Canadian Public Divided on Federal Budget, but Supports Housing Plan

A new Leger poll conducted from April 19 to 21, 2024 suggests the Canadian public has a negative opinion of the 2024 federal budget presented by the Liberal government. The survey, which polled 1,522 Canadians aged 18 or older, found that only 21% of respondents have a positive view of the budget, while nearly half (49%) expressed a negative opinion. The poll results have a margin of error of ±2.51%, 19 times out of 20.

Despite the overall negative sentiment, the poll revealed broad support for some specific measures in the budget. Most notably, 65% of Canadians support the government's $8.5 billion housing plan to build 3.9 million homes by 2031. The poll also found majority support for increased spending on energy efficiency, national defense, and student loan forgiveness for healthcare and education workers.

The Liberals' plan to increase the capital gains tax inclusion rate, which is estimated to raise $19.4 billion in revenue over the next four years, garnered the support of 56% of respondents. Interestingly, while the government is aiming these tax changes at younger Canadians, the highest support (60%) for the measure came from those over the age of 55. The Canadian Medical Association has criticized the capital gains tax changes, warning it could affect the country's ability to recruit and retain physicians.

Why this matters: The poll results emphasize the challenges facing the Liberal government in selling its fiscal approach to Canadians. The mixed public reaction to the budget highlights the delicate balance between addressing pressing issues like housing affordability and managing the country's finances. The government's ability to implement its agenda and maintain public trust may depend on effectively communicating the rationale and benefits of its policies.

When it comes to the government's fiscal strategy, the poll found that Canadians are divided. Nearly half of respondents (47%) want the government to cut back on spending and programs to balance the budget as quickly as possible. In contrast, only 16% said spending more and running large deficits is the best plan for the next five years.

The poll also revealed some regional and demographic differences in opinions on the budget. Respondents in Alberta were most likely to have a very negative impression, while younger people were less likely to support increased defense spending compared to older age groups.

Key Takeaways

• Leger poll finds 49% of Canadians have negative view of 2024 federal budget
• 65% support $8.5B housing plan, 56% back capital gains tax increase
• 47% want spending cuts to balance budget, 16% support more spending
• Albertans most likely to have very negative impression, younger less supportive of defense spending
• Liberals face challenge in selling fiscal approach, need to effectively communicate policies