First time home buyers won’t quite see the benefits, and infrastructure spending isn’t all it seems to be.

According to Algoma-Manitoulin-Kapuskasing MP Carol Hughes, the Liberal government’s fourth federal budget is an ‘election budget’, meant to ask the country to once again see them through another year with expectations for promises to be fulfilled down the line.

Hughes says the breakdown of spending is where that can be best seen.

She says $1.25 billion over the next three years will go towards a shared-equity mortgage program for first-time home buyers, however, the RRSP withdrawal limit has been raised from $25,000 to $35,000.

Hughes says the percentage of millennials with $35,000 in their RRSP’s is very low, making this beneficial to a much smaller crowd.

“Well when you’re talking about the housing I just wanna say that certainly there seems to be some positives there, however, when we’re looking at millennial’s, the percentage of millennial’s that have $35,000 in their RRSP’s are quite low.”

The Gas Tax revenues will see $2.2 billion budgeted for municipalities in need of infrastructure improvements, as the money will be taken from gas tax revenue and directly given to local governments for everything from roadwork through to transit and environmental projects.

However, Hughes says you need to be aware the money being spent is part of a commitment they failed to honour in last year’s budget.

“What we need to know about that money is that it’s actually a doubling of this year’s federal commitment for money that they actually didn’t get out the door last year, so really, is it extra money? This is money that they (municipalities) should have gotten in the first place and the government just didn’t see fit.” 

Hughes also says money spent on Indigenous Services is far too late as well as coming up far too short of the needs that many of the First Nations have.

Further highlights of the budget can be found below.

 

Further details on Liberal Federal Budget

 

Highlights of the 2019 Federal Budget:

  • $1.25 billion over 3 years for Shared-Equity Mortgage Program for 1st time Home Buyers

  • $3.25 billion to Indigenous Services for water quality, education and child welfare amongst other supports.

  • $2.2 billion on a one-time doubling of the Gas Tax revenues towards infrastructure spending for municipalities and cities.

  • $1.2 billion over 5 years for Border Security and Modernization