Mark Carney, Canada’s Prime Minister, confirmed Sunday that the federal budget is scheduled for autumn release, distinguishing it from the economic update that had been previously mentioned by the finance minister.
Just after participating in Pope Leo XIV’s inauguration at the Vatican, Carney confirmed the autumn budget, clarifying after Finance Champagne’s remarks about an economic update, which had hinted at a postponed annual budget.
Carney, at a Rome press conference, stated that “it would be inefficient to try and finalize a budget in just three weeks, particularly with a recently appointed cabinet.”
He asserted that a budget before the NATO summit in June and before the advanced economic partnership talks with the U.S would come too soon.
Furthermore, he mentioned that the government in actively exploring methods to cut spending and increase efficiency within the public sector.
In addition, Carney conveyed that the fall budget will be significantly more comprehensive, effective, ambitious, and prudent, as it will synthesize considerations of defense spending, the economic outlook (the tariff situation with the United States), and efforts to enhance government efficiency.
On X late Saturday, Champagne mentioned that 70% of the traffic put in place to counter those from the United States are still active.
Champagne’s social media message was a reply to opposition Conservative Party leader Pierre Poilievre’s statement that “Carney had, without any public knowledge, effectively eliminated retaliatory traffic.”
On Sunday, Carney joined a host of dignitaries at the Vatican for the inaugural mass of the newly chosen Pope Leo. Prior to the G7 summit in the Canada in June, he also engaged in discussions with Ukrainian President Volodymyr Zelenskiy Prime Minister Giorgia Meloni, and European Commission President Ursula von der Leyen during his time there.
