Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, tabled Budget 2024: Fairness for Every Generation.
This is our plan to make Canada fair for every generation. One where younger Canadians can get ahead, where young families can find an affordable place to call home; where seniors can age with dignity – where everyone can succeed.
First, we’re building more homes. Because the best way to make housing prices more affordable is to build more homes, faster. We’re cutting red tape, fast tracking development, converting public lands into housing, and using innovative technologies to build smarter. Put simply, we’re changing the way we build housing in Canada.
For renters, especially Millennials and Gen Z, we’re putting home ownership back in reach. We’re helping you save up for your first down payment, tax free. We’re giving renters credit for rental payments, so when it comes time to apply for that first mortgage, you’ll have a better chance of qualifying. We’re protecting affordable units and creating thousands more across Canada.
Second, we’re making life cost less. We’re strengthening Canada’s social safety net for every generation. $10-a-day child care is already saving parents thousands of dollars a year—and giving young Canadians the security to start their own family. And new programs like dental care, the National School Food Program, and pharma care, including for Insulin and contraceptives, will help Canadians find more savings.
Third, we are growing the economy with innovation and fairness. We have a plan that will increase investment, enhance productivity, and encourage game-changing innovation – creating good jobs and keeping Canada at the economic forefront. This includes expanding and delivering the major economic investment tax credits to grow the clean economy, securing Canada’s advantage as a leader in artificial intelligence and investing in enhanced research grants. All of this will create good jobs and opportunities, and grow our economy.
We are also making Canada’s tax system more fair by asking the wealthiest to pay their fair share— so we can invest more back into growing our country, and ensure our younger generations are not left responsible for future debts.