Originally written on April 7th, 2022, and published to devonhargreaves.com, before appearing as a ‘Letter to the Editor’ in the Lethbridge Herald, on April 20, 2022.
Last Thursday, our federal Liberal government announced the 2022 budget, investing heavily in our economic growth. The budget is ambitious, yet realistic, in how it endeavors to move Canada beyond the unpredictability of the previous two years.
Key pieces that will benefit Alberta include creating a refundable investment tax credit for carbon capture and storage projects, returning proceeds from the price on pollution to small and medium sized businesses, wildfire mitigation supports, tax cuts for small businesses, and increasing Climate Action Incentive payments, meaning 8 out of 10 people in Alberta will receive increased funding.
In a move that will be welcomed by Lethbridge, with most families unable to obtain a doctor following the slash and burn practices of our provincial conservative government, the Foreign Credential Recognition Program will be expanded, allowing up to 11,000 internationally trained health care professionals per year to get their credentials and begin practicing in their field. In addition, the federal government will be providing $5.2 billion to Alberta through the Canada Health Transfer, and offering dental care to families with an income of under $90,000 annually, with no co-pays for families earning $70,000 or less, and adding budget lines towards increasing loan forgiveness for doctors and nurses in rural communities, addressing the opioid crisis, and increased mental health supports. Our government will also be providing provinces and territories with an additional $2 billion to address surgery and procedure backlogs.
Another key commitment from the 2021 Liberal platform, and seen in Thursday’s budget, is tackling home affordability. While launching initiatives to assist in doubling the construction of new housing over the next decade, it includes steps to make home ownership a reality for more people, now. These include the creation of a Tax-Free First Home Savings Account, allowing individuals under age 40 to set aside up to $40,000 tax-free towards their first home, as well as doubling the First-Time Home Buyers’ Tax Credit (up to $10,000), while introducing a Home Buyers’ Bill of Rights that eliminates blind bidding. The government also plans to launch a new Housing Accelerator Fund, which would create 100,000 net new affordable housing units.
Bold, decisive action is needed to get Lethbridge families ahead financially, protect our climate, and build for our children’s future. I ran in the last federal election because the Liberals had a plan to do just that. Budget 2022 delivers on that promise.