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Canada to present its main federal budget in autumn from this year on, says government
The new framework separates operational and capital spending to improve transparency and financial planning, with the federal deficit expected to near $70 billion, officials said.
- On Nov. 4, the Liberal government will introduce this year's budget and table all future federal budgets in the fall, ending the spring tradition.
- The new capital budgeting framework separates operational spending from capital investments and fulfils a promise made by Prime Minister Mark Carney during the last federal election campaign.
- The fall economic and fiscal update will move to spring, swapping the traditional release schedule, while Finance Canada defines capital investment broadly, including tax incentives, research and development, and housing stock increases.
- The schedule change will help businesses plan financially ahead of the spring construction season and give organizations that rely on federal funding clearer budget expectations.
- Officials note more budget measures will be ready for the main estimates, which must be tabled by March 1 for parliamentary approval.
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With deficit set to soar, Ottawa shifts budgets from spring to fall
Ottawa shifts budgets from spring to fall
Prime Minister Mark Carney’s Liberal government plans to table the federal budget in the fall going forward, ending the long-standing practice of releasing the document in the spring. The Liberals intend to introduce this year’s budget on Nov. 4, after foregoing a spring budget following the April election. The parliamentary budget officer predicts this budget […]
·Toronto, Canada
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Total News Sources25
Leaning Left11Leaning Right2Center3Last UpdatedBias Distribution69% Left
Bias Distribution
- 69% of the sources lean Left
69% Left
L 69%
C 19%
12%
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