The 2022 Canadian federal budget for the fiscal years of 2022–23, known as Budget 2022, was presented to the House of Commons by Finance Minister Chrystia Freeland on 7 April 2022.
Background The COVID-19 pandemic had forced the Justin Trudeau government to introduce a large number of federal aid programs to deal with the economic impact of the crisis. As a result, Canada's debt-to-GDP ratio increased in 2020 and 2021.
In March 2022, the New Democratic Party agreed to a confidence and supply deal with Justin Trudeau's Liberal Party.
Measures The budget's main goal is to reduce Canada's debt-to-GDP ratio, mostly through a review of all government spending.
However, the budget increases Canada's military expenditures. It also includes a limited dental care program, as promised in the Liberal-NDP deal.Budget 2022 at Department of Finance
Reactions According to left-leaning political scientist David Moscrop, the budget is a fiscally conservative document that includes too few new social programs for Canadians.
Aftermath Legislative history + House of Commons vote on the Budget Implementation Act, 2022, No. 1Summary of votes, 9 June 2022.Party Yea Nay AbstentionAbsentLiberals 149 0 6 3 Conservatives 0 112 6 1Bloc Québécois 29 0 0 3New Democratic 24 0 0 1Green 0 2 0 0Independents 0 1 0 0Total 202 115 12 8
Execution + Budgetary items in billions of dollarsElement 2021–20222022-2023 Actual Budget Actual Tax revenues 350.67 342.10 379.23 Other revenues 62.61 66.30 68.59Program expenditures (468.92) (425.40) (438.56) Public debt charge (24.49) (26.90) (34.96) Actuarial losses (10.19) (8.90) (9.63) Deficit (90.32) (52.80) (35.32)
References
Budget documents
External links Budget 2022 at Department of Finance