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Canada

Carney government tables Budget 2026 with sovereignty and spending focus

The federal budget's tax breaks, spending increases and deficit outlook shape business and government planning in the months ahead.

Photo: The Niagara Independent

What happened

The Carney government tabled its second federal budget, titled Masters of Our Destiny, on November 5. Yahoo News The budget aims to strengthen Canada's sovereignty and make Canadians masters of their own destiny. Government of Canada+1 The budget offers tax breaks on private investment and capital gains, along with write-offs on capital purchases such as equipment. Yahoo News Program spending rose by more than $14 billion this fiscal year, and the deficit is still above $60 billion. The Niagara Independent The budget includes funding for housing and a commitment to end homelessness within 10 years. Yahoo News

Around it

Opposition leaders have criticized the budget for increasing debt, failing to address Quebec's needs, and giving tax breaks to businesses. The Ubyssey In an Abacus Data survey of 1,500 Canadians taken after the budget was released, 17 per cent described it as good news and 20 per cent as bad news. davidcoletto.substack.com Spending on Old Age Security is set to rise to nearly $90 billion, and by 2030 14 per cent of the federal budget is projected to go to debt interest payments. The Niagara Independent

Sources

  1. Government of CanadaParliamentary Secretary David Myles highlights Government of Canada’s investments from Budget 2026: Masters of our destiny to support Canadian culture, strengthen creative industries, and improve access to arts and heritage across the country
  2. The UbysseyA guide to 500+ pages of Canada's budget
  3. Yahoo NewsWho does Budget 2026 help? Not the 1 in 3 Canadians skipping meals to cope with grocery costs
  4. The Niagara IndependentDramatic reform was needed, but not found, in Carney’s federal budget
  5. davidcoletto.substack.comCanadians Like What’s in Budget 2026. They’re Less Convinced It Will Make Their Lives Better.

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