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Carney’s budget bill becomes law after passing final Senate hurdle

On Thursday evening, Bill C-15 received royal assent and became law after the Senate gave its final sign-off, marking a milestone for Prime Minister Mark Carney's minority Liberal government.
Carney tabled the Liberals' 2025 budget on Parliament Hill on Tuesday, November 4, 2025, introducing a fiscal framework directing Ottawa to eventually borrow only for capital investments while cutting day-to-day program expenses and downsizing the public service.
The bill passed the House of Commons on recorded division in February, meaning MPs approved it without unanimous support, while the budget implementation measures saw the deficit rise to $78.3 billion for this fiscal year.
With royal assent, the government can now implement its fiscal framework to shift borrowing toward capital projects and restructure federal spending, achieving a legislative victory for Carney's minority Liberal government.
Over the medium term, the budget measures are expected to reshape federal finances and affect program availability and public-service employment, while Canada met NATO's two per cent of GDP defence spending target in 2025.

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