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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. [2] The budget was meant to reflect Prime Minister Justin Trudeau's stated policy objective to "make life more affordable for Canadians" [3] while also reducing government expenditures.
In Canada, federal budgets are presented annually by the Government of Canada to identify planned government spending and expected government revenue, and to forecast economic conditions for the upcoming year. They are usually released in February or March, before the start of the fiscal year. All the Canadian provinces also present budgets.
The economic statement was eventually released at 4:11 PM EST that same day, and presented in the House of Commons by Government House Leader Karina Gould. The statement showed a deficit of $61.9 billion for 2023–24, exceeding Freeland's target of $40.1 billion or less, and left Trump's tariff threats largely unaddressed. [17]
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
Canadian public debt, or general government debt, is the liabilities of the government sector. [1]: 23 Government gross debt consists of liabilities that are a financial claim that requires payment of interest and/or principal in future.
The deficit was $1.7 trillion for the most recent fiscal year, which ended September 30, according to Treasury Department data released Friday. That marks a $320 billion, or 23%, increase from the ...
April 5 – 2023 Canada ice storm: Two people are killed and over a million people are without power after an ice storm strikes Ontario and Quebec. [29] April 9 – The 2023 Canadian Ringette Championships are held in Regina, Saskatchewan. National champions are decided in U16, U19, and National Ringette League divisions. [citation needed]
‹ 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 ]