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Following the budget, Parliament (the Canadian Parliament) will pass an Appropriation Act (called the 'Interim Supply') which will allow individual departments to spend 3/12th of their annual budget. (The Government of Canada Fiscal Year runs from April 1 to March 31.)
The Canadian federal budget for the fiscal years of 2024–25 was presented to the House of Commons by Finance Minister Chrystia Freeland on 16 April 2024. [1]
The 2023 budget is the seventh budget document introduced in the House of Commons under the premiership of Justin Trudeau. It comes at the heel of the first anniversary of the Russian invasion of Ukraine, following which Canada sent one billion dollars in military aid to Ukraine. [5]
Canada's budget deficit for the first six months of the 2024-25 fiscal year jumped by more than a half to C$13.01 billion ($9.28 billion) as program expenses and debt payment costs rose faster ...
Primary care funding in Canada represented 5.3% of the total health budget, significantly lower than the 8.1% average between "Denmark, Finland, France, Germany, Italy, the Netherlands, New Zealand, Norway, and the United Kingdom". The study noted that the federal government's healthcare funding contribution had declined from its 1970s ...
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.