OTTAWA – The federal government gave Canadians a look at the books Tuesday, revealing how much taxpayer money was spent in the past year compared to how much money the government raised and how much will go out the door.

While most of it is linked to the COVID-19 pandemic, the liberal government also made some new spending commitments in what is known as the fall economic and fiscal update. Here are three:

Natural Disaster Recovery in BC

Earlier this year, British Columbia suffered severe storms. Floods and mudslides, dirt and rocks disrupted people’s lives and also closed major trade and transportation routes. In Tuesday’s update, the federal government put $ 5 billion on the books for this year for its share of the cost to help rebuild the province.

The cost of promises to Afghans

This summer, Afghanistan fell back into the hands of the Taliban, putting the lives of thousands of Afghans who once worked with Western armies and governments at risk and putting the future of Afghan women, rights activists and others who fear a crackdown on the Taliban. The liberal government promised to accept at least 40,000 Afghans as refugees in Canada. How much do you think it will cost? Over the next six years, they have booked $ 1.3 billion in total and $ 66.6 million after that.

Carbon tax breaks

The federal government puts a price on carbon pollution in jurisdictions that don’t have their own system and returns the profits directly to the people in those areas. In the latest budget, the Liberals promised to start making specific rebates for agribusinesses as well. In Tuesday’s update, they said they will now take that further. Starting in 2022-2023, the government says it will spend an estimated $ 200 million to send refunds directly to small and medium-sized businesses in Alberta, Saskatchewan, Manitoba and Ontario.



Reference-www.thestar.com

Leave a Reply

Your email address will not be published.