Bloomberg

Carney Delays Canada Budget Plans To Lower Income Tax By Jul

Metaculus

USMCA Extended at Joint Review?

Pierre Poilievre

Mark Carney

Dominic LeBlanc

Chrystia Freeland

Armon Shokravi


Deepak Shenoy

"We are deferring – from June 25, 2024 to January 1, 2026 – the increase to the capital gains inclusion rate."

"I am announcing today common sense Conservatives will reverse last June’s Liberal tax hike on capital gains—a tax economists agree will kill 400,000 jobs."

"Canada will increase its capital gains taxes by effectively about 30% higher tax."

"We are very committed to the capital gains measures that we put forward in the budget."

Will the Capital Gains Tax in Canada Be Raised?

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Canadian Finance Minister François-Philippe Champagne announced on Wednesday that the Liberal government will not table a spring budget for the first time since the COVID-19 pandemic, opting instead for a fall economic statement to outline fiscal plans.

National Post

Canadian Finance Minister François-Philippe Champagne announced on Wednesday that the Liberal government will not table a spring budget for the first time since the COVID-19 pandemic, opting instead for a fall economic statement to outline fiscal plans.

Champagne said the government is taking a "step-by-step" approach and won’t rush its fiscal outlook. “Priorities are not going to be different” from the campaign, he said, adding that releasing a plan in the fall will allow for “more economic certainty.”

The Globe and Mail

Champagne said the government is taking a "step-by-step" approach and won’t rush its fiscal outlook. “Priorities are not going to be different” from the campaign, he said, adding that releasing a plan in the fall will allow for “more economic certainty.”

The government has said its immediate priority is implementing a promised one-percentage-point reduction in the lowest income tax bracket, from 15% to 14%, scheduled to take effect July 1 this year. The reduction is expected to cost $27 billion (US$19 billion) over five years.

Financialpost

Investment Executive

The government has said its immediate priority is implementing a promised one-percentage-point reduction in the lowest income tax bracket, from 15% to 14%, scheduled to take effect July 1 this year. The reduction is expected to cost $27 billion (US$19 billion) over five years.

Prime Minister Mark Carney signed an order during the first meeting of his <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.verity.news/story/2025/carney-unveils-leaner-cabinet-with-mix-of-new-and-old-faces">newly sworn-in cabinet</a> directing the implementation of the tax cut, which the government says could save dual-income families up to $840 annually by 2026.

Prime Minister Mark Carney signed an order during the first meeting of his newly sworn-in cabinet directing the implementation of the tax cut, which the government says could save dual-income families up to $840 annually by 2026.

Conservative Leader Pierre Poilievre criticized the lack of a spring budget in a post on X, calling it “unacceptable” and evidence the government has “no road map forward, no economic vision, and no willingness to lead," leaving Canadians without the leadership they were promised.

The Post Millennial

Conservative Leader Pierre Poilievre criticized the lack of a spring budget in a post on X, calling it “unacceptable” and evidence the government has “no road map forward, no economic vision, and no willingness to lead," leaving Canadians without the leadership they were promised.

The government’s proposed tax cut will need backing from opposition parties to pass in the minority Parliament. Officials say they are confident the measure will gain cross-party support when the House of Commons returns on May 26.

Global News

House of Commons of Canada

The government’s proposed tax cut will need backing from opposition parties to pass in the minority Parliament. Officials say they are confident the measure will gain cross-party support when the House of Commons returns on May 26.

Bloomberg #0

Metaculus #0

National Post #

CBC #

The government's immediate priority is implementing a promised one-percentage-point reduction in the lowest income tax bracket, from 15% to 14%, scheduled to take effect July 1 this year. The reduction is expected to cost $27 billion ($US_____) over five years.

Financialpost #

The government's immediate priority is implementing a promised one-percentage-point reduction in the lowest income tax bracket, from 15% to 14%, scheduled to take effect July 1 this year. The reduction is expected to cost $27 billion ($US_____) over five years.

Prime Minister Mark Carney signed an executive order during his first cabinet meeting directing the implementation of the tax cut, which the government claims could save dual-income families up to $840 annually by 2026.</span

Global News #

Prime Minister Mark Carney signed an executive order during his first cabinet meeting directing the implementation of the tax cut, which the government claims could save dual-income families up to $840 annually by 2026.

