Apr 17, 2024

By Jane Brown

Share on

While NDP leader Jagmeet Singh is cagey on his support for the Trudeau Liberals’ latest budget, it is highly likely his MPs will support it allowing the minority government financial document to pass and the Liberals to stay in power.

But Singh is also indicating publicly he’s not entirely pleased.

“The Liberals failed to mention why things are so expensive and that’s corporate greed,” Singh told reporters after Finance Minister Chrystia Freeland delivered the budget in the House of Commons.

The budget is called Fairness for Every Generation with an emphasis on helping millennials and GenZs, specifically around the cost of rent and home ownership by creating a supply of nearly 3.9 million new homes by 2031. The budget also builds on previously announced moves like 30 year amortization periods for first time buyers.

And while the focus in this budget is on younger generations, Bill VanGorder, CARP’s chief advocacy and education officer, says there are some positives for older Canadians, although not right away.

“We’ve been talking for some time at CARP about having more co-housing solutions, affordable housing for older Canadians, and part of the budget is talking about making it easier for not for profit co-op homes to be affordable,” VanGorder tells Zoomer Radio/Classical FM News, “The other positive is the increase in the disability benefits, however they’re not going to start for another year.”

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

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

“Everything on which the prime minister spends gets worse and more costly,” declared Opposition Conservative Leader Pierre Poilievre, “He has spent and Canadians are broke.”

Toronto’s mayor also reacted to what’s in the federal budget for this city.

“I’m very encouraged to see the federal budget emphasizing the building of housing,” said Olivia Chow.

But the mayor says she is also concerned about what’s not in the budget, like matching funds which are contingent upon the province’s $750-million commitment for new subway trains nor was there any mention of cash to help Toronto’s projected $380-million bill to host six FIFA World Cup games in 2026.

Other federal funds for Toronto include, $23 million for the Toronto International Film festival over the next three years. There will be an additional $11 million to go towards the Department of Canadian Heritage to support the Sikh Arts & Culture Foundation, with the ROM creating museum space inside to be dedicated to the foundation’s arts, culture and heritage.

There will be $10 million in funds for repairs to the Toronto Harbourfront Centre over two years, with work beginning in 2024-25.

Advertise With Us

To learn about advertising opportunities with Zoomer Radio use the link below:

Join Our Fan Club
Coverage Area
Downtown Toronto
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
ZoomerRadio Logo

Recently Played: