Canada: Finance Minister Champagne to Table Federal Budget on November 5, Featuring Affordability Measures and a Productivity Mega-Deduction
Finance Minister François-Philippe Champagne is scheduled to table the federal government's second budget under Prime Minister Mark Carney in the House of Commons on November 5. The Prime Minister's itinerary shows Carney chairing a cabinet meeting at 9:00 a.m., attending Question Period at 2:15 p.m., meeting Champagne at 3:40 p.m. and attending the tabling of Budget 2026 at 4:00 p.m.
The document, titled "Masters of Our Destiny", is about changing Canada's growth model, Champagne has said, with a focus on unlocking private investment, raising productivity and diversifying trade away from heavy reliance on the United States. A senior government source has said the budget will include new affordability measures, business tax incentives and investments in infrastructure, defence and culture. One major measure already announced is the productivity mega-deduction, which the government has said will allow immediate expensing of roughly two-thirds of capital investment.
The Parliamentary Budget Officer has projected higher deficits than the government forecast in its spring update, estimating an overall federal deficit of approximately C$63.3 billion for the 2026-27 fiscal year, increasing to C$70.2 billion in 2027-28; the spring update had projected a $65.3 billion deficit for 2026-27. The tabling comes as Canada continues to face 50 percent US tariffs on a range of goods after trade talks broke down in August; Carney and US President Donald Trump have both recently described progress toward a trade agreement, but no final text has been released. The government holds a majority in the House of Commons, so the budget is expected to pass.
Source: 加拿大财政部
Published by GSM · USA (original Chinese edition)
Photo: 照片：自渥太华河望向加拿大国会山（渥太华），Óðinn 摄，Wikimedia Commons，CC BY-SA 2.5 ca 授权 / Photo: Parliament Hill in Ottawa, Canada, seen from the Ottawa River, by Óðinn, Wikimedia Commons, CC BY-SA 2.5 ca
