Liberals to table 2026 federal budget on Nov. 5
Posted October 20, 2026 1:01 pm.
Finance Minister François-Philippe Champagne says the Liberal government will table its 2026 federal budget on Nov. 5.
The upcoming fiscal plan will be the second delivered under Prime Minister Mark Carney and comes as Canada’s economy faces sharp headwinds from U.S. tariffs and other geopolitical forces.
Since taking office, Carney has tried to reorient federal spending away from the day-to-day operations of government and instead focus borrowing on an aggressive infrastructure agenda.
Canada’s economy showed some resilience in the second quarter but growth is under fresh pressure after the collapse of trade talks with the United States in August.
The parliamentary budget officer expects federal deficits will be an average of $3 billion higher annually over the next five years than the office projected in June.
But a stretch of higher gas prices tied to war in the Middle East has also lifted federal revenues in the near term, which the PBO expects will lower the deficit for this fiscal year.
