Deputy Prime Minister and Minister of Finance Chrystia Freeland today released the federal government’s 2021 Budget in the House of Commons. Titled A Recovery Plan for Jobs, Growth, and Resilience, the plan aims to support Canadian families and businesses during the third wave of the COVID-19 pandemic, lay out a strategy for a post-pandemic economic recovery, and act as a blueprint for a Liberal campaign platform ahead of a potential 2021 federal election.
The government signaled in the 2020 Fall Economic Statement that it would spend significantly to achieve these goals. Budget 2021 aligns with that plan, announcing up to $100 billion over three years in new spending to support Canada’s economic recovery. All this new spending will lead to a projected 2020-21 deficit of $354 billion.
