On April 7, 2022 (Budget Day), the Honourable Chrystia Freeland,
Deputy Prime Minister of Canada and Minister of Finance, delivered
the Liberal Party's federal budget (Budget 2022), the second
budget since the start of the COVID-19 pandemic.
As part of the Trudeau government's plan to “grow
our economy and make life more affordable,” Budget 2022
contains over $15 billion in spending, including on housing and
health initiatives. Budget 2022 also contains several measures
aimed at making the tax system “more fair,” closing
what the government perceives as loopholes and increasing its
ability to attack what it considers improper tax planning. Notably,
there are no proposed changes to general corporate or personal
tax rates or to the capital gains inclusion
rate.
