US EditionHow Mark Carney’s Budget Is Playing in Conservative-Targeted Brampton
The federal government plans $78.3 billion deficit for 2025-26, investing $56.6 billion in defense and infrastructure while cutting $60 billion in spending and altering climate policies.
7 Articles
7 Articles
How Mark Carney’s budget is playing in Conservative-targeted Brampton
Mayor Patrick Brown said he’s “pretty excited” about funding for Brampton’s transit system and new medical school. But some residents expressed disappointment with the prime minister’s progress on affordability and the environment.
François-Philippe Champagne does not lack ambition. The new Minister of Finance had set the bar very high by promising nothing less than a "generational" budget. This word, he constantly hammered it all day.
ANALYSIS | Are Canadians going to get behind Mark Carney's 'generational' budget?
"Generational" is the Carney government's adjective of choice at this moment of consequence. The word appeared 11 times in the prepared text of François Philippe-Champagne's budget speech and another 45 times in the 493-page budget document.
The first figures to be taken from Mark Carney's first budget since he became Prime Minister of Canada are as follows: For 2025-2026, the projected deficit is $78.3 billion, or 2.5% of GDP. In 2025, the net debt-to-GDP ratio for all levels of government is 13.3%, compared to an average of 101.4% for the other G7 countries. The government anticipates that the projected deficit, as a proportion of the economy, will decrease to 1.5% of GDP by 2029-…
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