Freeland to present 2024 federal budget, promising billions in new spending

Canadians will learn Tuesday the entirety of the federal Liberal government's new spending plans – and how they intend to pay for them – when Deputy Prime Minister and Finance Minister Chrystia Freeland tables the 2024 federal budget.

Vowing to not grow the deficit while maintaining other fiscal guardrails, heading into budget day there are strong indications that in order to help finance what's been a weeks-long blitz resulting in nearly $40 billion in promised measures, the Liberals will unveil new or higher taxes for wealthier Canadians or corporate Canada.

CTV News' special coverage of the federal budget begins Monday at 4 p.m. ET on CTVNews.ca, CTV News Channel and the CTV News app.

Remarking on the expectation of some form of individual wealth tax, and or excess profit taxes in today's budget, former Bank of Canada governor David Dodge(opens in a new tab) said the fiscal document is "likely to be the worst" in decades and "pointing us in the wrong direction," when it comes to economic growth.