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What to watch for as Carney introduces his 2nd federal budget
Prime Minister Mark Carney will deliver his second federal budget on Thursday, with affordability and the trade war in focus.
Key points
- Canada's unemployment rate is lower than a year ago, after relatively wild swings amid trade uncertainty.
- The budget may include details on how individual investors could buy into the Canada Strong Fund, a new Crown-controlled sovereign wealth
- National average home sale prices are 22 per cent below the March 2022 peak, while rent has dropped about nine per cent from its May 2024
Why it matters. The budget's affordability and immigration measures could shape household costs and voter support, since the cost of living remains the top issue for many voters in polls.
Prime Minister Mark Carney will deliver his second federal budget on Thursday, with Finance Minister François-Philippe Champagne promising details on growth and sovereignty. The Bank of Canada and the International Monetary Fund project roughly two per cent GDP growth next year, while the OECD expects growth to be lower. Average hourly wages rose about 2.3 per cent year-over-year as of September, short of the three per cent climb in consumer prices.
Latest updates
What to watch for as Carney introduces his 2nd federal budget
Prime Minister Mark Carney will deliver his second federal budget on Thursday as the Liberal government reveals next steps in its plan to support the country through an affordability crunch and the trade war. Prime Minister Mark Carney will deliver his second federal budget on Thursday as the Liberal government reveals next steps in its plan to support the country through an affordability crunch and the trade war. Carney has spent much of the first 20 months of his prime ministership retooling the Canadian economy with an eye toward growth. Finance Minister François-Philippe Champagne is promising more details on what's to come next to further boost economic expansion. Speaking to reporters on Wednesday while helping make his own shoes — continuing the budget tradition of finance ministers getting a new pair before delivering an economic update — Champagne said this document will reveal how Canada will become "masters of our destiny." "You need to invest in growth, you need to invest alongside businesses. You also need to invest in sovereignty," he said. Champagne holds up a boot during a tour of the Pajar shoe factory in Montreal on the eve of the budget. (Graham Hughes/The Canadian Press) Some indicators suggest those investments are paying off: the Bank of Canada and the International Monetary Fund are projecting roughly two per cent GDP growth next year. The OECD expects gr.