2024 Federal Budget Released

Relevant information for pharmacies

On April 16, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released Budget 2024: Fairness for Every Generation. While light on health commitments, the 2024 Budget contains a number of announcements relevant to pharmacy, including:

  • $1.5 billion over 5 years, starting in 2024-25, to support the National Pharmacare Plan. As outlined in our February 2024 pre-Budget submission, we will continue to advocate for an implementation model that fills gaps in existing coverage, rather than disrupts the coverage currently accessible to more than 97% of all Canadians.
  •  $3.2 million over 3 years to upgrade Health Canada’s supply management capacity for drugs and medical devices. As noted in our August 2023 recommendations to prevent and manage drug shortages, ensuring a robust pharmaceutical supply chain is vital to ensure Canadians have continued access to medications and care through their pharmacies.
  • Planned amendments to expand the Canada Student Loan Forgiveness Program to more health professionals working in rural and remote communities, including pharmacists.