Here are 4 things on Bay Street’s budget radar, from deficit discipline to housing, housing, housing:
- Deficit Discipline: The federal government is expected to balance the budget by 2025-26, but economists are questioning whether this target can be met given the current fiscal trajectory.
- Housing, Housing, Housing: The budget is likely to include measures to address Canada’s housing affordability crisis, including investments in affordable housing initiatives and infrastructure projects.
- Open Banking: The government will provide details on its plan to implement open banking by 2025, which will allow Canadians to easily shift their financial data between banks and fintechs, promoting competition and innovation.
- Financial Crime Fighting: The budget may include measures to combat money laundering, including updates to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and potentially giving more powers to enforcement agency FINTRAC.
These are just some of the key issues on Bay Street’s radar for this year’s budget.
