Budget 2021: A Recovery Plan

As Canada navigates the narrow path between lockdowns and vaccines, this year’s federal budget delivered sweeping stimulus to help the economy along its path of recovery. This article covers topics such as pandemic-specific spending initiatives, new initiatives, revenue generation, economic implications, and fiscal considerations.

As Canada navigates the narrow path between lockdowns and vaccines, this year’s federal budget delivered sweeping stimulus to help the economy along its path of recovery. Heavily focused on support and spending programs, the roadmap presented by the federal government is expansive and
designed to provide additional momentum to the strong economic rebound expected through the latter half of the year.

Budget 2021, Canada’s first in two years, focused on ensuring a robust recovery for Canada’s economy as it battles against the pandemic. With major new spending initiatives worth $101.4 billion over the next three years, the near-term focus is around creating jobs and supporting a recovery that provides for the individuals and businesses hardest hit by the lockdowns. Longer-term, the budget introduces plans to establish a national early learning and child care system to support continued growth, as well as investments in green energy and innovation.

 

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