Key Points About PM Mark Carney's First Federal Budget
The first federal budget by Prime Minister Mark Carney is anticipated to be bold and ambitious, potentially coming with significant costs.
The last financial update was provided in the fall economic statement of December 2024, which projected a $48.3 billion deficit for 2024-25, aiming to reduce it to about $23 billion by the end of the 2029-30 fiscal year.
Carney's government, which came into office during a trade war with the United States, has indicated it may not follow the previously suggested path of reducing 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 to be bold and costly.
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