Overview
- The fiscal plan will be tabled on Nov. 4 in a minority Parliament where a failed budget vote would trigger a national election.
- Government House Leader Steven MacKinnon says the Liberals do not yet have the votes, and Carney needs three opposition MPs to pass it.
- Carney says he is 100 per cent confident in the plan and calls it “not a game,” outlining generational investments and a three‑year path to balance on the operating account alongside mandated program cuts rising from 7.5% to 15%.
- The budget is expected to advance a major defence buildup after a pledge to move toward roughly 5% of GDP within a decade, pointing to costly long‑term procurements.
- Carney confirms he apologized to U.S. President Donald Trump over an Ontario anti‑tariff ad that disrupted trade talks, acknowledging the diplomatic fallout.