Wednesday November 5, 2025 | OTTAWA, ON [Reporting from VICTORIA, BC]
by Mary P Brooke | Island Social Trends
“It’s our country, it’s your future,” says Prime Minister Mark Carney speaking broadly to Canadians today. “The challenges we face are not small.”
The budget is intended to “empower Canadians and build this country bigger and bolder than ever before,” said Carney. It is spurred by seeking to “move from reliance on one partner” he said, referring of course to how Canada’s economy became dependent on trade with the United States.
He addressed media today in Ottawa from the floor of a transportation manufacturing company.
He was introduced by National Defence David McGuinty and accompanied on-camera by Housing and Infrastructure Minister Gregor Robertson. He acknowledged new Liberal MP Chris d’Entremont attending today.
Later today will be this week’s Liberal caucus meeting (at 10:30 am ET / 7:30 am PT), and Question Period in the House of Commons (2:15 pm ET / 11:15 am PT).
Budget sales period:
The federal budget was tabled in the House of Commons yesterday. Now for a week or so, Carney and Finance Minister François-Philippe Champagne will be addressing Canadians about various highlights of Budget 2025.
“With Budget 2025 we are taking back control to build Canada Strong,” said Carney today. “We’ve put forward to the House a plan that meets the moment.”
Carney said that the budget “reflects input from out caucus as to what our priorities should be”.
Numbers:
The impact of the trade war by the US on Canada will have an impact of about a $50 billion loss to the Canadian economy, which Carney translated as cost every Canadian about $1,300.
In that context, Carney said that Budget 2025 would deliver about $3,500 for each Canadian which is “surpassing what is being taken” said Carney.
Turbocharging:
“We’re building one Canadian economy turbocharged by new infrastructure,” said Carney today.
The prime minister says Canada will be a “superpower in clean and conventional energy” as well as restoring affordability to housing and adopting AI at scale.
Money is being shifted from operations and into investment, said Carney. The operational budget will be balanced over the next three years, he said today. He added that Canada will have the “strongest balance sheet in the G7”.
Communities:
“Building the future we want starts with building the communities that we want,” said Carney today.
“Some of the biggest investments are in local infrastructure,” he said, highlighting the Building Communities Strong Fund which will invest $51 billion over 10 years, followed by $3 billion per year ongoing, to revitalise local infrastructure including hospitals, universities, and colleges that serve people; roads and bridges that move goods; and the water and transit systems that sustain towns.
Communities will benefit by more emergency rooms in hospital and new urgent care centres as well as more modern equipment so that “care can be delivered faster and better”, said Carney, promoting the federal government’s budget intention to contribute to strengthening health care facilities across Canada.
Attracting investment:
The budget is intended to attract private investments across the country, the prime minister pointed out.
He said the federal government will be working with provinces and territories to stimulate more investment — by matching funding or eliminating certain development charges. The budget shows $17.2 billion over 10 years for that.
Carney says it matters “what we build and how we build — sustainably with low carbon investments to make Canada more competitive”.
Budget 2025 is intended to help create good union jobs across the skilled trades. He highlighted Canadian workers particularly in steel and lumber.
The budget includes support for the Toronto Metropolitan University medical school as well as “building Brampton strong”.
The budget is “preserving social programs”, said Carney, itemizing child care, dental, Pharmcare and school meals.
He noted that health transfers to the provinces help with education and social programs.
He menioned “tax credits for disabled Canadians”.
===== RELATED:
- Federal Budget 2025: investment for economic development & productivity (November 4, 2025)
- Jobs Minister Hajdu on Canada Post, Air Canada, youth employment, retraining supports (November 2, 2025)
- NEWS SECTIONS: 45th PARLIAMENT of CANADA | CANADA-NATIONAL | LIBERAL PARTY | CONSERVATIVE PARTY | BUDGET 2025