Budget 2023 increases the projected federal deficit over the next five years by $100 billion, compared with the Fall Economic Statement, due to a weaker economy and new spending.
The biggest spending items are for the previously announced health care funding, an expansion of the dental care program, and investments and tax credits to support a clean economy.
Most other measures are targeted at affordability, inclusion and reconciliation. There are very few initiatives in this budget to grow the economy, with some funding for tourism, co-op placements, and to help people get jobs.
APEC’s budget analysis examines the major initiatives and their implications for Atlantic Canada.
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