The numbers are officially out and Canada is still in the red following yesterday's (February 27th) Federal Budget announcement.

The Federal Liberals announced just over 21 billion in new spending over 6 years, with money being spread to a variety of areas including Indigenous Services, Cyber Security and the Environment. 

One of the big points that came from the budget was a 5-week 'use it or lose it' parental leave for new fathers, or in the case of a same-sex couple, the non-birth parent to come into effect in 2019.

Vice President of Tax for Chartered Professional Accountants, Bruce Ball, said a move like this helps the government's plan for gender equality and having women in the workforce.

"They're trying to be more inclusive I think in terms of that sort of thing and I guess, almost split up the duties more too. It makes it just easier for the woman to get back into the workforce quicker."

On the topic of gender equality, the Liberals also promised to introduce legislation on federal pay equity and will invest millions to help women seek a career in the trades and promote their participation in sports.

The government also said it will create an advisory council to look at implementing a national pharmacare plan, with no timeline or money announced yet for the initiative.

Of all the numbers that were presented, the one that many were not happy with was that of an $18.1 billion deficit for the fiscal year. 

Federal Conservative Leader was quick to criticize the Budget saying "never has a politician boasted so loudly and spent so much to achieve so little."

Scheer pointed out that the Liberals promised in the 2015 Election to balance the budget by 2019 but now future generations will now have more debt to deal with.

Ball said that there is a big concern with running constant deficits.

"If there should be a downturn, you certainly don't want to come off a strong economy with a deficit going into a downturn. We would like to see them get their house in order on the expenditure side and, if possible, lower personal taxes and take a look at the tax system generally."

Ball said that by looking at their spending habits and their tax system, the Liberals could find a way to balance the budget eventually.

 

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