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What to know about PM Mark Carney’s first federal budget
The 2025 budget increases defence spending to meet NATO goals and allocates $3.6 billion to expand Employment Insurance, targeting support for vulnerable Canadians and tariff-affected sectors.
- On Tuesday, Prime Minister Mark Carney will present his first federal budget in Parliament in Ottawa, aiming to balance the operating budget within three years while running a capital deficit for projects.
- Facing a projected $48.3 billion deficit for 2024-25, Ottawa frames the budget around fiscal repair as Canada's deficit hits about 2.2 per cent of GDP and U.S. trade talks remain on hiatus.
- The budget pairs deep public-service savings with funding for a Major Projects Office, Build Canada Homes, billions for defence, and a `strategic response fund` for tariff-hit sectors.
- The budget is a confidence measure in the House, meaning rejection could force a new election as opposition parties have not committed to backing the Liberal government.
- Carney pledged during the spring election to hit NATO's two per cent target by March 2026, but NATO’s new five per cent goal by 2035 will add about $9 billion in costs, the government says.
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52 Articles
52 Articles
Prince George CitizenReposted by 
WellandTribune.ca
WellandTribune.caLiberals set to deliver highly anticipated federal budget today
·Prince George, Canada
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How much will the federal government lose and how will it make up for it? Two experts answered our questions.
·Montreal, Canada
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Watauga Democrat+21 Reposted by 21 other sources
Canada PM says first budget will help reduce reliance on US
Canadian Prime Minister Mark Carney's government presents its first budget on Tuesday, a spending plan he says will provide "the answer" for an economy starting to buckle under US tariffs.
·Calhoun, United States
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Coverage Details
Total News Sources52
Leaning Left23Leaning Right3Center2Last UpdatedBias Distribution82% Left
Bias Distribution
- 82% of the sources lean Left
82% Left
L 82%
11%
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