Key Points About PM Mark Carney's First Federal Budget
PM Mark Carney's first federal budget is expected to be bold and ambitious, with significant costs. The budget will also serve as a confidence vote in the minority Liberal government.
The last update on Ottawa's finances was in the fall economic statement of December 2024, which projected a $48.3 billion deficit for 2024-25. However, Carney's government has hinted that it may not follow the previously suggested path of reducing the deficit to $23 billion by 2029-30.
Carney has promised that his budget will "meet this moment",
with a focus on reducing Canada's reliance on the United States amidst a trade war. The budget's specifics and costs are yet to be announced.
Author's summary: PM Mark Carney's budget promises bold changes.
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