Canada’s federal government led by Prime Minister Mark Carney is set to deliver a spring economic update on April 28.
The mid-year update comes after a fall budget last year that projected a deficit of $78.3 billion for the fiscal year that ended on March 31, 2026.
While it’s not known what will be in the economic update, it is expected to continue Ottawa’s focus on affordability measures as Canadians struggle with rising living costs and U.S. tariffs.
Recently, Carney announced a pause on the federal fuel excise tax until Labour Day in September of this year to help lower the cost of buying gasoline at the pumps.
Earlier this week, the Prime Minister announced the creation of a sovereign wealth fund with an initial $25-billion capitalization to invest in nation-building projects.
Carney’s Liberal government had a minority government when they tabled their first budget last autumn. But after three recent byelection wins, the Liberals now have a majority in Parliament.
The Canadian prime minister has made diversifying the economy away from the neighbouring U.S. and addressing cost-of-living issues the main priorities of his government.
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