Deputy Prime Minister and Finance Minister Chrystia Freeland rises during Question Period, Monday, January 30, 2023 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
OTTAWA – Finance Minister Chrystia Freeland says she will table the 2023 federal budget on March 28.
It comes as the Canadian economy is expected to slow significantly this year and potentially enter a recession as high interest rates squeeze the budgets for individuals and businesses alike.
Freeland has stressed that the Liberal government is focused on fiscal restraint, so as to not work against the Bank of Canada’s efforts to tame inflation.
The Liberal government has been facing mounting pressure to rein in spending after years of deficits that have increased the country’s pre-existing debt.
The 2022 fall economic statement indicated Ottawa plans to introduce more measures to support Canada’s green transition and stay competitive with the United States on clean technology.
Health-care spending is likely to be another key element in the budget, as the federal government has tabled 10-year deals with most provinces already.
This report by The Canadian Press was first published March 10, 2023.
