Finance Minister Chrystia Freeland has presented Canada’s 2024 federal Budget. This annual budget outlines the upcoming fiscal year’s spending, affecting all Canadians, including newcomers. Key points include a $53 billion new expenditure focusing on improving housing affordability, defence spending, and productivity enhancement in the labour force. While immigration was not a primary focus, measures may assist newcomers in finding affordable housing and employment. The government also pledged $50 million to the Foreign Credential Recognition Program, aiding skilled trades workers and the healthcare sector. The Budget highlights newcomers’ increasing income over time, surpassing the median Canadian income by 10% over a decade.
