Key Points About PM Mark Carney's First Federal Budget
The first federal budget of Prime Minister Mark Carney is anticipated to be bold and ambitious, with significant potential costs.
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, aiming to reduce it to $23 billion by 2029-30.
Carney's government, which aims to reduce reliance on the United States amidst a trade war, may not follow the previously suggested path of deficit reduction.
Carney has promised that his first budget will be bold, ambitious, and “meet this moment”
This budget will also serve as a confidence vote for the minority Liberal government.
Author's Summary
PM Mark Carney's first budget promises to be bold and costly.
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