#GLOBALNEWS Canada budget 2025: Carney’s “generational budget” brings nearly $80 billion deficit
Canada budget 2025: Carney’s “generational budget” brings nearly $80 billion deficit
The government’s 2025 budget, unveiled by Finance Minister François-Philippe Champagne on Tuesday, sets out an agenda of $141.4 billion in new spending offset by $51.7 billion in projected savings over the next five years, with the deficit projected at $78.3 billion this year.
In an interview with Global News’ Dawna Friesen, former parliamentary budget officer Kevin Page said Ottawa’s new fiscal plan represents a bold shift toward investment-led growth.
He warned, however, that the biggest challenge will be implementation, as higher deficits and debt-to-GDP levels test the government’s capacity to deliver.
Page said the strategy is meant to stimulate private sector investment amid a weak economy growing at less than one per cent.
He also cautioned that reducing immigration levels could slow labour force expansion and economic recovery.
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