The Federal government hands out the goodies in 2016 budget but forgets energy sector
The Liberals maintained several of their election promises and unveiled a C$29.4B budget this week.
Big ticket items include:
- public transit
- water treatment
- renewable energy
- social housing
- increases in child benefit credits, indigenous groups and seniors
- arts and culture (including $675 million for the CBC)
- electric car subsidies
- veteran affairs and
- the coast guard.
The government is establishing a new $2 billion fund for transition to a Low Carbon Economy.
Hard hit regions such as Alberta will now get an additional 5 weeks of EI coverage, potentially increasing to a maximum of 70 weeks. Alberta gets $400 million for infrastructure. The government is assuming $40 oil and makes no mention of support for the energy sector.
The Liberals plan to run a total deficit of $115B over the next 4 years, bringing Canada's federal debt to GDP to 32% from 30%, excluding provincial debt.