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OTTAWA — Finance Minister François-Philippe Champagne signalled Wednesday there will be no spring budget and only a fall economic statement, despite his predecessor announcing pre-budget consultations earlier this year.
Asked by reporters about the date of the next budget, Champagne said his first three orders of business are tabling a motion to cut the bottom income tax bracket by one per cent, presenting a speech to the throne on May 27 and then publishing an economic update in the fall.
He made no mention of a budget, nor did he respond to repeated questions as to why the government would not be tabling a spring budget.
“The middle-class tax cut, that’s step one. Step two, you’re going to have a throne speech which will outline the Canadian government’s priorities, and there will be a fall economic statement to follow,” Champagne said after the first cabinet meeting since the shuffle Tuesday.
Conservative Leader Pierre Poilievre said the decision not to table a budget is a sign that Carney is failing to deliver on his election campaign promises to Canadians.
“Parliament has already been shut down for nearly half a year. Now, in the face of serious economic threats, the Liberals don’t intend to present a budget this year. There is no roadmap forward, no economic vision, and no willingness to lead,” said Poilievre, in a written statement. “This is not the leadership Mark Carney promised—it’s abandonment.”
Champagne’s signalling that there will be no spring budget is notable because his predecessor, Dominic LeBlanc,
announced pre-budget consultations in February
. At the time, Justin Trudeau was still prime minister while the Liberal party was in the midst of a leadership race that ultimately crowned Mark Carney.
“Through Budget 2025, the government will remain focused on responding to the current Canada-U.S. context, making life more affordable for all Canadians, continuing to strengthen economic security, and unlocking growth by boosting our competitiveness and productivity,” read the release by Finance Canada announcing the consultation.
In December, the Commons Finance committee also tabled a
s of its 2025 budget consultations.
Champagne also clarified that Prime Minister Mark Carney’s election promise to cut the lowest income tax bracket rate by one per cent will be introduced through a ways and means motion within the first sitting days of the House of Commons, which reopens on May 26.
In a ceremony reminiscent of an U.S. presidential signing of an executive order, the
directing his government to prepare a motion to deliver the promised tax cut.
“Canadians sent a clear message: they need to see improvements in their affordability,” Carney said. “We’re acting today on that so that on July 1, as promised, that middle class tax cut… will take into effect.”
Champagne said he expects opposition MPs to “obviously” support the government’s motion.
“This is about Canadians. You know, we are in a situation, it’s a dire situation,” Champagne said. “This is a way for all parliamentarian to show up and say, ‘Yes, we support Canadians at the time when they need a break’.”
The last time the government did not table a spring budget was 2020 at the onset of the COVID-19 pandemic in March. At the time, the sudden shutdown of the Canadian economy laid waste to the Liberal government’s original spending plans.
Instead, the Trudeau-led Liberals tabled a “mini-budget” fall economic statement.
National Post
cnardi@postmedia.com
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