Despite Prime Minister Mark Carney's pledge to cut spending, government financial data indicates a rise in public expenditures this fiscal year compared to the last.

Treasury Board President Shafqat Ali presented the main estimates in Parliament on Tuesday, outlining the new administration's initial spending plans.

Canada's projected spending for the 2025/26 fiscal year is $486.9 billion, an 8.4% increase from the previous year. $264 billion is pre-approved, while the remaining $222.9 billion requires a new bill and parliamentary vote.

Spending estimates also include $73.4 billion authorized by Governor General Mary Simon through special warrants.

During the reopening of Parliament in Canada, King Charles III warns that the world is a more "dangerous and uncertain place" than any time since the Second World War. pic.twitter.com/X3Byt9TVuG

— Rebel News (@RebelNewsOnline) May 27, 2025

Due to Justin Trudeau's prorogation of Parliament and the election, the tabling of the estimates, traditionally in March before the April 1 fiscal year start, was delayed until Tuesday.

“Canadians expect their government to invest responsibly and transparently in the areas that matter most to their lives,” Ali told iPolitics in a statement. 

King Charles III reiterated that promise Tuesday with his Throne Speech, the first by a monarch since 1977. “Day-to-day government spending … has been growing by nine percent every year [and] the Government will introduce measures to bring it below two percent.”

The Main Estimates are usually presented early in the fiscal year as part of a suite of budget documents. Supplementary estimates, which are confidence votes, provide spending plan updates three times later in the year.

The Liberals' throne speech, delivered by King Charles III, had no plan to address the government's "morbidly obese" spending, says Conservative Leader Pierre Poilievre.

Pipelines, removing anti-energy laws, justice reform — "all of these” were left out, he adds. pic.twitter.com/45FgQjd81f

— Rebel News (@RebelNewsOnline) May 27, 2025

Reading a government-prepared speech, King Charles III stated that transfers to provinces, territories, and individuals would be maintained.

The $486.9 billion deficit is mainly composed of federal transfers to provinces and territories for healthcare and benefits ($294.8 billion), with the remainder allocated to operating and capital expenditures ($143.1 billion) and public debt charges ($49.1 billion).

According to Global News, the deficit projections omit $28.8 billion for employment insurance and $29.6 billion for Canada Child Benefit payments when compared to the 2024 Fall Economic Statement.

The 2025/26 Main Estimates projects $554.5 billion in total spending, including prior commitments but excluding any Liberal election promises.

Budget 2024 estimated $534.6 billion in spending, later upgraded to $539.5 billion in the Fall Economic Statement.

Andrew Scheer addresses Parliament following King Charles' speech and slams the Carney Liberals for failing to provide a "roadmap" to prosperity. pic.twitter.com/f0bIYC8LCU

— Rebel News (@RebelNewsOnline) May 27, 2025

Opposition parties have criticized the Liberal government for not presenting a budget during the spring sitting, which ends June 20. Finance Minister François-Philippe Champagne initially stated no budget would be tabled in 2025, but Carney clarified that the spring budget will be presented in the fall.

The Conservatives criticized the postponement of the formal budget, arguing it is difficult for Parliamentarians to vote on a $486-billion spending plan without simultaneously reviewing the government's revenue plan.

“Just like Justin Trudeau, Mark Carney’s spending is absolutely out of control. In fact, it’s worse,” Conservative Leader Pierre Poilievre told reporters outside the House of Commons.

Government House Leader Steven Mackinnon stated that parliamentarians will have ample opportunity to question all ministers about the estimates, exceeding the level of scrutiny in recent history. 

The matter will go to a committee for study, and the House will allocate four days next month for MPs to question the government on spending.

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