VIDEO: The 2021 federal budget’s implications for construction

Journal of Commerce | DCN-JOC News Services | April 30, 2021

On April 19 Finance Minister and Deputy Prime Minister Chrystia Freeland introduced the 2021 federal budget to the House of Commons, the first budget in two years released in the midst of the ongoing COVID-19 pandemic.

The budget deficit is at a historic high of $354.2 billion In 2021 and is projected to be $154.7 billion in 2021-2022. Spending includes a heavy emphasis on green and renewable projects, a $470 million investment in a new Apprenticeship Service, renewed trade corridors, housing and digital and physical infrastructure.

Industry stakeholders voiced approval for the federal government’s renewed commitment to the industrial, commercial, civil and institutional construction sectors but some questioned the sizable deficits, with Association of Consulting Engineering Companies Canada president and CEO John Gamble saying “this government’s taking a big chance that they’re going to see significant growth in the GDP.”