US EditionCarney's cabinet asked to find 'ambitious savings' ahead of fall budget
CANADA, JUL 7 – Ministers must find up to 15% savings by 2028-29 to fund new priorities and manage deficits while aiming to balance the budget by 2028, officials said.
- Finance Minister François-Philippe Champagne sent letters to cabinet ministers on Monday, requesting ambitious savings proposals ahead of the 2025 budget.
- Canada’s operating costs grew 9% annually under the last Liberal government, while Defence Minister McGuinty says he hasn't discussed social service cuts to fund the 5% GDP defence pledge.
- Champagne’s director of communications confirmed ministers must identify three priorities and reduce program spending by 7.5%, 10%, and 15% in 2026-29 using existing resources.
- Cabinet ministers are tasked with finding ambitious spending cuts amid rising deficits and increased defence commitments, risking internal tensions and union resistance to job reductions.
- Canada’s federal government is conducting a summer expenditure review, with ministers required to submit ambitious savings plans by end of August ahead of the fall budget, which will be tabled after parliament resumes in September.
30 Articles
30 Articles
John Robson: We Have Far Less Time Than We Think to Balance the Budget
Commentary Kaboom. It’s loud, scary, and urgent. But it’s not the sound of new Canadian munitions going off as we ramp up to $150 billion a year in defence spending because they said so. It’s the federal budget detonating. And if anyone’s minded to call the bomb squad instead of waiting to be blown to insolvency come, now would be a good time. A really good time. In C2C Journal, Gwyn Morgan snidely recalled a former prime minister’s assurance th…
INFO THE FIGARO - Freezing of social benefits, reduction of the appropriations of the ministries, non-replacement of one in two officials... The elected members of the common base presented a list of measures to the Prime Minister to help him in the preparation of his budget.
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