Overview

• Prime Minister Mark Carney’s first budget is set for Nov. 4 under the new schedule.
• Finance Canada will shift the economic and fiscal update to the spring rather than releasing a full fall budget.
• The capital budgeting framework will present operating and capital spending separately, defining capital broadly to include direct outlays and tax measures that spur investment by the public or private sector, Indigenous communities, or other governments.
• Officials say the timing change is meant to provide clearer lead time for provinces, municipalities, businesses and program partners, and to help MPs review more complete main estimates.
• The government says the framework augments existing reporting and preserves the traditional budget balance presentation, as economists scrutinize how expanded capital plans align with rising deficit projections.