Federal budget 2026: What we learned as Champagne, Poilievre debate Carney spending plan | FULL

Finance Minister François-Philippe Champagne tabled Canada’s 2026 federal budget in the House of Commons on Thursday. It’s Prime Minister Mark Carney’s second budget and his first with a majority government. It comes amid an ongoing trade war with the U.S. as Ottawa looks to attract investment and reduce Canada’s reliance on its largest trading partner.

Finance Minister Francois-Phillipe Champagne said, “with budget 2026, we're helping Canadians today. And giving them a bridge to a better future by building more housing. By producing more renewable energy, by increasing competition, and by building an economy where salaries and opportunities continue to grow.”

Opposition leader Pierre Poilievre rejected Champagne’s claims, saying, “the first priority of this budget should have been to save Canadians money. But by adding $765 billion in new debt, a record-smashing sum over the next five years, this Prime Minister will inflate the cost of fuel, food and homes. This is a costly credit card budget that Canadians can't afford, and conservatives will vote no.”

The budget outlines Ottawa’s deficit plans and provide details on defence spending and major projects, including a proposed West Coast pipeline.