CANADIAN 2022 BUDGET

Sees 2022/23 deficit of CAD 52.8bln vs CAD 58.4bln in Dec; sees 2021/22 deficit of CAD 113.8bln vs CAD 144.5bln
Sees 2022/23 federal debt-to-GDP ratio of 45.1% vs 47.3% in Dec, 2021/2022 debt-to-GDP ratio of 46.5% vs 48.0% in Dec
Sees up to CAD 3.8bln over 8yrs for a critical minerals strategy, including a 30% tax credit for exploration expenses.
Introduces carbon capture tax credit of 60% for direct air capture equipment, 50% for all other equipment, starting in 2022.
Tax credit for carbon capture storage, transportation equipment to be 37.5%.
To extend buyer incentive for zero-emissions vehicles to March 2025, broaden to support purchase of more models.
Set aside CAD 15bln over 5yr create growth fund to spur private investment.
Pledges CAD 29bl in net new spending over 5 years to address affordability challenges and boost medium-term growth
Includes CAD 9.5blnin net new spending on housing over 5 years; plan to legally ban foreign buyers from housing for two years
Proposes to increase corporate tax rate on big bank and insurer taxable income over CAD 100 million to 16.5% from 15%
Sees 2022 real GDP growth of 3.9%, 3.1% in 2023, 2.0% in 2024, 1.9% in 2025, 1.8% in 2026
Canada to boost military spending over next five years and review defense goals.
Canada introduces carbon capture tax credit of 60% for direct air capture equipment, 50% for all other equipment, starting in 2022.
Canada tax credit for carbon capture storage, transportation equipment to be 37.5%.
Canada to extend buyer incentive for zero-emissions vehicles to march 2025, broaden to support purchase of more models.
Canada's budget to set aside CAD 15bln over 5 years create growth fund to spur private investment.