The House of Commons is scheduled to return on May 26, 2025, followed by a throne speech on May 27 that will outline the government's priorities and vision for the country.</span

The House of Commons is scheduled to return on May 26, 2025, followed by a throne speech on May 27 that will outline the government's priorities and vision for the country.

The government has established new cabinet committees focused on priorities such as strengthening Canada's sovereignty, improving quality of life, and managing Canada-U.S. relations amid ongoing trade tensions.</span

The government has established new cabinet committees focused on priorities such as strengthening Canada's sovereignty, improving quality of life, and managing Canada-U.S. relations amid ongoing trade tensions.

The tax cut legislation will require support from opposition parties to pass through the minority Parliament, with the government expecting cross-party backing for the affordability measure.</span

The tax cut legislation will require support from opposition parties to pass through the minority Parliament, with the government expecting cross-party backing for the affordability measure.

The decision to skip the budget represents a complete abdication of fiscal responsibility and transparency. At a time of serious economic threats and U.S. trade tensions, Canadians deserve a clear roadmap and economic vision. This failure to present a budget is not just an oversight but a betrayal of workers and families who expected real leadership and a concrete plan.

The decision to skip the budget represents a complete abdication of fiscal responsibility and transparency. At a time of serious economic threats and U.S. trade tensions, Canadians deserve a clear roadmap and economic vision. This failure to present a budget is not just an oversight but a betrayal of workers and families who expected real leadership and a concrete plan.

franco_nomics

SandraCobena_

Thecanadianpressnews.Ca

Opposition slams Liberals for having no plans to table budget soon

The government is taking a prudent, step-by-step approach by focusing on immediate affordability measures while waiting for greater economic certainty before presenting comprehensive fiscal plans. The tax cut will provide immediate relief to Canadians, while the fall economic statement will offer a more accurate picture of finances once there's less uncertainty about U.S. trade actions.

The government is taking a prudent, step-by-step approach by focusing on immediate affordability measures while waiting for greater economic certainty before presenting comprehensive fiscal plans. The tax cut will provide immediate relief to Canadians, while the fall economic statement will offer a more accurate picture of finances once there's less uncertainty about U.S. trade actions.

Liberals planning for a fall economic statement but no budget just yet

The Globe and Mail #

Finance Minister Champagne suggests Ottawa wont present budget this year

Carney Government Skips Budget, Prioritizes Tax Cut by July

Canada

Finance

Politics

The decision to delay the spring budget is a smart, responsible move by the government. Champagne’s approach ensures that immediate priorities, like the promised tax cut and throne speech, are handled first — without rushing into a fiscal plan amid ongoing uncertainty. Waiting for greater economic clarity, especially on U.S. trade, will allow the government to present a stronger, more accurate fiscal outlook in the fall.

The decision to delay the spring budget is a smart, responsible move by the government. Champagne’s approach ensures that immediate priorities, like the promised tax cut and throne speech, are handled first — without rushing into a fiscal plan amid ongoing uncertainty. Waiting for greater economic clarity, especially on U.S. trade, will allow the government to present a stronger, more accurate fiscal outlook in the fall.

Liberals aren't planning to table a budget this year, finance minister says

The decision to delay the spring budget is a failure of leadership and fiscal transparency. At a time of rising economic threats and U.S. trade uncertainty, Canadians deserve a clear roadmap and economic vision. This delay isn't just an oversight — it's a betrayal of workers and families who were promised real action. By failing to present a clear fiscal plan, the government is leaving Canadians in the dark about its strategy for navigating these economic challenges.

The decision to delay the spring budget is a failure of leadership and fiscal transparency. At a time of rising economic threats and U.S. trade uncertainty, Canadians deserve a clear roadmap and economic vision. This delay isn't just an oversight — it's a betrayal of workers and families who were promised real action. By failing to present a clear fiscal plan, the government is leaving Canadians in the dark about its strategy for navigating these economic challenges.

There's a 20% chance that the United States-Mexico-Canada Agreement (USMCA) will be extended promptly at its July 2026 joint review, according to the Metaculus prediction community.

There's a 20% chance that the United States-Mexico-Canada Agreement (USMCA) will be extended promptly at its July 2026 joint review, according to the Metaculus prediction community.

Canada: Carney Government to Skip 2025 Budget, Prioritize Tax Cut

Canada: Carney Government Skipsto Skip 2025 Budget, PrioritizesPrioritize Tax Cut by July

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Metaculus Prediction

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LeBlanc

Poilievre

Shenoy

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