The price of gas has increased by 41.7 per cent over the last 12 months.
Despite the dismal state of federal finances, the speech did not include the terms “deficit” or “debt."
The Trudeau government plans to implement new spending programs including national childcare and pharmacare.
Many economists warn about ballooning budget deficits and the potential for higher interest rates in the future.
The prime minister’s mandate letter raised the idea of taxing "extreme wealth inequality.”
The Trudeau government forecasts a $154.7 billion budget deficit in 2021/22.
The plan calls for $27.2 billion over the next five years to reduce daycare costs.
From 2016 to 2019, Canada saw relatively low rates of growth in incomes and private-sector job creation.
Budget 2021 includes $30 billion over five years for national childcare.