Key Points About PM Mark Carney's First Federal Budget
The first federal budget of Prime Minister Mark Carney is expected to be bold and ambitious, potentially coming with a significant price tag.
The last update on Ottawa's finances was in the fall economic statement of December 2024, which projected a $48.3 billion deficit for 2024-25, aiming to reduce it to $23 billion by 2029-30.
Carney's government, which campaigned on reducing reliance on the United States amidst a trade war, may not follow the same fiscal path as previously suggested.
Carney has promised that his first budget will be bold, ambitious, and “meet this moment”
This budget will also serve as an automatic confidence vote in the minority Liberal government.
Author's summary: PM Mark Carney's first federal budget promises bold changes.