The Federal Government highlighted some funding announcements from the 2022 budget today.
It includes funding- $475 million- for a onetime payment of $500 for Canadians who are facing challenges with housing affordably. The details, including eligibility requirements are yet to be announced.
A dental care program for children under the age of 12 years will be introduced this year for families with an annual income of $70,000 or less. That program is expected to be expanded to children up to the age of 18, seniors and people living with a disability 2023, with a full implementation by 2025 with certain limitations.
A big focus of this year’s budget rising cost of housing in many parts of the country.
Defense spending will increase by 6.1 billion over 5 years, $500 million in Military Aid, is being provided to Ukraine and another 1 billion in loans is being offered to Ukraine.
The provincial deficit for the just-ended 2021-22 fiscal year came in at $400 million, less than half of initial projections.
For 2022-23, the deficit is expected to be lower again, at $351 million.
Those numbers mark a sharp turnaround from the dire early pandemic days, when COVID-fuelled fiscal chaos punched a massive hole in the balance sheet.
The 2020-21 deficit was nearly $1.5 billion.
The province has reiterated that it is now on track to balance the books by 2026.