Key Points about PM Mark Carney's First Federal Budget
Prime Minister Mark Carney's first federal budget is expected to be bold and ambitious, meeting the current moment, but potentially at a high cost.
The last update on Ottawa's finances was in the December 2024 fall economic statement, which projected a $48.3 billion deficit for 2024-25, aiming to reduce it to $23 billion by 2029-30.
Carney's government, which campaigned on reducing reliance on the United States amidst a trade war, may not follow the previously suggested path to reduce the deficit.
Carney has promised that his first budget will be bold, ambitious, and “meet this moment”
This budget will also serve as an automatic confidence vote in the minority Liberal government.
Author's summary: PM Mark Carney's first budget promises bold changes.