Carney's first budget doubles Canada's deficit in attempt to counter US trade rift
Update: 2025-11-04
Description
Canada's Prime Minister Mark Carney unveils a budget proposal with a massive deficit increase, allocating billions to counter US tariffs, boost defense, and diversify trade. The budget is a critical test for Carney's minority government, relying on support from the New Democratic Party. The government plans to invest over $280 billion in infrastructure, defense, housing, and productivity initiatives, but this will significantly increase the deficit to $78.3 billion in the 2025-2026 fiscal year.
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