Businesses concerned about potential tax hikes due to Trudeau’s housing initiative.

Prime Minister Justin Trudeau’s government is gearing up to introduce a comprehensive budget with a focus on addressing housing affordability and supporting young Canadians. However, there is speculation about the possibility of tax increases to fund these initiatives.

The government has already disclosed plans to allocate at least C$46 billion through the Bloomberg Terminal, with C$17 billion designated for loans. This funding will support various measures such as increasing housing supply, fostering the development of artificial intelligence, and boosting defense spending. Despite these commitments, there is concern about the growing cost of debt.

Finance Minister Chrystia Freeland has indicated that efforts will be made to control deficits in the upcoming budget, scheduled for release on Tuesday. This signals a commitment to fiscal responsibility while also meeting the crucial needs of Canadians, particularly in the areas of housing and youth support.

By Samantha Robertson

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