Federal government to present first budget under Prime Minister Carney

The federal Liberals are set to table their long-awaited budget today, marking the government’s first fiscal plan in nearly a year and the first under Prime Minister Mark Carney’s leadership.

Government House Leader Steven MacKinnon told MPs on Monday that the budget will focus on affordability, promising measures to lower taxes and expand opportunities for young Canadians. He said the plan is designed to make Canadians “proud” while keeping fiscal discipline in mind.

Finance Minister François-Philippe Champagne described the upcoming budget as one that will deliver “generational investments” and include benefits for Canadians across the country. The fiscal update is expected to outline key spending priorities from the Liberals’ spring election platform and signal how the new government intends to manage economic challenges heading into 2026.

Observers are watching for details on job creation, housing affordability, and climate transition programs—issues that have dominated public debate since the election.