As the federal budget unveiling approaches, Canadians are more concerned than ever in the financial direction of the country. From April 12 to April 15, 2024, Leger surveyed Canadians to find out their opinions and perceptions on the 2024 Canadian federal budget.
Some of the key highlights of our survey about the 2024 Canadian federal budget include…
- More than half of Canadians (56%) believe that the country’s economy is headed in the wrong direction. Approximately one-quarter (27%) feel it is on the right track, while 17% are unsure. Quebecers (32%), men (32%), and young Canadians aged 18-34 (33%) are more inclined to view the direction of the Canadian economy positively.
- Compared to last year, six out of ten Canadians (59%) perceive the economy as weaker, with only 12% considering it stronger and 23% seeing no change. Looking ahead to the next six months, 42% anticipate the economy will weaken further, 17% expect it to strengthen, and one-third (32%) foresee no change.
- A majority of Canadians do not agree with positive statements regarding federal policies. Only one in five (19%) agree that the government’s economic strategy will benefit their personal finances. One-third (33%) believe the government is taking positive steps to grow the Canadian economy and address housing affordability. More than one-third (35%) agree that the government is pursuing policies focusing on helping middle-class families.
- Regarding budget measures already announced by the government, the launch of the $6 billion Canada Housing Infrastructure Fund receives the most support from Canadians, with three-quarters (73%) in favour. The least popular measure is the announcement of investments in artificial intelligence capacity, supported by only 35% of Canadians.
- Only one-quarter of Canadians are confident that investments in housing affordability will significantly reduce the costs of renting (27%) or buying (24%) homes in Canada.
- Two-thirds of Canadians (66%) would prefer the government to make cuts elsewhere rather than run a larger deficit (26%) or raise taxes (8%) to cover announced spending for the upcoming budget.
- If the government were to increase taxes, three-quarters of Canadians would support a new tax on personal wealth over $10 million (78%) and a tax on very large company profits (75%). Increases in the Goods and Services Tax (GST) (12%) and personal income taxes (10%) receive the least support.
Methodology
This web survey was conducted from April 12 to 14, 2024, with 1,525 Canadians aged 18 or older, randomly recruited from LEO’s online panel. A margin of error cannot be associated with a non-probability sample in a panel survey. For comparison, a probability sample of 1,525 respondents would have a margin of error of ±2.51 %, 19 times out of 20.
