In a significant development from Health Canada, the Honourable Ya’ara Saks, Minister of Mental Health and Addictions and Associate Minister of Health, announced a visionary new budget plan titled “Budget 2024: Fairness for Every Generation” during her visit to the University of Manitoba. This announcement highlights the government’s commitment to fostering a fairer and more prosperous Canada for all generations.
Budget 2024 outlines ambitious initiatives aimed at addressing the housing crisis and the cost of living. A notable strategy is the launching of the Public Lands for Homes Plan and the Canada Rental Protection Fund. These efforts are poised to greatly increase the housing supply, making homes more affordable by targeting a goal of unlocking 3.87 million new homes by 2031. The budget also introduces measures to enhance the Canadian Mortgage Charter and establish a Canadian Renters’ Bill of Rights, ensuring that more Canadians can find affordable housing sooner rather than later.
Enhancing the Social Safety Net and Reducing Everyday Costs
The government continues to build on its expansive social safety net programs, including $10-a-day child care and dental care for uninsured Canadians. The first phase of universal pharmacare is set to advance further, reducing healthcare costs for millions. Additionally, the budget plans to stabilize grocery prices, eliminate junk fees, and reduce banking costs, making daily life more affordable.
Fostering Economic Growth and Innovation
With a focus on sustainable economic growth, Budget 2024 aims to boost investment, enhance productivity, and foster innovation across various sectors. Significant investments are directed towards attracting more investment in the net-zero economy, expanding economic investment tax credits, and securing Canada’s leadership in artificial intelligence. The budget also introduces enhanced research grants to support the next generation of researchers and innovators, which Minister Ya’ara Saks emphasized during her announcement.
A Fair and Responsible Tax System
Aligning with the theme of fairness, the budget proposes adjustments to the tax system, asking the wealthiest to contribute more to national prosperity. This approach not only aims to invest in future generations but also ensures fiscal responsibility, maintaining low deficit and debt ratios compared to other G7 countries.
Deputy Prime Minister Chrystia Freeland’s Vision
Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, reiterated the government’s commitment to expanding the middle class and reducing poverty. “Our goal is to unlock opportunities for millions of younger Canadians, build more housing, and drive economic growth that benefits everyone,” said Freeland. “This is what fairness looks like for every generation.”
As Budget 2024 unfolds, its impact on research funding, economic growth, and social equity will be closely watched. This budget is not just a financial plan; it’s a blueprint for a fairer, more innovative Canada.
Contact Information
For more details, contact Yuval Daniel, Press Secretary to the Honourable Ya’ara Saks, at 819-360-6927 or the Media Relations team at Health Canada at 613-957-2983, email: media@hc-sc.gc.ca.