Overview
- The plan will be tabled Tuesday in a minority Parliament and is pitched as an economic reset to build defence, infrastructure and critical‑minerals capacity to reduce reliance on the United States.
- Ottawa will split finances into capital and operating streams, with a pledge to balance the operating side within three years while borrowing to fund long‑lived investments.
- Independent analysts expect a much larger deficit than last year’s projection, with forecasts in the $75–$100 billion range.
- Ministers have been directed to find deep program savings of about 7.5% next year, moving toward 15% by 2028–29, and unions warn this could mean roughly 70,000 public‑service job losses.
- Defence outlays will jump, including $9 billion by March and a path to meet NATO commitments, as Carney says he is ready to fight an election if the budget is defeated.