The Decibel What the 2024 federal budget means for you
Apr 17, 2024
Unveiling the 2024 federal budget's impact on affordability, housing, defense, and tax hikes. Experts analyze funding sources, housing construction criteria, and capital gains tax changes. Government's focus on inflation control, financial fairness, and housing market initiatives.
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Government's Spending Strategy
- The government plans to combat rising populist sentiments through substantial spending and tax hikes on the wealthy.
- This reflects a strategy to maintain an activist governmental role despite low polling numbers.
Scale of New Spending
- The new budget includes $53 billion in spending over five years, comparable to pandemic-era spending levels.
- This scale of spending is significant for understanding the government's financial commitments.
Utilize New Housing Programs
- Take advantage of the new $15 billion apartment construction loan program aimed at building rental units.
- Ensure that your rental project meets the affordable housing requirements to qualify.