This week on the Construction Record podcast, digital media editor Warren Frey and national managing editor Vince Versace take a look at the broad strokes of the 2022 federal budget released on April 7 by Deputy prime minister and finance minister Chrystia Freeland.
Versace termed it a “building blocks” budget where money was committed to projects but more with an eye towards growth and less as a showcase for specific projects. The government committed $8 billion in new spending towards defence, $4 billion over five years towards affordable housing as well as pledging to crack down on speculators and instituting a temporary ban on foreign buyers of Canadian residential property.
The government is also continuing its commitments towards climate change with $2.6 billion over five years to finance a new investment tax credit for businesses that spend money on carbon capture, utilization and storage and a plan to extend incentives and expand eligibility for programs to get Canadians to buy electric vehicles at a cost of $1.7 billion over five years.
In the coming days we’ll be publishing in-depth articles from our editorial staff about the budget and make sure to tune into TCR Express next Wednesday when we’ll speak to our reporters about their budget stories.
You can listen to The Construction Record and TCR Express on the Daily Commercial News and Journal of Commerce websites as well as on Apple Podcasts, Spotify and Amazon Music’s podcast, and you can listen to last week’s interview with ConstructConnect chief economist Alex Carrick about the economic effects of Russia’s invasion of Ukraine here. Thanks for listening and we’ll see you next week.