Finance Minister Chrystia Freeland will present the Liberal government's federal budget on April 16, as cost-of-living issues continue to dominate Canadian politics. 

In a news release, Freeland says the government economic plan is about build more homes, making life more affordable and creating good jobs.

The spending plan is coming at a time when high interest rates are putting a damper on the economy and raising fiscal pressures on the Liberal government.

Freeland recently reiterated her commitment to new fiscal guardrails introduced in the fall that would limit deficits. 

The federal government pledged in the fall that the current fiscal year's deficit would not get any bigger than what was projected.

According to the Finance Department, the federal deficit for the current fiscal year stood at $23.6 billion by the end of December. 

This report by The Canadian Press was first published March 4, 2024.