Federal budget 2016: Highlights of Bill Morneau's first budget

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Federal budget 2016: Highlights of Bill Morneau's first budget
Big deficits to fund spending on families, infrastructure and Indigenous peoples
CBC News Posted: Mar 22, 2016 4:16 PM ET Last Updated: Mar 22, 2016 4:27 PM ET

Read highlights of the Trudeau Liberals' first budget below. (Justin Tang/The Canadian Press)

Finance Minister Bill Morneau has tabled a budget that forecasts big deficits over the next five years and beyond to finance a new tax-free monthly child benefit, more money for First Nations, infrastructure spending and extended employment insurance benefits to hard-hit regions.

Here are some highlights of Bill Morneau's first budget:

• Deficit: $29.4 billion this year, $29 billion the next before falling - but no surplus forecast before the next election.
• Debt: Expected to grow by $113 billion by 2020-21, but debt-to-GDP ratio to stay mostly flat at around 32 per cent.
• Growth: Deficit based on 0.4% annual growth - much lower than economists predict.
• Canada Child Benefit: New monthly tax-free payments starts July 1 to replace UCCB and other tax measures: up to $6,400 a year per child under 6, and $5,400 those aged 6 to 18. But this amount begins to claw back for households with an income over $30,000 and is eliminated entirely for incomes over $190,000.
• Tax credits: Children's arts and fitness tax credits phased out by end of 2017. But teachers get a $150 credit for teaching materials.
• EI: Changes make it easier to qualify for benefits, and extends benefits for workers in 12 hard-hit regions. Plus: a bigger-than-expected cut in EI premiums next January.
• Infrastructure: $120 billion over 10 years, focusing first on public transit, water, waste management and housing infrastructure.
• Indigenous Peoples: $8.4 billion over five years, with $2.6 of that to improve primary and secondary education on reserves. Other funding for drinking water and housing, as well as family and child services.
• Student grants: Increased 50%, to $3,000 for low-income and $1,200 for middle-income students.
• Arts: $1.9 billion over five years for arts and culture organizations, including the Canada Council, Telefilm Canada and the National Arts Centre. $675 million to "modernize and revitalize CBC/Radio-Canada in the digital era."
• Seniors: Guaranteed Income Supplement increased by up to $947 annually.
• Veterans: Reopens nine service offices, increases amounts payable to injured veterans and indexes some benefits to inflation.

 

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Highlights of the 2016 federal budget
$290-billion spending plan rises to $323 billion five years out. And its lofty goal is to give a ‘bold transformative’ kickstart to a sluggish Canadian economy.

MARK BLINCH / REUTERS FILE PHOTO
Before the release of Tuesday's budget, the federal government had signalled that it would have to go deeper into debt in order to afford the programs it promised.
Published on Tue Mar 22 2016

The Liberal government is spending big and aiming high, with a budget targeting Canada’s middle classes and focused on economic growth.

Finance Minister Bill Morneau’s rookie budget is a 269-page volume, just over half the size of the Conservative government’s last budget.

It’s a $290-billion spending plan, rising to $323 billion five years out.

And its lofty goal is to give a “bold transformative” kickstart to a sluggish Canadian economy.

It promises money for low- and middle-class families with children, aboriginal communities, seniors, public transit riders, unemployed workers and students.

Here are the highlights:

Families with children

A total of $3.74 billion in new and tweaked tax measures aimed at the middle classes and families with children, including the introduction of the Canada Child Benefit.

Seniors

$3.4 billion dollars over five years to increase Guaranteed Income Supplement top-up benefits for low income seniors. The government will restore the eligibility age of Old Age Security to age 65.

Indigenous people

A total of $8.374 billion over five years to improve education, build new schools, strengthen the child welfare system, housing, water and waste water treatment facilities. Includes $40 million over two years toward the National Inquiry into Missing and Murdered Indigenous Women and Girls.

Culture and arts

$1.9 billion over five years to support Canadian arts and culture organizations and cultural infrastructure, including $675 million over five years for the Canadian Broadcasting Corporation and its French arm Radio-Canada, and $550 million to the Canada Council for the Arts over five years.

Veterans

$5.6 billion over six years to increase disability awards for injured veterans and to enhance other financial benefits. In addition, the Liberals will re-open veteran services offices that had been closed by the Conservatives.

Climate change and air pollution

$2.9 billion over five years, in addition to a number of infrastructure-focused spending on both mitigating the effects of climate change and adapting to its realities.

