Key Points About PM Mark Carney's First Federal Budget
The first federal budget presented by Prime Minister Mark Carney is anticipated to be bold and ambitious, addressing current challenges.
The budget also serves as a confidence vote for the minority Liberal government. In the previous fall economic statement of December 2024, Ottawa 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.
However, Carney's government has hinted that it may not follow this path, especially given its promise to reduce reliance on the United States amidst a trade war.
Carney has promised that his first budget will be bold, ambitious, and “meet this moment”
- Projected deficit for 2024-25: $48.3 billion
- Planned deficit reduction by 2029-30: about $23 billion
Author's summary: PM Mark Carney's budget aims to address current challenges.
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