’s Organization, a charity whose goal is to help disadvantaged youth in the South American country.
Osorio has worked behind the scenes, with no fanfare.
Until now, with his benevolence resulting in becoming Toronto FC’s nominee for the Audi Goals Drive Progress Impact Award, which honours an MLS player “who showed outstanding dedication to charitable efforts and serving the community” during the 2024 season.”
Other nominees include Vancouver Whitecaps midfielder Sebastian Berhalter and CF Montreal goalkeeper Jonathan Sirois.
The winner will be announced in late November.
The Canadian Colombian Children’s Organization (CCCO) is run entirely by volunteers like Monica Figueredo and Claudia Soler. Founded in 1991, it received charitable status in 2005.
The charity currently has four projects on the go: two in Medellin and one each in Armenia and Barranquilla.
They include a school, a home for young girls whose parents are addicted to drugs, after-school and weekend programs for children in a disadvantaged neighbourhood, and nutrition and education help for underprivileged youth.
The organization heard about Osorio and was put in contact with him via an intermediary, which led to a lunch meeting. Osorio did his due diligence and soon got back to the charity with his decision.
“It was something that I wanted to be a part of right away,” said Osorio, whose lone regret is that he didn’t get involved sooner.
“I’m fortunate now that to help more now that I could have back then,” he added. “The timing actually worked out for everybody. For the last three years I have donated to their cause and we’ve built a couple of (football) fields in different cities over there in the schools.”
His father visited one of the sites in Armenia close to his hometown.
“He said it was amazing, the kids, how grateful they are to be able to play on any pitch, really,” said Osorio. “But to be playing on a new pitch, they’re just so grateful and so humble.
“It really makes it worth it being part of this organization.”
The collaboration has also made Osorio take stock.
“We’re very fortunate here in Canada, I think, for the most part. Kids get to go to school and have a roof over their head and things like that. In Colombia, it’s not really the same case. My father and his family grew up in tough conditions, so giving back is like giving back to my father.”
Osorio’s help has been a godsend to the charity.
“We were so surprised with how willing he was,” said Soler.
The TFC skipper has helped pay for a football field in Armenia as well as an ambitious sports complex under construction in Barranquilla.
“It’s been great for them,” Figueredo said of the pitch in Armenia. “Because when they go to school, now they have a proper place to train.”
Osorio has also sent videos encouraging the kids to stay active — as well as shipping soccer balls and signed jerseys their way.
“They know more about Jonathan than the other players in Colombia,” Figueredo said. “That’s the funny part. Even though he’s far away, they’ve connected with him.”
“They feel that they have a future, that they can do more,” she added. “Seeing that was really, really great.”
The kids also followed Osorio through the 2022 World Cup and this summer’s Copa America.
Back home, Osorio has also attended the charity’s annual golf tournament, helping raise funds.
A Toronto native, he has long donated four tickets for every TFC home game to the Hospital for Sick Children.
Vancouver’s Berhalter was nominated for his involvement in the Whitecaps’ partnership with B.C. Children’s Hospital while Montreal’s Sirois was chosen for his work with the Montreal Impact Foundation.
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This report by The Canadian Press was first published Oct. 21, 2024.
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