Carney tables Budget 2026 with $142B in new spending

Prime Minister Mark Carney's government tabled Budget 2026 with $142.1 billion in new tax incentives, spending and other measures over five years. Finance Minister François-Philippe Champagne projects a $62.3-billion deficit this year, $3 billion below the spring forecast, yet deficits above $50 billion each of the next four years with no path to balance. Revenues beat earlier expectations, and Ottawa is spending the windfall on growth incentives, affordability and Indigenous infrastructure. The largest new item is a $36.1-billion productivity mega deduction. Debt charges of $60.2 billion will exceed health transfers. Conservatives and New Democrats attacked the debt and corporate focus.