US EditionFederal Budget Deficit Nearly Twice the Size Forecast by Liberals
The federal deficit is projected at $78.3 billion amid economic uncertainty and a focus on capital investments to boost productivity, housing, defence, and infrastructure.
- The budget projects a $78.3-billion deficit for this fiscal year, as Finance Minister François-Philippe Champagne tabled it in Canada.
- Ottawa says trade-rule uncertainty and the Canada-U.S. trade war have weighed heavily on the economy, with Champagne warning economic uncertainty is higher than in generations.
- The 406-page plan prioritizes multiyear capital commitments including $115 billion for major infrastructure, $110 billion for productivity and competitiveness funding, and $30 billion for defence and security, proposing $90 billion in new net spending over five years.
- The Liberals' 2025 budget states a spending review will save $60 billion over five years and plans to reduce public service workforce, with capital accounting pairing these changes.
- TD senior economist Francis Fong warned private investment may not follow despite the capital push, citing downside and upside forecasts that could worsen or improve the deficit.
33 Articles
33 Articles
cknewstoday.ca
Proposed federal budget pushes big on capital investment
The first proposed budget under Prime Minister Mark Carney will target big-ticket investments as Canada's economy continues to face challenges due to the historic rise in tariffs.Finance Minister François-Philippe Champagne presented the new Liberal government’s first budget Tuesday, saying it will focus on major capital spending to boost the economy in these uncertain times."The budget I present today comes at a time of profound change, a time …
Federal budget: Carney government posts largest deficit in Canadian history outside pandemic
Federal deficit projected to exceed $78 billion This is Ottawa’s tenth consecutive unbalanced budget Every newborn baby in Canada now enters the world with a debt of more than $33,000. Repackaging record spending as “investments” while offering no credible path back to balance is the opposite of responsible fiscal stewardship, asserts the MEI in response to the tabling of the federal budget this afternoon. “Canadians should find a deficit this…
Carney’s First Budget Projects $78 Billion Deficit
Finance Minister François-Philippe Champagne tabled the new Carney government’s first budget on Nov. 4. The budget outlines a deficit of $78.3 billion this fiscal year and projects a debt-to-GDP ratio that will rise but then stabilize over the next few years. The 406-page budget proposes $90 billion in new net spending over the next five years, and seeks to enable $1 trillion in total investments over the same period through “smarter public spen…
Coverage Details
Bias Distribution
- 71% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
