Finance Minister Chrystia Freeland is set to unveil the federal budget in the House of Commons this afternoon.
The spending plan will aim to address both affordability and Canada's place in the green technology revolution.
The budget is expected to detail plans to crack down on predatory lending, commit more money to dental care and bring in another temporary boost to the GST rebate to help pay for rising grocery prices.
Meanwhile, companies in industries like critical minerals, batteries and renewable energy will see a host of measures to incentivize investment in their projects.
As Canada faces a potential recession this year, economists say balancing these spending priorities with an uncertain economic outlook won't be easy for the Liberals.
Freeland has stressed that the budget will be fiscally restrained and won't work against the Bank of Canada's efforts to tame inflation.