Entitled ‘Canada Strong’ the 2025 budget envisions significant new defence spending, a reduction of the civil service and ‘generational investments’
A protracted trade war with the United States and a weakening domestic economy has forced Mark Carney to run a deficit tens of billions larger than initially forecast in his first-ever federal budget.
The spending plan, titled “Canada Strong” envisions significant new defence spending, a reduction of the country’s civil service and “generational investments” that would reshape the nature of the country’s economy.
“The world is undergoing a series of fundamental shifts at a speed, scale, and scope not seen since the fall of the Berlin Wall,” the opening pages of the budget say. “This is not a transition. It is a rupture – a generational shift taking place over a short period of time.”
Prior to unveiling his economic vision for the country, Carney had repeatedly stressed the need for Canada to seek out new markets as trade with the US stagnates, large corporations flee and tariffs batter key industries.
