Prime Minister Mark Carney announced Sunday that the Liberal government will present a federal budget in the fall to allow time for economic and fiscal clarity.

Speaking to reporters in Rome, Carney defended his government's decision to delay the spring budget, stating that rushing it would be unproductive.

"We will have a much more comprehensive, effective, ambitious, prudent budget in the fall," he said. "You do these things right, and that's what we're going to do."

Industry Minister Mélanie Joly stated that Canadians deserve a public finance update, defending the government's decision not to present a spring budget.

The federal government will instead present a Fall Economic Statement with an income tax cut when Parliament reconvenes.

Joly informed Radio-Canada that more information may be released to Canadians, but offered no details on timing or format.

"Before leaving for the summer holidays?" asks host Daniel Thibeault. "I am not the Minister of Finance, I am the Minister of Industry," she replied.

In the coming months, more information will be available regarding Canada's defence spending, economic outlook, and government efficiency plans, Carney claimed.

Opposition parties and taxpayer advocates criticized the Prime Minister for lacking specific plans after the government announced no budget before the parliamentary summer recess.

"Failing to even present a budget is a huge crack in Prime Minister Mark Carney's credibility," said Franco Terrazzano, CTF Federal Director. "You can't be credible with the finances if you can’t even bother to put together a budget.”

Conservative leader Pierre Poilievre concurred with the advocate. “Well, a budget is a plan, and if he [Carney] does indeed have a plan, … then he would introduce a budget so that Canadians know exactly what the finances are."

An economic statement is usually less comprehensive than a full budget. Carney made it clear Sunday the document will be a full-fledged budget.

The government last failed to present a budget in the pandemic year of 2020. Parliament has not passed a Budget Implementation Act since June 19, 2024, stalled by Conservative filibusters over document disclosure related to a green technology fund. 

Minister Joly insists that the Carney government was elected for its economic arguments. "We are with the most economical prime minister of recent decades," she stressed.

The Liberal election platform projected a $62.3 billion deficit this fiscal year, exceeding $61.9 billion from last year, and the 2008 financial crisis ($55.6 billion). Carney criticized his predecessor for deficit spending before dropping the writ.

He announced $129 billion in new deficit-increasing measures, including the income tax cut.

A Ways and Means Motion will reduce the lowest income tax bracket from 15% to 14.5% (July 1) and then to 14% (January 1, 2026). 

"It sends a very clear message to Canadians that we care," said François-Philippe Champagne, the Finance Minister. "We expect other parliamentarians to support the government because this is about Canadians."

This marks the longest stretch without a budget since the 1960s and the first non-COVID-related instance in over two decades, which has been called "extremely unusual."

Please help me stop Mark Carney — before it’s too late!

Mark Carney wasn’t elected — he was installed by the global elites. And now that he’s in charge, they think they’ve won. But not if we have anything to say about it. While the bought-and-paid-for media slobber over their new golden boy, we’re hitting the streets, digging into his World Economic Forum playbook, and calling out the radical agenda they’re trying to ram down Canada’s throat. This is the fight of our lives — and we’re not backing down. Help us keep our reporters on the ground, our billboard truck on the move, and our message uncensored. Pitch in now if you want to stop Mark Carney before he does irreversible damage.

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