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What to know about PM Mark Carney’s first federal budget
Carney's budget aims to balance operating costs in three years while increasing capital spending deficits, including billions for defence and infrastructure amid minority government risks.
- On Tuesday, Prime Minister Mark Carney will present his first federal budget in Parliament in Ottawa, aiming to balance the operating budget within three years while running a capital deficit for projects.
- Facing a projected $48.3 billion deficit for 2024-25, Ottawa frames the budget around fiscal repair as Canada's deficit hits about 2.2 per cent of GDP and U.S. trade talks remain on hiatus.
- The budget pairs deep public-service savings with funding for a Major Projects Office, Build Canada Homes, billions for defence, and a `strategic response fund` for tariff-hit sectors.
- The budget is a confidence measure in the House, meaning rejection could force a new election as opposition parties have not committed to backing the Liberal government.
- Carney pledged during the spring election to hit NATO's two per cent target by March 2026, but NATO’s new five per cent goal by 2035 will add about $9 billion in costs, the government says.
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79 Articles
For the first time in its history, Ottawa will present the budget information in two separate sections: operating expenditures and investments. The Carney government says it wants to balance operating expenditures within three years and, at the same time, seems to broaden the definition of investment.
·Montreal, Canada
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Total News Sources79
Leaning Left33Leaning Right5Center5Last UpdatedBias Distribution77% Left
Bias Distribution
- 77% of the sources lean Left
77% Left
L 77%
12%
11%
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