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Debate on the federal budget began Tuesday morning in the House of Commons, with the opposition parties discussing the document and proposing amendments.
Conservative Leader Erin O’Toole indicated earlier that his party would propose changes to the government’s plan for economic recovery, and said that the budget was an “out-of-control debt plan without any real stimulus.” Bloc Quebecois Leader Yves-Francois Blanchet is instead focusing on health care, and the fact that the budget doesn’t include increased healthcare transfers to provinces.
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After financial markets close at 4 p.m., Finance Minister Chrystia Freeland will table the federal government’s first budget in more than two years. There will be lots to watch for, including the first formal accounting of how much Ottawa has spent to manage the COVID-19 pandemic. Ms. Freeland’s November economic update made it clear the amount will be substantial. At that time, she projected a $381.6-billion deficit for 2020-21 and said it could end up closer to $400-billion depending on the need for restrictions over the winter months. For context, the 2018-19 budget deficit was just under $14-billion.
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Prime Minister Justin Trudeau announced on Friday that Canada has signed an agreement for eight million additional Pfizer doses, which comes on the heels of news that Moderna is cutting vaccine shipments to Canada in half this month.
“We have been extremely well-served by Pfizer,” Mr. Trudeau said in a news conference that addressed the growing health crisis, specifying that Canada will receive an additional four million Pfizer doses in May, with two million more each in June and July.
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Conservative Leader Erin O’Toole unveiled his party’s long-awaited plan for the environment on Thursday morning.
The plan includes a “price on carbon for consumers,” which is a shift for the party. The Conservatives’ plan would set the carbon price at $20 a tonne, eventually increasing that up to $50.
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The Liberals’ current plan sets a higher price on carbon at $40 a tonne, which will increase to $50 in 2022. The carbon price is then set to increase by $15 each year until 2030.