The Government’s fiscal position includes a projected deficit in 2017-2018 of $19.4 billion, and projected deficits in the coming years as follows: 2018-2019 of $18.1 billion, 2019-2020 of $17.5 billion, 2020-2021 of $16.9 billion, 2021-2022 of $13.8 billion and 2022-2023 of $12.3 billion.
The Federal Government notes:
- No change to the personal and corporate tax rates, nor inclusion rate on taxable capital gains.
- $1.7 billion over five years to support research in big data.
- $40 billion over ten years to create 100,000 new housing units and repair 300,000 units as part of the National Housing Strategy.
- $1.4 billion in financing over three years for women entrepreneurs through the Business Development Bank of Canada.
- $116 million over five years to the RCMP to support the National Cybercrime Coordination Unit.
- $360 million over three years towards an Indigenous Early Learning and Child Care Framework for First Nations, Inuit and Metis Nation children.
- $100 million over five years directed to Status of Women Canada to enhance the Women’s Program (training, skills development, community engagement).
- $100 million for early learning and child care innovation, plus $95 million to better understand what child care looks like in Canada, over eleven years.
- $75 million to support the Healthy Seniors Pilot Project in New Brunswick.
- $90.6 million to CRA over five years to address additional cases of potential tax evasion/avoidance identified through enhanced risk assessment systems.
- $41.9 million to the Courts Administration Service over five years, plus $9.3 million per year ongoing, including support for new front-line registry and judicial staff, most expected to support the Tax Court of Canada.