Post-secondary education

$2 billion over three years to support infrastructure projects at post-secondary institutions. An additional $95 million per year on an ongoing basis to granting councils — the highest amount of new annual funding for discovery research in more than a decade.

Cutting back on contracting out

The government is committing to annual cuts of $221 million to government advertising, contracted out professional services and travel. Most of that cut in the first year will come from the use of external consultants, which has ballooned over the last decade.

 

[abcd2013]

符合竞选承诺，希望可以刺激经济发展。

 

[GYGY]

Tax credits: Children's arts and fitness tax credits phased out by end of 2017.
Canada Child Benefit: New monthly tax-free payments starts July 1 to replace UCCB and other tax measures: up to $6,400 a year per child under 6, and $5,400 those aged 6 to 18. But this amount begins to claw back for households with an income over $30,000 and is eliminated entirely for incomes over $190,000.



before虽说credit不多，但至少表明了政府个姿态。。。。。花这些钱给孩子的many都是拿牛奶金少或者基本拿不到牛奶金的家庭。。。
经济政治环保都不懂，总体来看孩子benefits and credits，父母辛勤工作双专业收入单养育孩子这项benefits and credits损失最大特别有２，３个孩子的。。。。。。

 

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Cutting back on contracting out

The government is committing to annual cuts of $221 million to government advertising, contracted out professional services and travel. Most of that cut in the first year will come from the use of external consultants, which has ballooned over the last decade.

 

[abcd2013]

加强基础设施建设，渥太华直接受益。

 

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Climate change and air pollution

$2.9 billion over five years, in addition to a number of infrastructure-focused spending on both mitigating the effects of climate change and adapting to its realities.

听起来很可爱，这钱就是烧着玩儿。

 

[mimi_ge]

中低收入有孩子家庭成为最大受益者

 

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中低收入有孩子家庭成为最大受益者

免税真金白银地发。就凭这个，CFC骂声不会高。

Canada Child Benefit: New monthly tax-free payments starts July 1 to replace UCCB and other tax measures: up to $6,400 a year per child under 6, and $5,400 those aged 6 to 18. But this amount begins to claw back for households with an income over $30,000 and is eliminated entirely for incomes over $190,000.

Families with children

A total of $3.74 billion in new and tweaked tax measures aimed at the middle classes and families with children, including the introduction of the Canada Child Benefit.

 

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Tax credits: Children's arts and fitness tax credits phased out by end of 2017.
Canada Child Benefit: New monthly tax-free payments starts July 1 to replace UCCB and other tax measures: up to $6,400 a year per child under 6, and $5,400 those aged 6 to 18. But this amount begins to claw back for households with an income over $30,000 and is eliminated entirely for incomes over $190,000.
before虽说credit不多，但至少表明了政府个态度。。。。。current很好嘛，鼓励少花钱放养孩子，对吧？花这些钱给孩子的都是拿牛奶金少或者基本拿不到牛奶金的家庭。。。
经济政治不懂，总体来看孩子benefits and credits，父母辛勤工作双专业收入，单养育孩子这项，benefit and credits损失很多特别有２，３个孩子的。。。。。。

那个benefits and credits才几个钱啊。看看你往年的税表。

现在免税真金白银到手:

up to $6,400 a year per child under 6, and $5,400 those aged 6 to 18.

 

[fsfs]

打倒自由党！

 

[安妹妹]

那怎么知道牛奶金一个月能拿到多少呢？有算法嘛？

 

[GYGY]

那怎么知道牛奶金一个月能拿到多少呢？有算法嘛？

政府网站有，可以算出来

 

[金陵]

那么高赤字，而且要延续很多年，看来加元还得跌。

 

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年年报税有２孩子当然清楚。。。
新政策下，many middle-class income families almost 嘛也享受不到更别提什么免税真金白银，还比原来少了credits。。孩子的credits不单只是arts and fitness那项,特别有２，３个孩子收入还可以的。。。
当然有人说了：有那些收入了还在乎那点钱吗，盯着人家那点benefit太low了。。。
认识的不少人包括我自己捐给慈善机构的钱都多过那点 credits, 那点钱对生活是影响不了什么。。。。。。我个人观点，钱多钱少是一回事，政府的倾向和态度是一回事。。。
反正政府没钱，也只能拆东墙补西墙。。。只希望拆的和补的对国家的长远利益有好处就好。。。

按下面这个新政策，你会比原来得到的少?


up to $6,400 a year per child under 6, and $5,400 those aged 6 to 18.