09:36 AM EDT, 04/16/2024 (MT Newswires) -- The Canadian Press noted Finance Minister Chrystia Freeland is set to present the federal budget later on Tuesday after a countrywide tour that teased many of the housing and affordability measures to be included in the document. Here's some of what the federal Liberals have already promised, The Canadian Press is reporting (as per the BNN Bloomberg website).

Housing plan: On Friday, Prime Minister Justin Trudeau announced his government's plan to tackle the housing crisis, which he promised will build nearly 3.9 million homes by 2031.The plan builds on a string of announcements made over the last few weeks and since the fall, pledging billions of dollars in low-cost loans, infrastructure spending and homelessness support.

Ottawa is promising to: increase the capital cost allowance rate for apartments from four to 10 per cent, which will increase how much builders can write off from their taxes; extend the mortgage amortization period to 30 years for first-time homebuyers purchasing new builds; make more public lands available for home construction, while leasing lands to developers rather than selling them off.

National defence spending:

The Liberal government plans to boost military spending to 1.76% of GDP by 2030. That includes setting aside another $8.1 billion over the next five years and spending $73 billion by 2044.

Artificial intelligence: Ottawa is setting aside $2.4 billion in the upcoming budget to build capacity in artificial intelligence. The bulk of that -- $2 billion -- is going into a fund that will aim to provide access to computing capabilities and technical infrastructure.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed. This report by The Canadian Press was was first published April 16, 2024.)