Budget 2026 is about ‘us,’ not the U.S. trade war, finance minister says

This article is new today!

Source: Global News Politics
Date: 2026-11-02 15:44:30.0
Tags: [National, Economy, Finance, Trade, Defence, Governance]

Finance Minister François-Philippe Champagne announced that the federal government's upcoming 2026 budget will focus primarily on domestic economic growth, industrial investment, trade diversification, and increased defence spending rather than the ongoing trade negotiations with the United States under President Donald Trump. Prime Minister Mark Carney and U.S. President Donald Trump recently indicated that talks regarding a mutually beneficial trade deal and concepts of an agreement are progressing. The sophomore budget, set to be unveiled on Thursday, aims to strengthen Canadian sovereignty and address affordability concerns amidst broader geopolitical tensions.

Canada's next budget to be unveiled this week amid U.S. trade war, economic uncertainty

This article is new today!

Source: CBC Politics
Date: 2026-11-02 09:00:00.0
Tags: [National, Economy, Taxation, Finance, Trade, Infrastructure, Defence, Housing, Culture]

Prime Minister Mark Carney's upcoming federal budget, set to be unveiled by Finance Minister François-Philippe Champagne under the title "Masters of Our Destiny" ("Maîtres Chez Nous"), will focus on affordability measures, business tax incentives, and strategic investments in infrastructure, defence, and culture. The fiscal plan addresses ongoing economic uncertainty and a U.S. trade war while factoring in a Parliamentary Budget Office projection that public debt charges will reach $83 billion by 2030-31. Stakeholders such as the Canadian Federation of Independent Business and the Council of Canadian Innovators are pressing for targeted tax relief, including reductions to small business corporate tax rates and technology sector capital gains incentives. Meanwhile, economists note that housing delivery under the Build Canada Homes initiative remains behind targets, with only about 2,000 of 19,000 committed affordable units currently under construction.

Budget 2026 title and theme focus on Canada’s sovereignty, minister reveals

Source: Global News Politics
Date: 2026-10-29 15:00:05.0
Tags: [National, Finance, Economy, Trade, Seniors, Governance]

National Revenue Minister François-Philippe Champagne announced that the federal government will table Budget 2026 on November 5, 2026, under the title and theme "MASTERS OF OUR DESTINY: BUDGET 2026" (inspired by Jean Lesage's 1962 Quebec slogan "Maîtres chez nous"). Prime Minister Mark Carney's government designed the upcoming budget to address a period of profound change and uncertainty involving redefined trade relationships, U.S. tariffs, trade tensions, and geopolitical conflicts threatening Canadian sovereignty and economic resilience.

Bank of Canada raises key interest rate to 2.5% in its first hike since 2023

Source: CBC Politics
Date: 2026-10-28 12:33:56.0
Tags: [National, Economy, Finance, Trade, Affordability]

The Bank of Canada, led by Governor Tiff Macklem, raised its benchmark overnight interest rate by 25 basis points to 2.5 per cent, marking its first rate hike since 2023. The central bank stated that the increase is necessary to curb persistent inflation—projected to remain above 3 per cent through much of 2027—which is driven largely by surging energy prices from the Middle East conflict and rising trade tensions with the United States. Policymakers warned that further rate hikes could occur depending on future economic uncertainties and cost pressures.

U.K. opts against joining Canada-led defence bank, pledges co-operation

Source: CBC Politics
Date: 2026-10-26 14:03:56.0
Tags: [National, Defence, Finance, Trade]

The British government has declined Ottawa's invitation to join the Canada-led international Defence, Security and Resilience Bank (DSRB), choosing instead to pursue its own Multilateral Defence Mechanism. Despite differing institutional paths, both countries agreed to establish a cooperation framework to coordinate investment opportunities and work together to meet NATO spending targets. The DSRB, which is headquartered in Canada and aims to lower military borrowing costs through pooled credit, currently retains the support of nations including Belgium, Turkey, and Ukraine.

