The government will be tabling the federal 2022 budget on April 7, Deputy Prime Minister and Finance Minister Chrystia Freeland announced Tuesday.
The budget — the first since the 2021 federal election — is expected to include increased defence spending as well as funding for commitments, such as dental care, made as part of the new Liberal-NDP confidence-and-supply agreement.
The latest economic update, provided by Freeland virtually in December, saw the government commit more than $8 million towards combatting COVID-19, while also predicting a moderate decline in the naxjmtzywtional deficit.
The document forecast that the deficit in 2021-22 would drop to $144.5 billion, down from $154.7 billion estimated in the spring 2021 budget. In the 2022-23 fiscal year, the deficit was projected to sit at $58.4 billion, down slightly from the earlier predicted $59.7 billion.
In concluding their 2022 pre-budget hearings, MPs made more than 200 recommendations for what the budget should include or consider, based on their consultations with stakeholders, economists, and industry groups. Among them, presenting a plan to return to balance as soon as possible with adjustments for changing economic conditions; addressing the inequities exposed and exacerbated by the pandemic; and moving to meaningfully address housing affordability.
The vote on the budget — while typically in minority Parliaments is considered a test of the confidence the House of Commons has in the governing party — is expected to pass given the New Democrats have already committed their support.
RELATED IMAGESview larger image
Minister of Finance and Deputy Prime Minister Chrystia Freeland arrives to hold a press conference in Ottawa on Monday, Feb. 28, 2022. THE CANADIAN PRESS/Sean Kilpatrick
