Canada’s 2024 budget sees billions in new spending

Budget 2024… titled “Fairness for Every Generation.” It has people talking online because the federal Liberals are spending more than $52 billion more than planned over the next five years.

With interest rates at a 20-year high, Ottawa’s cost to borrow has spiked from just over $20 billion in 2020 to a whopping $54.1 billion this year.

That means Ottawa will spend more to service its debt than it will on health care.

One highlight today? A big-ticket housing program for younger voters.

We spoke to Franco Terrazzano, the federal director of the Canadian Taxpayers Federation who was in the federal budget lockup in Ottawa today.