Liberals aren’t planning to table a budget this year, finance minister says

The Canadian government, under Prime Minister Mark Carney, is facing several challenges as it begins its new term following last month’s election. Finance Minister François-Philippe Champagne has outlined the government’s priorities for the upcoming months, with a focus on implementing key campaign promises and addressing pressing issues such as the U.S. trade war.

One of the government’s top priorities is passing legislation to implement a promised tax cut, which Carney has pledged will be in place by Canada Day. Champagne emphasized that the government is taking a step-by-step approach, with the tax cut and throne speech being the immediate focus before the House rises for the summer recess.

While the government will not be tabling a budget this spring, Champagne assured that the fiscal plan will be outlined in a fall economic statement, which is typically provided each year. The finance minister did not provide a specific timeline for the economic update but indicated that it would be tabled in the fall. The last fall economic statement was presented in mid-December.

Despite not presenting a budget this spring, MPs will still need to pass supplementary estimates to secure additional funding for initiatives that have not been funded or require extra funding. Governments are required to table supplementary estimates three times a year while the House is sitting, with the next deadline being in June.

The House of Commons is scheduled to return next week, with the throne speech set to be delivered on Tuesday. The government is committed to addressing its priorities and fulfilling its promises to Canadians in the coming months. Stay tuned for updates on the government’s economic plans and legislative agenda.