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7 Takeaways for Canadians From PM Carney’s Spring Economic Update

The update projects a $66.9 billion deficit and $37.5 billion in new measures, including trade, sports and fraud-fighting spending.

  • On Tuesday, the Liberal government released its 2026 spring economic update, reporting a deficit of $66.9 billion for the fiscal year that ended last month, $11.5 billion lower than Budget 2025 projected.
  • Federal finances improved primarily due to a $60-billion uplift from surging oil prices, while average annual federal revenues increased by $7.2 billion over previous budget projections.
  • The update outlines $37.5 billion in new spending, earmarking $25 billion for the Canada Strong Fund and $5.9 billion over five years to recruit 80,000 to 100,000 skilled trade workers.
  • Legislation will lower Canada Pension Plan contribution rates to 9.5 per cent starting next year, while the government announced it intends to ban cryptocurrency ATMs to address financial fraud.
  • Despite these investments, the government remains slated to run annual deficits of well over $50 billion through 2031, prompting tax policy analyst Fred O Riordan to warn that ordinary Canadians looking for pocketbook savings will be disappointed.
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42 Articles

cknxnewstoday.cacknxnewstoday.ca
+3 Reposted by 3 other sources
Lean Left

Billions in new spending in federal government's economic update

The spring economic update showed the federal deficit is $11 billion lower than projected

·Kemptville, Canada
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Bowen Island UndercurrentBowen Island Undercurrent
+17 Reposted by 17 other sources
Lean Left

Big spending, smaller deficit: key numbers from the spring economic update

OTTAWA — Here's a brief look at some of the key numbers in the Liberal government's 2026 spring economic update: $66.9 billion: Projected deficit for 2025-26, $11.5 billion lower than the projection in Budget 2025.

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dailyguardian.ca broke the news on Tuesday, April 28, 2026.
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