Breaking down the 2024 federal budget

The Liberal government has laid out its 2024 Federal Budget, with new spending focused on issues such as housing, defence, and childcare, with new tax measures to help offset the cost.  

Rebekah Young, Scotiabank Economist and Head of Inclusion and Resilience Economics, joins us to break down the key takeaways Canadians need to know about the federal government’s spending plan, what is missing from the budget, and the impact it is likely to have on the broader economy and inflation. 

Read Rebekah’s full report: Canada’s 2024 Federal Budget. 

Key moments this episode: 

1:21 — A look at overall spending and key items 

3:19 — Key buckets of spending important for Canadians 

5:41 — Tax measures and other ways the federal government plans to pay for this new spending 

8:23 — A primer on capital gains 

10:24 — What impact these tax measures will have on productivity 

11:56 — What's the economic impact of this budget, near term and long term? What does it mean for housing and inflation in Canada? 

15:37 — The main thing Rebekah is taking away