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Carney Government Sets Nov. 4 Date for First Federal Budget
Minister of Finance and National Revenue Francois Philippe Champagne speaks to the media, at the Liberal cabinet retreat, in Toronto, on Thursday, Sept. 4, 2025.
The Liberal government will present its first federal budget under Prime Minister Mark Carney on November 4, Finance Minister François‑Philippe Champagne announced during question period in the House of Commons.
The fall budget marks a departure from the traditional spring release, delayed in part due to the April federal election. Champagne described the upcoming plan as a “generational investment” aimed at building the economy, protecting communities, and empowering Canadians.
Prime Minister Carney has signalled that the budget will balance cost‑cutting measures with targeted investments, as Ottawa seeks to safeguard Canada’s economy from potential U.S. trade disruptions. The government has already committed billions in new spending on defence and infrastructure since taking office.
With the Liberals holding a minority, the budget will require support from at least one other party to pass in the fall session of Parliament.
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