US EditionCarney's first budget doubles Canada's deficit in attempt to counter US trade rift
The budget includes $9 billion for defense and billions for housing amid tariff challenges, aiming to transform Canada's economy from reliance to resilience, officials said.
- On Tuesday, Finance Minister François-Philippe Champagne will deliver the new Liberal government's first budget, calling it full of "generational investments" to weather a tariff-related economic storm and fulfill Prime Minister Mark Carney's promise of a pro-growth plan to "define our next century" for Canada.
- Facing stalled tariff talks, the budget targets relief for steel, aluminum, autos and lumber hit by U.S. President Donald Trump’s Section 232 tariffs.
- Pre-Budget announcements show $9 billion for defence and $13 billion for the Build Canada Homes agency, while accounting changes separate capital and operational spending.
- Parliamentary math shows the Liberal minority government needs at least three Opposition members to pass the budget, while Conservatives demand a deficit at $42 billion and a lost vote could trigger an election before Christmas.
- Prime Minister Mark Carney aims to transform Canada by funnelling public dollars to key sectors, pledging to `Buy Canadian` and finding 15 per cent savings over three years while balancing the operational budget.
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Alberta government wants more details on federal budget before passing judgment (Canada)
Alberta's finance minister says Ottawa's budget has some good elements and some bad, but he's hoping to get more clarity on regulatory changes that could affect the energy industry. Prime Minister Mark Carney's first budget signals that the government might not move forward with its proposed emissio...
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Canada unveils 'historic' budget aiming to jumpstart slowing economy
Canadian Prime Minister Mark Carney's government on Tuesday unveiled a "historic" budget aimed at overhauling an economy that is reeling from US tariffs and expected to slow in 2025 and 2026.
Canada Plans to Add $119 Billion to Deficits as Growth Stalls
Canada is set to rack up larger deficits under Mark Carney, who used his first budget as prime minister to inject tens of billions of dollars into defense, housing and major projects intended to help the country increase exports to overseas markets.
Carney's first budget doubles Canada's deficit in attempt to counter US trade rift
Canada's budget shortfall will more than double this year as Prime Minister Mark Carney pours billions of dollars to fight U.S. tariffs, boost defense spending and diversify trade, his maiden budget proposal showed on Tuesday.
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