Key Points About PM Mark Carney's First Federal Budget
The first federal budget of Prime Minister Mark Carney is expected to be bold and ambitious, potentially coming with a high cost.
The last update on Ottawa's finances was in the fall economic statement of December 2024, which projected a $48.3 billion deficit for 2024-25, aiming to reduce it to about $23 billion by 2029-30.
Carney's government has indicated it may not follow this path, as it aims to reduce reliance on Canada's neighbors, particularly amid a trade war with the United States.
This budget will also serve as a confidence vote in the minority Liberal government.
Carney has promised that his first budget will be bold, ambitious, and “meet this moment”
Author's summary: PM Mark Carney's first budget to be bold and costly.
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