Federal Budget Deficit Nearly Twice the Size Forecast by Liberals

Deficit soars to $78.3B as Carney budget bets big on ‘investment’ spending while slashing public service

Carney’s minority government stakes its survival on the plan that books more than $141 billion in new federal spending over the next five years.

Federal budget deficit nearly twice the size forecast by Liberals

The budget tabled Tuesday projects a $78.3-billion total deficit, as Prime Minister Mark Carney’s government prioritizes capital project spending over programs and services.

Carney’s First Budget Projects $78 Billion Deficit

Finance Minister François-Philippe Champagne tabled the new Carney government’s first budget on Nov. 4. The budget outlines a deficit of $78.3 billion this fiscal year and projects a debt-to-GDP ratio that will rise but then stabilize over the next few years. The 406-page budget proposes $90 billion in new net spending over the next five years, and seeks to enable $1 trillion in total investments over the same period through “smarter public spen…

Mark Carney’s first budget projects $78B deficit, program and civil service cuts

If all opposition MPs vote against the budget, it will fail, triggering an election

Canada Budget 2025: $78.3B deficit and other key highlights

The fiscal 2025-26 budget proposes spending of $581 billion and a deficit of $78.3 billion.