Finance Minister Chrystia Freeland, under political and economic pressure to make Ottawa’s spending address tumultuous times, announced Friday she’ll lay out the government’s 2023 budget on March 28.
Setting a date for the federal budget always marks a milestone in a government’s calendar and this one comes at a tricky time for Prime Minister Justin Trudeau’s minority Liberal government, which is under sustained attacks from rival parties to do more to ease inflationary pressures.
The challenges being thrown up by the U.S. and the global economic climate need to be top of mind, suggested Robert Asselin, senior vice-president of policy at the Business Council of Canada. How the economic landscape might continue to shift in the coming months was addressed earlier this week by the Bank of Canada, which held off raising interest rates for the first time in a year.
“Price increases for food and shelter remain high, causing continued hardship for Canadians,” the bank noted. The finance minister has also been clear with her cabinet colleagues that new pitches from their departments will need to be partially paid for with current funding.
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