Federal Government's 2017 Budget Involves Minimal New Spending

The Federal Government's new budget will see $1.3 billion in new spending over the next year. 

The 2017 budget tabled Wednesday by Finance Minister Bill Morneau totals $304.7 billion.

Over the next ten years $11.2 billion will be spent on affordable housing projects as part of the government's infrastructure program. 

The budget also phases out the Canadian Savings Bond Program which is no longer considered cost effective. 

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Families will see new benefits when it comes to child care, as the government has pledged to spend  $7 billion over a 10 year period on child care services. These services will include 40,000 new subsidized daycare spaces across Canada by 2019 and expectant mothers will now be able to claim maternity benefits 12 weeks before their due date.

The budget also introduces a national database for all housing properties in Canada.The database will be called the Housing Statistics Framework and will track details on sales, purchases, demographics of home owners, financing, as well as foreign ownership.

For more on the 2017 Federal Budget click here