Federal budget includes more than $90B in spending

It’s a fiscal plan that includes almost $90 billion in net new spending over the next five years to navigate a moment of profound change.

Finance Minister Francois-Philippe Champagne says it’s time to build as profound economic changes – like Donald Trump’s tariff policies – are transforming the world.

“This budget must be generational in its ambition and serve to shape our economy and our nation’s future,” Champagne said.

The budget aims to boost productivity and fund large infrastructure projects while Champagne promises it could spur $1 trillion worth of investment.

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It includes:

• $280 billion over five years in capital spending;
• $115 billion for infrastructure projects;
• $110 billion for economic productivity and competitiveness programs;
• $81.8 billion to rebuild the Canadian military; and
• $25 billion for home building.

It’s all coming with a big deficit attached — a whopping $78.3 billion — roughly double the estimates given last year, but in line with recent forecasts of around $70 billion.

Champagne defended the decision to not balance the budget.

“To balance the budget this year would have to eliminate vital social programs and all the capital investments needed,” he said.

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