The Big Story
What the federal budget means for you
Apr 17, 2024
Economist Jim Stanford discusses the federal budget's impact on Canadians' wallets, aiming to make life more affordable. They delve into measures addressing housing affordability, changes in capital gains tax rates, and innovations in social programs like PharmaCare and dental coverage. The podcast also analyzes government finances, revenue sources, and investments in youth mental health and innovation.
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Quick takeaways
- The federal budget introduces incremental measures to tackle affordability challenges in housing, aiming to alleviate the cost of living for Canadians.
- Adjusting capital gains tax measures aims to reduce preferential treatment for high-income individuals, generating revenue and addressing skewed benefits in asset transactions.
Deep dives
Impact of the Budget on Affordability Measures
The budget aims to address affordability challenges faced by Canadians, earning a B grade from economist Jim Stanford. While recognizing that it won't solve all affordability issues due to economic factors, the budget introduces incremental measures benefitting various groups. The focus on housing, with 15 to 20 measures addressing the crisis, stands out as a significant intervention by the federal government. Overall, the budget is expected to make a positive difference, although no single measure is termed game-changing.
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