Carney government unveils $142B plan to boost economy, affordability in Budget 2026

BNN Bloomberg · Marieke Walsh · 2026-11-06 00:47 UTC

Mark Carney’s government is adding tens of billions to the debt and deficit to spur the economy, ease affordability pressures and eradicate homelessness.

OTTAWA — Prime Minister Mark Carney’s government is adding tens of billions to the debt and deficit with the goal of spurring the economy, easing affordability pressures for Canadians, and eradicating homelessness.

In the 2026 budget tabled in the House of Commons on Thursday, Finance Minister Francois Philippe Champagne revealed $142.1 billion in new tax incentives, spending and other measures over the next five years.

The budget also details a further $9.4-billion in new spending that was announced between the spring economic update and the new budget. For example, Carney’s July pledge to help fund the George Massey Tunnel Replacement Project in B.C. will cost $1.5 billion over five years.

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