Carney government adds $142B in new spending to spur economic growth, address affordability
The plan targets business investment and affordability with a $152 billion spending surge, while deficits stay near $62.3 billion this year, officials said.
- On Thursday, Canadian Prime Minister Mark Carney unveiled the "Masters of Our Destiny" budget aimed at reducing economic dependence on the United States as President Donald Trump's trade war reshapes the allies' relationship.
- Forecasting growth of just 1% in 2026 and 1.7% in 2027, the government plans to double exports outside the United States by 2035, forging closer ties with Europe and Asia.
- The government projects $603 billion Canadian in spending and a $62.3 billion deficit for 2026-27, while tax incentives reduce Canada's effective investment tax rate to 6.4%, less than half the U.S. comparable rate.
- Allocating $7.7 billion to strengthen the defense industry, the budget aims to award 70% of military contracts to Canadian firms and establishes a $25 billion national sovereign wealth fund.
- The budget announcement comes two days after Democrats swept U.S. midterm elections, potentially weakening Trump's political position as the countries pursue a possible trade agreement.
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88 Articles
Le Journal de Montreal
Le Journal de QuebecMark Carney is transforming Canada and its economy.
With its 2026 budget, the Carney government wants to boost productivity to make the economy more resilient, while responding to the homelessness crisis.
Carney unveils budget to strengthen Canada’s economy as Trump’s trade war slows growth – WTOP News
OTTAWA, Ontario (AP) — Canadian Prime Minister Mark Carney’s government unveiled a budget Thursday aimed at making Canada less dependent on the United States as President Donald Trump’s trade war reshapes the allies’ economic relationship. The budget, titled “Masters of Our Destiny,” proposes $142.1 billion Canadian (US$101.6 billion) multiyear spending and tax breaks, including incentives...
My Mother Lode
The Seattle TimesCarney unveils budget to strengthen Canada’s economy as Trump’s trade war continues
OTTAWA, Ontario (AP) — Canadian Prime Minister Mark Carney’s government unveiled a budget Thursday aimed at making Canada less dependent on the United States as President Donald Trump’s trade war reshapes the allies’ economic relationship. The budget, titled “Masters of Our Destiny,” proposes $142.1 billion Canadian (US$101.6 billion) multiyear spending and tax breaks, including incentives...
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