Prime Minister Mark Carney is set to address Canadians tonight at 7:30 p.m. ET, framing it as a blueprint for "Canada’s plan to build a stronger economy" amid mounting economic woes.

With the 2025 federal budget over three months overdue, this prime-time speech seems more like a frantic attempt to pre-empt backlash over what could be one of the most deficit-riddled fiscal plans in modern Canada.

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Liberals prioritize foreign workers over youth in economic betrayal: @TamaraUgo

The Carney Liberals are betraying youth by approving thousands of Labour Market Impact Assessments for temporary foreign workers in low-wage jobs, while student unemployment soars to 20% in some… pic.twitter.com/7etwcQY8T5

— Rebel News (@RebelNewsOnline) July 16, 2025

The announcement follows a scathing letter from Conservative Leader Pierre Poilievre, who accused Carney's Liberal government of fiscal recklessness after 10 years of "empty bank accounts, empty fridges, and empty stomachs" for everyday Canadians. Poilievre demanded a budget that rewards hard work with affordable food and homes, while slashing inflationary taxes and spending.

Canadians deserve an affordable budget allowing for affordable lives. After 10 years of inflationary Liberal taxes & debt, the cost of government is driving up the cost of living.

Conservatives demand a budget that ends taxes on food, energy, homebuilding, and the inflation tax.… pic.twitter.com/JjLgLtwivS

— Pierre Poilievre (@PierrePoilievre) October 20, 2025

"The cost of government is driving up the cost of living," he wrote, highlighting doubled debt, housing costs, and food bank usage under Liberal rule.

A Desjardins report warns the deficit could hit a 30-year high, while the Parliamentary Budget Officer pegged it at $68.5 billion by year’s end, calling into question the “long-term sustainability of current fiscal policy.”

Poilievre and Carney are expected to meet ahead of this evening's address, though it's absent from the PM's public itinerary. With Carney's minority government teetering, rumours are swirling of a non-confidence vote if opposition parties unite against a budget that extends the Liberals’ pattern of unchecked deficits.

Poilievre has repeatedly warned about reckless Liberal spending, echoing concerns from interim Parliamentary Budget Officer Jason Jacques, who described the current fiscal outlook as “stupefying” and “shocking.”

SOMEONE PULL THE FIRE ALARM ‼️

Parliament’s budget watchdog calls the Carney government’s deficits:

❌ “very alarming.”
❌ “stupefying, shocking”
❌”Unsustainable”

“if you don’t change, this is done.”

“Something is going to break.” pic.twitter.com/e2GfiJlKJk

— Pierre Poilievre (@PierrePoilievre) September 26, 2025

Carney, a former central banker who campaigned on fiscal prudence, now faces backlash over unmet promises such as taking an “Elbow’s Up” hard line against Trump’s tariffs to curbing runaway spending.

With inflation high and the cost-of-living crisis deepening, the timing of his national address begs the question: why circumvent Parliament just two weeks before such a crucial budget delivery? Is this a bold move, or a last-ditch attempt to mask growing panic inside a government bracing for failure?