Finance Minister François-Philippe Champagne has indicated that the Liberal government will not table a budget this year. Instead, the government plans to prioritize other legislative matters before the House of Commons rises in June. Champagne stated that the government’s immediate focus is on passing legislation to implement a promised tax cut by Canada Day.
“Canadians have seen the priorities we outlined during the campaign. Those priorities are not going to be different,” he said. The finance minister assured that while a budget will not be presented this spring, an economic update will be provided in the fall.
This update will serve as a mini-budget, offering a clearer picture of the government’s fiscal outlook. Champagne emphasized that the fall economic statement would be “substantive” and delivered only when uncertainties diminish, allowing for a more accurate financial projection.
Government budget decision announced
Opposition Leader Pierre Poilievre criticized the government’s decision, calling it “unacceptable” and evidence of the government’s failure to provide competent leadership. Poilievre accused Prime Minister Mark Carney of failing to meet the expectations of Canadians who were promised clarity and serious governance. During the recent federal election, one of Carney’s key slogans was “a plan beats no plan.” Poilievre stressed that the absence of a budget contradicts that pledge and demonstrates a lack of planning.
Although no official budget will be tabled, MPs are still required to pass the main and supplementary estimates to ensure funding for government initiatives. The main estimates, typically tabled in March, have been delayed, and the next deadline for supplementary estimates is in June. The House of Commons is scheduled to return on Monday, May 26, with the throne speech to be delivered the following day.
This marks the first time since the onset of the COVID-19 pandemic in 2020 that the government has opted not to table a budget. Prime Minister Carney, who recently took office, faces a series of challenges, including addressing the ongoing U.S. trade war and fulfilling key campaign promises.
