The government will present its second budget on March 22, Finance Minister Bill Morneau announced earlier this week. So what could Ottawa have in store for your wallet?
The contents of the budget are tightly guarded, so it’s impossible to tell for sure what will be in it ahead of time. But keen Ottawa watchers have become adept at reading the budget tea leaves and making fairly accurate guesses about some of the provisions the government is about to table.
Here’s a look at some of measures that could be coming down the pike and might have a direct impact on your finances:
Tying Old Age Security and Guaranteed Income Supplement payments to a new measure of living costs
OAS and GIS payments already rise in tandem with inflation, but the Liberals noted that, according to a Statistics Canada study, the price of most things seniors buy tends to rise faster. In its 2015 elections platform, the party proposed developing a Seniors Price Index that would supplement the general Consumer Price Index to which OAS and GIS are currently indexed.
Leave a Reply