Champagne tables Carney government's first majority budget

Finance Minister François-Philippe Champagne tables Budget 2026 in the House of Commons at 4 p.m. ET today, the second budget of Mark Carney's government and his first since winning a majority. Titled "Masters of Our Destiny," it is expected to include affordability measures such as the extended fuel excise tax holiday, business tax incentives including the new "mega-deduction" investment measure, and spending on infrastructure, defence and culture, with the annual immigration levels plan folded in — 380,000 permanent residents a year, plus targets of 385,000 temporary worker and student arrivals in 2026 and 370,000 in each of the following two years. New Finance Department figures suggest this year's deficit will land well below the $66.9-billion projected in the spring, while the Parliamentary Budget Officer pegs it at $63.3 billion and questions the pledge to balance the operating budget by 2027-28. Champagne says the budget is about "changing Canada's growth model" and building resilience to shocks like the U.S. trade war rather than about Washington itself; Carney plans to be in the chamber to field questions after the speech. Also in this briefing: Canadian astronaut Joshua Kutryk performs second spacewalk outside ISS; Unseasonable November heat brings beach weather to Ontario and Quebec.

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