Canada’s federal budget date revealed as trade war continues to bite

Source: Global News Politics
Date: 2026-10-20 18:55:54.0
Tags: [National, Economy, Finance, Trade]

Finance Minister Francois-Philippe Champagne announced that Prime Minister Mark Carney's second federal budget will be released on November 5, 2026, shifting the delivery schedule from spring to fall. The budget release follows a downward revision by the Parliamentary Budget Officer, projecting a gross domestic product growth of 0.9 per cent for 2026 and 1.5 per cent for 2027. Additionally, the PBO projected a budgetary deficit of $63.3 billion for the 2026-27 fiscal year, peaking at $70.2 billion the following year. These fiscal pressures come amid ongoing bilateral trade tensions involving U.S. President Donald Trump's enactment of 50 per cent tariffs on Canadian goods and Canada's retaliatory counter-tariffs.

Liberal government to table budget on Nov. 5

Source: CBC Politics
Date: 2026-10-20 18:50:43.0
Tags: [National, Economy, Finance, Trade, Governance]

Federal Finance Minister François-Philippe Champagne announced that the Liberal government under Prime Minister Mark Carney will table its federal budget on November 5, marking the second consecutive fall fiscal plan. The upcoming budget follows a spring economic update that projected a $65-billion deficit for the current fiscal year and comes amid a revised Parliamentary Budget Office outlook forecasting real GDP growth of 0.9 per cent for the year and a budgetary deficit peaking at $70.2 billion in 2027-28. The economic landscape is further defined by collapse in Canada-U.S. trade talks, reciprocal tariff implementations, and an annual inflation rate rising to 3.1 per cent in September primarily driven by fuel prices.

Budget watchdog trims economic forecast for 2026 and 2027 amid new U.S. tariffs

Source: CBC Politics
Date: 2026-10-20 16:30:17.0
Tags: [National, Economy, Trade, Finance]

Following the breakdown of Canada-U.S. trade talks in late August and the subsequent implementation of U.S. tariffs and Canadian counter-tariffs, Parliamentary Budget Officer Annette Ryan released a revised economic and fiscal outlook. The Parliamentary Budget Office (PBO) reduced its real gross domestic product growth forecast to 0.9 per cent for 2026 and 1.5 per cent for 2027, down from June projections of 1.1 per cent and 1.6 per cent respectively. Additionally, the federal budgetary deficit is now projected at $63.3 billion for the 2026-27 fiscal year, peaking at $70.2 billion in 2027-28, with deficits running $3 billion higher per year on average due to new spending measures offsetting revenues. The PBO also projects that the annual inflation rate will average 2.8 per cent in 2026 before easing to 2.4 per cent in 2027, while anticipating that the Bank of Canada will raise its policy rate to 2.75 per cent by mid-2027.

Market diversification added to focus of renewed Atlantic Fisheries Fund

Source: Prince Edward Island - Regional News
Date: 2026-10-15 20:43:09.0
Tags: [National, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Trade, Fisheries, Industry, Finance]

The federal government and the Atlantic provincial governments are replenishing the Atlantic Fisheries Fund with more than $300 million over the next five years, funded 60 per cent federally and 40 per cent provincially, in response to ongoing trade disputes and tariffs with the U.S. Federal Fisheries Minister Joanne Thompson announced that market diversification has been added as a new funding pillar alongside innovation, infrastructure, and science partnerships to assist harvesters and processors such as Cooke Inc., the P.E.I. Fishermen’s Association, Scotia Harvest, and Icewater Seafoods in entering new international markets. Over the past nine years, the fund has previously distributed $370 million to more than 1,300 projects across Atlantic Canada.

In Unreliable Boyfriend, Chrystia Freeland details the rift between her and Trudeau

Source: CBC Politics
Date: 2026-10-15 08:00:00.0
Tags: [National, Governance, Finance, Trade]

In her book excerpts detailing her political tenure, former Deputy Prime Minister and Finance Minister Chrystia Freeland reveals the breakdown of her relationship with Prime Minister Justin Trudeau, culminating in her December 2024 resignation via a Zoom call. Freeland recounts key policy milestones and conflicts, including managing NAFTA and CUSMA trade negotiations with the United States, implementing retaliatory tariffs on steel and aluminum, and addressing over $12 billion in federal spending cuts. Following her resignation and subsequent departure as a Member of Parliament, Mark Carney assumed the role of Finance Minister and later became Prime Minister.

