$62.9 Billion From Liberal Spending Has Never Been Done Before

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According to the reports, the expenditure budget of the Liberal Government reaches to around $62.9 billion in the first quarter of the fiscal year. This is definitely one of the highest records and the growth is around $3.4 billion more when compared to the first quarter of the last fiscal year. Thus it is very clear that government has taken initiatives and is spending money to ensure growth in the different sectors.

Most of the money is being used for the infrastructure so as to offer better growth opportunities which result in overall advancements of the country. Out of the total amount, $21.1 billion was sanctioned for “direct program spending” which includes contributing towards the grants, spending on operating costs etc. This was done because it is the area which lags behind and so such a policy was framed by the government.

Around 45.7 billion was spent on public debt charges which remained low owing to the fact that the rate of interest was also kept low. $16.8 was given for Canada Health Transfer and Social Transfer. $19.4 was given to old age security benefits, employment insurance payments and universal child care benefit.

The overall spending has been done wisely keeping in mind the requirements of the various sectors. But still, the opposition is not happy with the way Justin Trudeau has planned the investments. The budget office which is meant to advise the government also has a similar view that the spending has increased by 3.6% as compared to the last year although the employment cost has gone down.

Prime Minster Justin has promised to ensure overall growth and development of the country and this is the reason that such huge amount is being spent so as to get long term benefits. So the people will have to wait to see how the entire year progresses.