Deciphering the budget |
The federal government released its 2025 budget last week and, as usual, the headlines were full of promises—investment in the economy, help for families, and measures to make life more affordable.
But after years of similar talk, many Canadians are wondering, will this time be any different? A famous quote (often mistakenly attributed to Albert Einstein) says “the definition of insanity is doing (or saying) the same thing over and over again and expecting different results.”
So will we see any real change? For most households, the new budget may bring a few short-term benefits but it also adds to a growing long-term problem—a $78 billion deficit that future taxpayers will have to pay for.
Let me dive into the key measures and promises that may affect you:
Cost-of-living relief
One of the biggest takeaways from the budget is the ongoing challenge of affordability –a problem that has been snowballing exponentially over the last few years.
The budget includes a small tax cut aimed at roughly 22 million middle-class Canadians. For a two-income family, that could mean about $800 in annual savings. On top of that, the government announced a permanent National School Food Program that’s expected to serve up to 400,000 children across the country, saving some families a few hundred dollars a year.
While those measures will help a little, they’re not game-changers. Gas and grocery prices are still high........