On March 28th, Deputy Prime Minister and Minister of Finance, Chrystia Freeland, released Budget 2023 - A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future.

This year’s budget builds on the important progress made post-COVID pandemic recession. Canada’s economic growth was the strongest in the G7 over the last year - with 830,000 more Canadians employed than before the pandemic. Inflation has fallen for eight months in a row, the unemployment rate is near its record low, and the labour force participation rate for women ages 25 to 54 reached a record high of 85.7 per cent in February. 

The Canadian government has taken action to “crack down on hidden junk fees”, lower credit card transaction fees for small businesses, and has worked towards helping Canadians keep more money in their pockets. 

The 2023 Budget will deliver $198.3 billion to reduce backlogs in the public health care system, expand access to family health services, and ensure provinces and territories can provide the high quality and timely health care Canadians expect. It also introduces a new Canadian Dental Care Plan to benefit up to nine million Canadians. 

The 2023 Budget will also be making investments to build Canada’s clean economy, fight climate change, and create new opportunities for Canadian businesses and workers. With significant measures that will bring cleaner and more affordable energy, it will support investment in the communities with the creation of good-paying jobs, and ensure Canadian workers are able to produce and provide the resources that Canadians and our allies need. 

Budget 2023 will see Canada maintain the lowest deficit and lowest net debt-to-GDP ratio in the G7, and help to build a more secure, sustainable, and affordable Canada “from coast to coast to coast”.