Carney's 1st budget calls for billions in new spending to prop up tariff-hit economy
Posted: Tue Nov 04, 2025 1:23 pm
Federal budget includes $141B in new spending — offset by cuts and savings as Ottawa slashes the bureaucracy
$141 billion more over the next five years — offset by $51.2 billion in cuts and savings.
A $78-billion deficit this fiscal year — lower than some economists had expected.
Slashes in bureaucracy by nearly 40,000 jobs through buyouts, attrition.
$51 billion for infrastructure to spur development.
Major projects like high-speed rail, new ports, carbon capture and storage face likely approval in the coming months.
An $81-billion funding package for the Canadian Armed Forces — including a Buy Canadian procurement plan.
Immigration getting slashed — with temporary residents like students and foreign workers to be cut by nearly 50 per cent.
The previously proposed emissions cap could be scrapped.
$141 billion more over the next five years — offset by $51.2 billion in cuts and savings.
A $78-billion deficit this fiscal year — lower than some economists had expected.
Slashes in bureaucracy by nearly 40,000 jobs through buyouts, attrition.
$51 billion for infrastructure to spur development.
Major projects like high-speed rail, new ports, carbon capture and storage face likely approval in the coming months.
An $81-billion funding package for the Canadian Armed Forces — including a Buy Canadian procurement plan.
Immigration getting slashed — with temporary residents like students and foreign workers to be cut by nearly 50 per cent.
The previously proposed emissions cap could be scrapped.