Search results
Results From The WOW.Com Content Network
The Canadian federal budget for the fiscal years of 2020–21 and 2021–22 was presented to the House of Commons by finance minister Chrystia Freeland on 19 April 2021. [5] The Canadian government did not produce a budget in 2020 due to the COVID-19 pandemic .
The COVID-19 pandemic had forced the Justin Trudeau government to introduce a large number of federal aid programs to deal with the economic impact of the crisis.As a result, Canada's debt-to-GDP ratio increased in 2020 and 2021.
The Consolidated Appropriations Act, 2021 is a $2.3 trillion [1] spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States with a $1.4 trillion omnibus spending bill for the 2021 federal fiscal year (combining 12 separate annual appropriations bills) and prevents a government shutdown.
A budget resolution for the 2021 fiscal year began to be considered by the 117th United States Congress in February 2021. As appropriations for the fiscal year had already been approved, the budget resolution's main purpose was to begin the budget reconciliation process to allow a COVID-19 pandemic relief bill to be passed without the possibility of being blocked by a filibuster.
Existing federal social security programs were modified to provide additional financial support to their recipients. Canada Child Benefit payments were given a one-time increase of $300 per child, [3] the Goods and Services Tax (GST) credit for the 2019 tax year was doubled, [4] and personal income tax deadlines for 2019 were extended.
The 2021 Canadian federal election was held on September 20, 2021, to elect members of the House of Commons to the 44th Canadian Parliament. The writs of election were issued by Governor General Mary Simon on August 15, 2021, when Prime Minister Justin Trudeau requested the dissolution of parliament for a snap election .
As of March 2022, Canada began initial negotiations with Lockheed Martin for 88 F-35As. [60] [61] In December 2022 the Government of Canada placed an initial order for 16 F-35As. [62] On January 9 2023, the deal for the 88 jets was finalized. [63] Tactical Reconnaissance Utility Helicopter: TBD: TBD: 2021–2036: TBD
The budget introduced $22.8 billion of new spending over six years. [4] The budget will not make any changes to the income tax brackets for individuals or corporations. [4] This was later refined to $39.4 billion when the Annual Financial Report of the Government of Canada for Fiscal Year 2019–2020 was released. [2]