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Federal Budget 2025: What It Means for Your Money

The 2025 federal budget introduces a mix of tax cuts, housing measures, and spending shifts that will directly affect Canadians’ day-to-day finances. While the government projects a significant deficit, the plan focuses on affordability and long-term growth. Here are eight key ways it impacts your wallet: 1. Lower Income Taxes The lowest federal tax bracket will be reduced from 15% to 14% starting mid-2025, giving middle-income earners some relief. 2. Vacant Home Measures The Underused Housing Tax will be expanded to discourage vacant and underutilized properties, aiming to free up more housing supply. 3. Student Loan Relief Repayment assistance will be enhanced, with lower income thresholds and capped monthly payments to ease the burden on graduates. 4. Consumer Protection New rules will cut down on excessive banking fees and strengthen protections for financial consumers, especially those with modest incomes. 5. Housing Affordability Programs Funding will support first-...
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Carney and Champagne Launch Post-Budget Tour in Ottawa and Montreal

Prime Minister Mark Carney and Minister of Finance and National Revenue Francois-Philippe Champagne make their way into the House of Commons for the tabling of the federal budget on Parliament Hill in Ottawa, on Tuesday, Nov. 4, 2025.

Prime Minister Mark Carney and Finance Minister François-Philippe Champagne are hitting the road today to promote the federal government’s newly tabled budget, beginning with events in Ottawa and Montreal.

Carney is scheduled to host a post-budget event in Ottawa this morning, where he will outline the government’s priorities before joining the Liberal caucus for its first meeting since Nova Scotia MP Chris d’Entremont crossed the floor to join the party.

Meanwhile, Champagne will take the government’s message to Montreal, where he is set to participate in an armchair discussion with business leaders. The finance minister is expected to highlight what he has described as “generational investments” aimed at strengthening Canada’s economy, creating high-paying jobs, and supporting workers most affected by global trade disruptions.

The 2025 budget, Carney’s first as prime minister, projects a $78.3-billion deficit while pledging billions in new spending on infrastructure, innovation, and workforce development. The government argues these measures are necessary to secure long-term growth, even as it faces criticism over the scale of the deficit and planned cuts to the federal public service.

Today’s events mark the beginning of what is expected to be an intensive post-budget sales campaign, as the Liberals seek to convince both Canadians and opposition parties of the merits of their fiscal strategy.


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