Budget 2024: Key numbers from the Liberals’ latest spending plan

By The Canadian Press

OTTAWA — Here are some key numbers from the Liberal government’s federal budget: 

$535 billion: Total government spending for the 2024-25 financial year.

$39.8 billion: The total deficit, just shy of the $40-billion projection in the fall economic statement. 

$11.5 billion: The amount of new spending this year.

$8.5 billion: What’s being spent to spur new housing. 

$3.87 million: The number of new homes the government says its housing plan will get built by 2031.

$2.6 billion: What the Liberals say will go towards “generational fairness” to ease education costs and create new job opportunities for younger Canadians.

$19.4 billion: The amount of revenue Ottawa expects to get from five years of targeted changes to capital gains taxes.

$1.5 billion: The five-year cost of universal coverage of contraceptives and diabetes medicine and supplies over the next five years.

$1.7 billion: What Ottawa thinks it will get in five years from an increase to the excise tax rates for tobacco products. 

$8.1 billion: The boost to Canada’s defence budget over the next five years.

1.76: The percentage of GDP that defence spending will account for by 2030, still shy of the two per cent NATO target. 

50: The number of times the word “fairness” appears in the budget document. 

This report by The Canadian Press was first published April 16, 2024. 

The Canadian Press

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