Overview
- Budget 2025 lays out nearly C$90 billion in net new spending over five years, projects a C$78.3‑billion deficit for 2025/26 and holds debt near 43 percent of GDP, paired with roughly C$60 billion in internal savings including cutting about 40,000 public service positions from a 2024 peak.
- Carney says the package could catalyze about C$1 trillion in combined investment by 2030 and even understates potential impact, while Bank of Canada Governor Tiff Macklem stresses that faster approvals and lighter regulatory burdens are critical to attract capital.
- The minority Liberals gained Conservative MP Chris d’Entremont through a floor crossing and now sit two votes or abstentions short of a working majority ahead of a confidence vote expected after Nov. 17.
- Sector details include a 10‑year local infrastructure fund touted at C$51 billion that analysts say is largely repurposed money, a tone shift supporting oil and gas via Canada Infrastructure Bank eligibility, and unresolved conditions around a possible emissions‑cap change.
- Targeted measures feature about C$1.6 billion over three years for youth jobs and training, while Indigenous leaders condemn a freeze to base funding for health, social services and treaty work as an effective cut with no clear path to close education and health gaps.