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BUDGET 2009

Federal spending

Where the money's going

Last Updated: Monday, January 26, 2009 | 11:23 PM ET

CBC News

The budget math is fairly straightforward: Increased spending on economic stimulus measures plus an economic downturn equal ballooning expenses for the federal government.

Ottawa expects to spend $258.6 billion in 2009-10, up about nine per cent from a projected $237.4 billion in the current 2008-09 fiscal year that ends in March. The government spent $232.8 billion in 2007-08.

For the first time in more than a decade, this would leave less money in the kitty than what the government has spent: projected deficits of $1.1 billion for 2008-09 and $33.7 billion for 2009-10.

Here’s a more detailed breakdown of the government’s proposed spending. All figures are in billions of dollars:

IN DEPTH: Federal budget 2009

YOUR VIEW: What in this budget most affects you?
CITIZEN BYTE: Daycare? A single parent reacts to the budget
YOUR VOTE: How does this budget help you?
CITIZEN BYTE: A young man shares story of economic success in his town
MAP: Reaction to the 2009 Budget
VIDEO: Margo McDiarmid reports: Ignatieff puts Tories 'on probation' with budget demand
VIDEO: The National's economic panel shares its thoughts on the budget (Jan. 27)
VIDEO: Marivel Taruc reports: Mixed feelings on the budget from the business community

Documents

Full federal budget: Complete budget documents at Ministry of Finance website
Economic action plan: Overview of economic stimulus
Home renovation tax credit: Eligibility and time frame
Taxes: Personal income tax, homeowners taxes

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Banks & Trusts	Interest Rate	Minimum Deposit	Features
Home Trust Company	0.85%	$2,500
Equitable Trust	0.80%	$5,000
Ally	0.75%	$1	Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust	0.70%	$1,000
ResMor Trust	0.65%	$5,000
ICICI Bank Canada	0.50%	$1,000
ING Direct	0.50%	$1
Peoples Trust	0.50%	$5,000
Pacific & Western Bank	0.45%	$5,000
Bank West	0.35%	$5,000

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Home Trust Company	1.25%	$2,500
ResMor Trust	1.10%	$5,000
Ally	1.00%	$1	Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust	0.85%	$5,000
SunLife Financial Trust	0.80%	$1,000
Pacific & Western Bank	0.70%	$5,000
ING Direct	0.50%	$1
Manulife Bank	0.50%	$25,000
Peoples Trust	0.50%	$5,000
General Bank of Canada	0.50%	$25,000

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Home Trust Company	1.25%	$2,500
ResMor Trust	1.10%	$5,000
Ally	1.10%	$1	Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust	0.85%	$5,000
SunLife Financial Trust	0.80%	$1,000
Pacific & Western Bank	0.75%	$5,000
Manulife Bank	0.50%	$25,000
Peoples Trust	0.50%	$5,000
General Bank of Canada	0.50%	$25,000
ING Direct	0.50%	$1

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Ally	1.75%	$1	No-Penalty option, no fees, daily compounded interest.
Home Trust Company	1.55%	$1,000
Pacific & Western Bank	1.55%	$1,000
ResMor Trust	1.46%	$1,000
SunLife Financial Trust	1.45%	$1,000
Community Trust	1.35%	$1,000
Korea Exchange Bank	1.30%	$3,500
State Bank of India (C)	1.30%	$2,000
ING Direct	1.25%	$1
Alterna Bank	1.20%	$500

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Ally	2.30%	$1	Guaranteed earnings. No minimums, fees or service charges.
ING Direct	2.25%	$1
Pacific & Western Bank	2.15%	$1,000
Home Trust Company	2.15%	$1,000
ResMor Trust	2.11%	$1,000
SunLife Financial Trust	2.05%	$1,000
State Bank of India (C)	2.00%	$2,000
Korea Exchange Bank	2.00%	$3,500
Community Trust	1.95%	$1,000
HomEquity Bank	1.90%	$5,000

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Ally	2.75%	$1	Guaranteed earnings. No minimums, fees or service charges.
Alterna Bank	2.75%	$500
Home Trust Company	2.65%	$1,000
SunLife Financial Trust	2.65%	$1,000
ResMor Trust	2.60%	$1,000
HomEquity Bank	2.55%	$5,000
Manulife Bank	2.50%	$2,500
ING Direct	2.50%	$1
President's Choice Fin'l	2.50%	$500
State Bank of India (C)	2.50%	$2,000

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Ally	3.60%	$1	Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust	3.45%	$1,000
Home Trust Company	3.35%	$1,000
Pacific & Western Bank	3.30%	$1,000
B2B Trust	3.30%	$500
President's Choice Fin'l	3.25%	$500
ING Direct	3.25%	$1
HomEquity Bank	3.25%	$5,000
Manulife Bank	3.25%	$2,500
Canadian Western Bank	3.20%	$500

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Peoples Trust	2.10%	$0
Ally	2.00%	$0	No minimums, no fees, daily compounded interest.
State Bank of India (C)	1.25%	$1,000
Canadian Tire Bank	1.20%	$0
ICICI Bank Canada	1.20%	$0
ING Direct	1.05%	$0
Amex Bank of Canada	1.00%	$0
Manulife Bank	1.00%	$0
Alterna Bank	0.85%	$0
Royal Bank of Canada	0.75%	$0

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Ally	2.00%	$0	Invest up to $5000/year tax-free, withdraw at any time.
State Bank of India (C)	1.75%	$0
Bank of Nova Scotia	1.50%	$0
Canadian Tire Bank	1.50%	$0
ICICI Bank Canada	1.40%	$0
ING Direct	1.05%	$0
President's Choice Fin'l	1.00%	$0
Manulife Bank	1.00%	$0
BMO Bank of Montreal	1.00%	$0
HSBC Bank Canada	0.80%	$0

Money Headlines

Ottawa will stay course on stimulus: Flaherty: Rather than turning off the stimulus taps or pouring more fuel on the economic fire, Ottawa will stand pat with the $61 billion in stimulus spending announced in January, Finance Minister Jim Flaherty says.
Canada Post struggles to innovate: Canada's postal service is reinventing itself as it struggles to make up for dwindling demand in the face of a devastating global economic slowdown.
The 10-billion-barrel battle: Henry Lyatsky wants B.C.'s coast opened to oil drilling but environmentalists stand opposed.
CAW, Johnson Controls reach tentative deal: After a successful late-night bargaining session, the Canadian Auto Workers Union and management at Johnson Controls have reached a tentative agreement on a new three-year labour deal.
Agrium's bid for CF stumbles: Calgary-based Agrium has suffered a setback in its bid to take over rival CF Industries.

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BUDGET 2009

Federal spending

Where the money's going

Last Updated: Monday, January 26, 2009 | 11:23 PM ET

CBC News

IN DEPTH: Federal budget 2009

Documents

Analysis

Features

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