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Mark Carney’s first budget plots a sharp departure from past fiscal plans
Carney's budget introduces separate capital and operational spending to manage a projected $75-90 billion deficit amid global economic challenges and increased defence investments.
- Prime Minister Mark Carney will table his first federal budget in Ottawa, separating operational and capital spending and pledging to balance the operational budget within three years.
- Amid ruptured global economics and geopolitical uncertainty, officials warn of tough choices and a three-year spending-review saving target of 15 per cent to spend less and invest more.
- Pre-Budget announcements included $9 billion for defence by March 31, 2026, $13 billion for the Build Canada Homes agency, plus $2 billion for small reactors and $5 billion for a Strategic Response Fund, leaving Ottawa's fiscal position under significant pressure.
- The budget becomes a confidence vote, with opposition parties, including NDP , and Bloc Québécois’ support uncertain, Sahir Khan says a declining debt-to-GDP ratio is vital.
- Officials say there will be transparency on what is being cut and Carney emphasizes the focus on capital investments and program reductions, aiming for clarity beyond percentages.
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Will the budget kill Carney's honeymoon?
Watch for provincial governments to attack Carney for not doing enough in the budget. Mind you, none of this means Carney won’t survive the onslaught. It just means, after the budget, he can no longer be all things to all people. He’ll need to decide how to redefine himself.
After weeks of federal spending announcements as the budget approaches, the largest unknown remains the magnitude of the deficit and planned cuts.
·Montreal, Canada
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Winnipeg Free Press+2 Reposted by 2 other sources
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Total News Sources51
Leaning Left27Leaning Right1Center4Last UpdatedBias Distribution84% Left
Bias Distribution
- 84% of the sources lean Left
84% Left
L 84%
13%
Factuality
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