The article discusses the key highlights from Canada’s 2024 federal budget, which was presented by Finance Minister Chrystia Freeland. The budget includes several initiatives aimed at addressing various social and economic issues in Canada.

Key Highlights:

1. Taxation: The budget introduces a new tax on wealthy Canadians, with the top marginal tax rate increasing to 33% for individuals earning over $300,000.
2. Housing: The government is investing $4 billion over five years to address housing affordability and homelessness.
3. Pharmacare: The first programs under the new pharmacare plan are expected to cost $1.5 billion over five years, covering contraceptives and diabetes medication and supplies.
4. Mental Health: The budget includes a $500-million fund to help community health organizations provide more mental-health care to young people.
5. Indigenous Peoples: The government is investing up to $5 billion in loan guarantees for resource projects undertaken by Indigenous communities, as well as spending close to $1.2 billion on primary and secondary education and infrastructure in First Nations reserves.
6. Military Spending: The budget earmarks $8.1 billion over the next five years and $73 billion by 2044 to boost military spending to 1.76% of GDP by 2030.
7. Artificial Intelligence: Ottawa is setting aside $2.4 billion in the upcoming budget to build capacity in artificial intelligence, with a focus on improving access to computing capabilities and technical infrastructure.
8. School Food Program: The government is investing $1 billion over five years on a national school food program that aims to provide meals for 400,000 additional children.

Other Initiatives:

• Loans for child-care centres
• Emergency Treatment Fund to help municipalities and Indigenous communities deal with the opioid crisis
• Canada Disability Benefit and related costs
• Foreign credential recognition program
• Integration of internationally educated health-care professionals

Overall, the budget presents a range of initiatives aimed at addressing various social and economic issues in Canada, including taxation, housing affordability, pharmacare, mental health, Indigenous peoples, military spending, artificial intelligence, and education.