Canada pledges $100M for Palestine at United Nations General Assembly

Source: CBC Politics
Date: 2026-09-22 21:12:38.0
Tags: [National, Trade, Foreign Affairs, Finance]

Prime Minister Mark Carney announced at the United Nations General Assembly that Canada is pledging $100 million in new aid for Palestine, consisting of $80 million in humanitarian aid and development funding for security initiatives such as West Bank police training. This funding brings Ottawa's total aid to Palestinian civilians to over $600 million since the Israel-Hamas war began in October 2023. Additionally, Canada recently joined France and the United Kingdom in banning imports of goods from West Bank settlements to protest actions like Israel's planned E1 settlement, which critics say would split the West Bank in two.

Canada and the U.K. consider merging financial initiatives to rearm against Russia

Source: CBC Politics
Date: 2026-09-21 18:10:23.0
Tags: [National, Defence, Finance, Trade, Governance]

Canadian and British officials are considering merging Canada's proposed Defence, Security and Resilience Bank (DSRB) and the United Kingdom's Multilateral Defence Mechanism ahead of their scheduled 2027 launches to help allies rearm against Russia and other international threats. Prime Minister Mark Carney and British Prime Minister Andy Burnham discussed the potential consolidation during a bilateral meeting in Liverpool, as Canada seeks a major financial player to ensure adequate lending capacity for defence companies to scale up production. To date, Canada has signed up Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey, and Ukraine to the DSRB, while the United Kingdom has secured the Netherlands, Finland, and Poland for its competing financing framework.

Head of European Investment Bank eyes Canada opportunities as Carney pushes EU ties

Source: CBC Politics
Date: 2026-09-20 17:22:05.0
Tags: [National, Finance, Trade, Economy, Energy, Mining]

European Investment Bank President Nadia Calviño stated that the bank is exploring a framework agreement to finance Canadian projects, targeting critical minerals, new technologies, and green energy generation amid Prime Minister Mark Carney's push for deeper European Union ties. While U.S. President Donald Trump criticized the closer Canada-EU alignment and threatened tariffs, Canadian officials confirmed Canada will not pay directly into the 27-nation EU budget under the proposed associate membership framework. The initiative follows Carney's Canada Investment Summit, which federal officials report attracted nearly $500 billion in new investment into Canadian businesses and infrastructure.

Canada won't pay directly into EU budget under Carney's plan: ambassador-designate

Source: CBC Politics
Date: 2026-09-19 08:00:00.0
Tags: [National, Trade, Defence, Technology, Finance, Governance]

Incoming EU Ambassador-Designate Jonathan Wilkinson announced that Canada will not pay directly into the European Union budget under Prime Minister Mark Carney's proposed "unique alliance." However, Canada may contribute funding to specific strategic programs, such as the EU's Security Action for Europe (SAFE) defence loan program, Horizon research initiatives, and Erasmus+ student exchanges. Carney formally outlined his vision for the partnership before the European Parliament, aiming for seamless digital trade, critical mineral investments, and AI safety protocols, while facing skepticism from some European politicians and tariff threats from U.S. President Donald Trump.

Carney government introduces mega-deduction tax measure to spur more investment

Source: CBC Politics
Date: 2026-09-15 19:41:51.0
Tags: [National, Taxation, Economy, Finance, Industry, Trade]

Prime Minister Mark Carney's federal government announced the productivity mega-deduction tax measure at the Canada Investment Summit, expanding on last year's productivity super-deduction to cover two-thirds of assets. The program allows companies to expense the total cost of new investments across sectors including machinery, equipment, clean energy, and zero-emission vehicles immediately rather than over a project's lifetime. The policy change is projected to cost $36 billion over five years and is estimated to slash Canada's marginal effective tax rate from 13 per cent down to 6.4 per cent, making it the lowest in the G7 to improve tax competitiveness and retain investment during trade tensions.

