Healthcare
Better healthcare:
Major new funding to modernize health systems: address urgent pressures in emergency rooms, support hourly wage increases for PSWs, expand access to family health services, increase mental health and substance use support, and more.
Dental care:
$13 billion plan over 5 years, to expand dental care to families earning less than $90,000 a year.
Combatting the opioid crisis:
$359.2 million over 5 years for a renewed Canadian Drugs and Substances Strategy, including community-based mental health, harm reduction services, and measures to tackle trafficking.
“Budget 2023 is a sign that there is political will to fund our healthcare system so people can get timely, affordable access to cancer care.”
Canadian Cancer Society
“ We’re pleased to see the federal government confirm significant health funding commitments (via CHT and bilateral agreements) as part of #Budget2023.”
Canadian Medical Association
Targeted Inflation Relief
New Grocery Rebate:
up to $234 for a single person, delivered to 11 million low and modest-income people through the GST credit.
Affordable higher education:
Increase student grants by 40%, raise the interest-free loan limit, and increase limits on RESP withdrawal. The elimination of interest on student loans took effect on April 1, 2023.
Acting for consumers and small businesses:
Reduce junk fees, crack down on predatory lenders, lower credit card transaction fees, protect air passengers, and enshrine a right to repair.
A code of conduct to protect Canadians withexisting mortgages:
Fair access to relief measures if needed, including extended amortizations or adjusted payment schedules.
Automatic tax filing:
The CRA will pilot a new automatic filing service to help vulnerable Canadians receive benefits to which they are entitled.
Reconciliation in Action
Budget 2023 commits $4 billion over 7 years to implement a co-developed urban, rural, and northern Indigenous Housing Strategy.
Fiscal sustainability
“ The 2023 budget has a credible fiscal strategy…net new spending in 2023 largely goes to people struggling with inflation (those on low incomes and students) and our health care system. This is not spending that will impede efforts to lower inflation. Fiscal credibility has to be earned budget to budget. The 2023 budget gets a thumbs-up.”
Kevin Page, former Parliamentary Budget Officer
“ Including new measures in Budget 2023, Canada’s net debt as a share of the economy is still lower today than in any other G7 country prior to the pandemic. Canada is also forecasted to post one of the largest improvements in its fiscal balance among G7 countries since the beginning of the COVID-19 pandemic, resulting in Canada having the smallest deficit in the G7, both this year and next.”
– Budget 2023
For more details on Budget 2023, click here.