Canada's Mark Carney government begins preparations for its first federal budget

Canada's Mark Carney government has begun preparations for its first federal budget, to be presented in the fall. The government said the budget 2025 will focus on boosting private investment and building the strongest economy in the G7.

Finance Minister François-Philippe Champagne has launched pre-budget consultations today. The federal government said Canadians can also participate by visiting the Canada.ca/YourBudget website until August 28, 2025, to share their views on key issues.

The government's main focus in the budget will be to eliminate the GST for new homes up to $1 million and provide relief to the middle class. The budget will also unveil nation-building projects. In the coming weeks, the Finance Minister, along with Secretary of State Wayne Long and Parliamentary Secretary Ryan Turnbull, will also meet with business and government representatives from across the country for pre-budget consultations.