Liberals will table the federal budget on Nov. 4, Champagne says

CITYnews halifax / By Craig Lord, The Canadian Press

Finance Minister François-Philippe Champagne says the Liberals will table the federal budget on Nov. 4.

The long-awaited spending plan will be the federal Liberals’ first under Prime Minister Mark Carney.

It will also be the first budget as finance minister for Champagne, who announced the date during question period Tuesday.

He billed the plan as a “generational investment” in Canada’s future.

“We’re going to present a great budget in this house on the fourth of November, mister speaker,” he said.

“We’re going to build this country, mister speaker, we’re going to protect our communities, we’re going to empower Canadians.”

Carney has billed the budget as one of both cost-cutting and investment as Ottawa looks to protect Canada’s economy against U.S. trade disruption.

The federal budget typically arrives in the spring but the Liberals delayed it until the fall.

The minority Liberal government will need support from at least one other party to pass the budget in the fall session of Parliament.

Carney has announced a series of big-ticket spending items since the spring election, including billions of dollars in new spending on defence and infrastructure.

The federal government also cut personal tax rates in the lowest tax bracket by a percentage point as of July and has announced an expenditure review to trim day-to-day spending across the public service.

Many fiscal observers are expecting the federal deficit to balloon in the fall budget. Carney has pledged to balance the operating side of the budget within three years even as capital spending is expected to grow.

Minister of Finance and National Revenue Francois Philippe Champagne speaks to the media, at the Liberal cabinet retreat, in Toronto, on Thursday, Sept. 4, 2025. THE CANADIAN PRESS/Chris Young