Carney delivers remarks at investment summit as Liberals discuss airport privatization

Source: CBC Politics
Date: 2026-09-15 12:31:10.0
Tags: [National, Ontario, Economy, Finance, Trade, Infrastructure, Transportation]

Prime Minister Mark Carney hosted the Canada Investment Summit in Toronto to attract $1 trillion in investments over the next five years, featuring a 66-page prospectus containing 167 projects. During the summit, the Canada Pension Plan Investment Board and Brookfield Asset Management Ltd. announced a new $50 billion fund for large-scale investments structured on a 50-50 basis with up to $25 billion in equity capital from each organization. Additionally, Carney confirmed that the federal government is pursuing private investment and long-term concessions to operate Canada's four largest airports while keeping the underlying land and assets. These developments coincided with the implementation of new 50 per cent U.S. tariffs on select Canadian goods and protests organized by The Many vs. The Money coalition.

'Cool to be Canadian': Leaders optimistic their pitch to invest here will pay off

Source: CBC Politics
Date: 2026-09-14 19:59:47.0
Tags: [National, Ontario, Economy, Taxation, Finance, Trade, Industry, Mining]

Prime Minister Mark Carney hosted the Canada Investment Summit in Toronto to attract foreign capital and secure $1 trillion in investments amidst trade friction with the United States. Minister of Finance François-Philippe Champagne announced that the Canadian Revenue Agency will prioritize advanced income tax rulings for investments exceeding $1 billion to reduce regulatory risk. The government's 66-page pitchbook featured more than 160 major projects, including Canada Nickel Company's Crawford nickel project, which is seeking $2 billion in funding.

Carney is seeking trillions in investment at this week's summit. What will it take to land major deals?

Source: CBC Politics
Date: 2026-09-14 08:00:00.0
Tags: [National, Economy, Finance, Trade, Infrastructure, Energy]

Prime Minister Mark Carney is hosting the Canada Investment Summit in Toronto to secure up to $1 trillion in foreign direct investment across 167 major projects presented in a 66-page federal prospectus. The high-profile event brings together global financial leaders—including BlackRock Inc. chairman Larry Fink, Temasek CEO Dilhan Pillay, and representatives from sovereign wealth funds like Norway's government pension fund and Abu Dhabi National Oil Co.—to counter pressures from an escalating Canada-U.S. trade war. The projects span eight critical sectors, led by significant developments such as a proposed $35-billion oil pipeline from Alberta to British Columbia, a roughly $79-billion expansion of the Port of Churchill in Manitoba, and the $28.5-billion Ksi Lisims liquid natural gas terminal on the B.C. coast. While economic think tanks like the C.D. Howe Institute and financial institutions like TD Bank project a potential investment supercycle that could boost real output per capita, the initiative faces domestic political criticism regarding national sovereignty and foreign ownership of strategic resources.

Trump trade rep says U.S. may impose more tariffs today, as Ottawa's counter-tariffs take effect

Source: CBC Politics
Date: 2026-09-08 11:27:19.0
Tags: [National, Trade, Economy, Industry, Finance]

Canada implemented dollar-for-dollar counter-tariffs ranging from 15 to 50 percent targeting $27.6 billion worth of American imports, while the United States considers further retaliatory tariffs. U.S. Trade Representative Jamieson Greer signaled potential U.S. actions, and U.S. President Donald Trump criticized Montreal-based Bombardier over manufacturing locations. Prime Minister Mark Carney defended the pivot away from the U.S. as costly but necessary, alongside federal support packages including a $7.5 billion worker and business assistance initiative and the $2 billion Canada Strong Diversification Fund.

No talks scheduled as Canada's counter-tariffs against U.S. set to take effect at 12:01 a.m.

Source: CBC Politics
Date: 2026-09-07 15:23:27.0
Tags: [National, Trade, Economy, Industry, Finance]

Canada is implementing counter-tariffs ranging from 15 to 50 percent on $27.6 billion worth of American goods targeting over 700 U.S. products, including steel, dairy, and wood products, with no last-minute talks scheduled between Prime Minister Mark Carney and U.S. President Donald Trump ahead of the 12:01 a.m. deadline. The retaliatory measures follow the collapse of trade talks and U.S. President Donald Trump's imposition of 50 percent tariffs on Canadian goods. To help workers and businesses weather the trade escalation, the federal government is rolling out a $7.5 billion support package in addition to nearly $25 billion in tariff aid implemented over the past 18 months.