The federal Liberal government is about to introduce its fourth and final budget before the general election later this year.
The government has proposed deficit budgets in each of the previous years adding greatly to the federal debt. It is expected this will also be a deficit budget although to a lesser extent than previous budgets, and with other measures offered to help certain groups and sectors.
Canadians not optimistic
However, most Canadians are not optimistic about the future economy. A new poll by the non-profit polling firm Angus Reid shows 40 per cent of Canadians think the economy will worsen in the near future.
The poll shows an almost equal amount (39%) feel the economy will stay about the same over the next 12 months, while a much lesser number of Canadians (24%) think it will improve.
Angus Reid Institute
Even more Canadians (55%) express hesitancy saying it’s not a good time to make major purchases such as a house or undertaking major renovations. or buying a car, or even taking a major vacation, with almost a quarter (22%) saying it’s a very bad time for such expenses.
Almost half (48%) also fear that someone in their household could lose their job because of an uncertain economy.
A majority of Canadians feel its a bad, or very bad time to engage in major expenses like a house purchase, renovations, car purchase, even vacations (Richard Buchan- CP)
Although the economy was indicated as in seventh place on the top ten list of Canadians concerns, just over a third (34%) say their standard of living is worse now than it was a year ago and since the beginning of 2016. That figure is almost double the number of Canadians who say their standard of living has improved (17%) while some 46 per cent say their situation hasn’t really changed.
Federal Liberal finance minister Bill Morneau will table his budget starting at 2pm today.
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