Stratford and District Chamber of Commerce GM Aaron Martin said he’s taking a wait and see approach to the newly released federal budget.
It’s early days and the federal budget is tabled, not yet approved, and Martin said he, like many, are looking through many pages of information and seeing how it could impact the local business community, the city and country.
Martin said he is sure the budget will be passed, avoiding another federal election, noting there is no interest from Canadians to head to the polls again anytime soon.
The fiscal outlook points to a deficit of about $70 billion in 2025-26, with the debt-to-GDP ratio expected to hover around 44 per cent.
The GM said there is a lot of focus in the budget on boosting productivity, efficiencies and innovation.
There are proposals to accelerate housing and infrastructure development, he said.
The Liberal government have introduced a national Homes for Every Generation strategy that pledges billions toward affordable housing and faster construction.
A new federal housing agency will co-ordinate projects with provinces and municipalities.
Martin said releasing the budget helped put some minds at ease, given it was tabled much later in the year than has been the norm.
“People have been critical and rightly so,” he said of the delay in release. “We need a budget to present a framework…and move forward. When there is nothing put out there, it’s harder for businesses to make important decisions.”
Martin said decisions made at the federal level ultimately reverberate down the chain and impact local businesses and residents, and he will be looking into the finer details and having many more conversations about the impact of the budget.
