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Canada

Champagne says Thursday's budget will focus on affordability and Canada's economic independence

The federal budget, to be tabled Thursday, is positioned to address cost pressures and trade diversification, a shift that matters for businesses and governments planning around U.S. trade uncertainty.

Photo: The Globe and Mail

What happened

Finance Minister François-Philippe Champagne said Canada's second budget under the government will focus on affordability and cultural sovereignty while continuing efforts to make the economy more independent. The Globe and Mail Champagne said the budget is about giving Canada a strong footing to navigate a more volatile world and gaining leverage at many negotiating tables. collingwoodtoday.ca A senior government source said the budget will include new affordability measures, business tax incentives, and investments in infrastructure, defence and culture. CBC News Many big-ticket items were announced in recent weeks, including a Productivity Mega Deduction worth $36-billion over five years that expands immediate write-offs for eligible capital assets. The Globe and Mail The budget is set to be tabled on Thursday, November 5, 2026. collingwoodtoday.ca+1

Around it

Champagne also announced an extension of the federal gas tax cut until the end of March at a fiscal cost of about $2.9-billion, and a $2-billion program to provide rebates to homeowners who install electric heat pumps. The Globe and Mail Conservative Leader Pierre Poilievre said that job one for the budget is to save Canadians money. collingwoodtoday.ca An Abacus Data survey found that 63% of Canadians identify the rising cost of living as one of the country's three most important issues, and 59% name Trump and the United States as one of the two greatest threats facing the country. Abacus Data Few Canadians expect the budget to make their lives better, according to the same survey. Abacus Data

What comes next

The budget is scheduled to be tabled on Thursday, and the government is expected to provide more details about previous announcements, including plans for private investment in Canada's four biggest airports. CBC News

Sources

  1. The Globe and MailBudget will focus on affordability, cultural sovereignty, Champagne says
  2. collingwoodtoday.caBudget 2026 is about giving Canada a 'strong footing': Champagne
  3. CBC NewsCanada's next budget to be unveiled this week amid U.S. trade war, economic uncertainty
  4. Abacus DataBudget 2026: Affordability Tops Canadians' Concerns as Threats from Trump and AI Rise, But Few Expect the Budget to Make Their Lives Better

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