"Generational" is the Carney government's adjective of choice at this moment of consequence. The word appeared 11 times in the prepared text of François Philippe-Champagne's budget speech and another 45 times in the 493-page budget document.

A Canadian opposition lawmaker has joined Prime Minister Mark Carney’s governing Liberal Party on Tuesday, a political coup on a day when the government announced its budget for the year

The government of Prime Minister Mark Carney unveiled a program of big spending to spur Canada’s economy and reduce its dependence on the United States.

The prime minister’s first budget revisits a decade of Liberal policy on climate, taxes and the public service.

Prime Minister Mark Carney’s government is proposing in the 2025 budget to follow through on a whopping investment to harness the power of artificial intelligence over the next five years. Budget 2025, tabled Tuesday afternoon by Finance Minister François-Philippe Champagne, provides $925.6 million to support “sovereign public AI infrastructure.”

Canada could scrap a cap on oil and gas emissions if other measures like effective carbon markets, stronger regulations, carbon capture and storage technologies proved successful, the government said in a budget plan unveiled on Tuesday.

The question now is whether Carney’s decision to simultaneously run a sizeable deficit while slashing public service jobs will find support among opposition parties.

Mark Carney’s first budget is an economist’s plan to defend Canada from Donald Trump’s trade aggression, focused on spending that boosts investment and productivity while requiring “fiscal discipline” and the program and civil service job cuts that come with it.