Finance Minister François-Philippe Champagne says the Liberal government will table the 2026 federal budget on Nov. 5.
The Story
Finance Minister François-Philippe Champagne says the Liberal government will table its 2026 federal budget on Nov. 5.
The budget will be the second fiscal plan delivered under Prime Minister Mark Carney.
Champagne said the upcoming budget comes as Canada’s economy faces sharp headwinds from U.S. tariffs and other geopolitical forces. Canada showed some resilience in the second quarter, but growth is under fresh pressure following the collapse of trade talks with the United States in August.
The parliamentary budget officer expects federal deficits to average $3 billion higher each year over the next five years than the office projected in June. The officer also said higher gas prices tied to war in the Middle East have lifted federal revenues in the near term, which is expected to lower the deficit for the current fiscal year.
Since taking office, Carney has attempted to reorient federal spending away from the day-to-day operations of government and instead focus borrowing on an aggressive infrastructure agenda.
← More stories