Key Points About PM Mark Carney's First Federal Budget
The first federal budget of Prime Minister Mark Carney is expected to be bold and ambitious, with significant costs.
The previous fall economic statement in December 2024 projected a $48.3 billion deficit for 2024-25, with a goal to reduce it to $23 billion by 2029-30.
However, Carney's government may not follow this path, as they aim 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”
This budget will also serve as a confidence vote for the minority Liberal government.
Author's summary: PM Mark Carney's first budget is expected to be bold and costly.
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