Budget 2024 Increases Taxes on the Rich to Pay for Higher Spending

Budget 2024 Increases Taxes on the Rich to Pay for Higher Spending
Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives to a cabinet meeting on Parliament Hill in Ottawa on April 16, 2024. The Canadian Press/Sean Kilpatrick
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The Liberal government is increasing taxes on the rich and going further into debt to finance higher expenses, according to the annual budget presented on April 16.

Deputy Prime Minister and Minister of Finance Chrystia Freeland, who proposed $52.9 billion in new spending as part of the plan, predicted a deficit for the next five years as expenses rise.

Nicolas Johnson
Nicolas Johnson
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Nicolas Johnson is a Canada-based journalist.