Carney's Budget Adds $142B in New Spending and Tax Breaks Meant to Improve Affordability and Boost Growth
2026 budget projects $62.3-billion deficit
TL;DR
- The 2026 budget includes $142 billion in new spending and tax breaks over five years.
- The goal is to spur economic growth and address affordability issues.
- A new Productivity Mega Deduction program allows businesses to write off capital investment costs, totaling $36 billion.
- Support for individuals and businesses affected by U.S. tariffs amounts to $43.5 billion.
- $11.2 billion over four years is dedicated to tackling homelessness.
- Increases to GST rebates are included to help with the cost of living.
- Significant expenditures are planned for Canadian arts and culture programs.