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

The Canadian Press
Budget 2024: Key numbers from the Liberals' latest spending plan

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.

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