Mark Carney’s big-spending budget pours billions into housing, business and benefits as deficits persist

Toronto Star · Alex Ballingall, Tonda MacCharles · 2026-11-05 21:00 UTC

Prime Minister Mark Carney’s 2026 budget aims to show that an economy-obsessed government has put Canada’s long-standing social gaps near the top of the priority list.

OTTAWA — Prime Minister Mark Carney’s 2026 budget aims to show an economy-obsessed government has put Canada’s long-standing social gaps near the top of the priority list.

Alongside tens of billions of dollars in expected tax breaks for businesses, the new fiscal blueprint devotes $11.2-billion to “end” homelessness, billions in new funding for Indigenous infrastructure and supports, and a boost in tax benefits for low-income workers and families.

But the spectre of the trade war with the U.S. that has stalked Carney’s time in office still looms large, with the government pressing forth on an agenda to funnel incoming cash and go deeper into debt in a bid to juice economic growth and break Canada’s dependence on its largest commercial partner.

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