OTTAWA — After 18 months without a budget, the minority Liberals tabled a plan containing nearly $126 billion in new spending and $60 billion in savings, which they hope will convince at least one opposition party to prevent an early election.
Finance Minister François-Philippe Champagne tabled his first budget in the House of Commons shortly after 4 p.m. on Tuesday, for what he said is a “true generational shift” in reaction to the new global economic landscape under U.S. President Donald Trump.
Some highlights …
Federal budget breakdown: Mark Carney’s first budget, by the numbers
OTTAWA — Billed as a once-in-a-generation plan to fortify Canada for a wobbly and uncertain global economy, the federal government’s new budget devotes tens of billions of dollars in new spending to national defence, infrastructure and more.
This budget is a Trump survival plan. Here are the highlights
Donald Trump doesn’t appear by name in the 2025 federal budget, even if his One Big Beautiful Bill does get a mention, but the U.S. President has left his mark all over the 493-page document.
From the opening words, “The world is changing,” the Carney government’s first budget is a response to Mr. Trump’s trade war and the threat to Canada’s economy. That means ramped-up defence spending, measures to make Canadian businesses more competitive and billions in new investment around trade diversification.
