By: Hon. Lena Metlege Diab, Member of Parliament for Halifax West
Spring’s arrival brings with it a welcome change of weather, and a refreshed fiscal plan for Canada. This year, based on Canadians’ feedback, your federal government introduced a prudent budget that focuses on health care, greening the economy, and providing relief from inflation. Here are some of Budget 2023’s highlights for Halifax West:
STRONGER HEALTH CARE
Budget 2023 delivers almost $200 billion to strengthen our public health care system over the next decade. It also includes renewed funding for sexual and reproductive health care and the launch of a national 988 suicide prevention helpline. Building on the success of the interim Canada Dental Bene t, the Canadian Dental Care Plan will also be launched to provide dental coverage to all uninsured Canadians making under $90,000/year by 2025.
INFLATION RELIEF
A one-time Grocery Rebate is being issued to help with the rising cost of food. Delivered through the GST Credit mechanism, this new payment will offer targeted support for those that need it most. Eligible couples with two children will receive up to $467; a single Canadian will get up to $234; and the average senior can expect $225, on top of their regular, inflation-indexed benefits. Budget 2023 also caps the excise tax on alcohol and cracks down on junk fees— like telecom roaming charges—that get added to many products and services.
A GREEN & COMPETITIVE CANADA
As the world turns to electric vehicles and the United States makes big investments in clean energy, Canada can’t—and won’t—get left behind. To build a greener economy, we’ve introduced major new tax credits for investments in clean electricity, clean-tech manufacturing, and clean hydrogen—all while ensuring that the companies that access these supports pay their workers fairly. We will also help deliver clean electricity to Nova Scotia by advancing the Atlantic Loop project.
SUPPORT FOR YOUNG PEOPLE
Inflation and inadequate housing supply are posing challenges for young people. That’s why we’re increasing Canada Student Grants by 40% and increasing the interest-free Canada Student Loan limit. We’ve also launched the Tax-Free First Home Savings Account that allows prospective first-time buyers to save up to $40,000 completely tax-free. e $4 billion Housing Accelerator Fund has also been launched to directly support municipalities like HRM in unlocking 100,000 new housing units and encouraging density and complete, connected communities.
Of course, that’s just a snapshot of what’s in the federal budget. Watch my Facebook and Instagram—and your mailbox—for more updates!
