Skip to content

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.
2024041616040-7372bd64412bc65ed95b8ad5c808354b41a06fd43d6f8103d2315bf50866ffbb
Prime Minister Justin Trudeau, Deputy Prime Minister, Minister of Finance Chrystia Freeland and cabinet ministers pose for a photo before the tabling of the federal budget on Parliament Hill in Ottawa, on Tuesday, April 16, 2024. THE CANADIAN PRESS/Justin Tang

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.

50: The number of times the word "fairness" appears in the budget document.

This report by The Canadian Press was first published April 16, 2024.

The Canadian Press

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks