Finance minister says no 2025 budget, while government focuses on fall update

OTTAWA — Finance Minister François-Philippe Champagne signalled Wednesday there will be no spring budget and only a fall economic statement, despite his predecessor Dominic LeBlanc announcing pre-budget consultations earlier this year. Asked by reporters about the date of the next budget, Champagne said his first three orders of business are tabling a motion to cut the bottom income tax bracket by one per cent, presenting a speech to the throne on May 27 and then publishing an economic update in the fall. He made no mention of a budget, nor did he respond to repeated questions as to why the government would not be tabling a spring budget. “The middle-class tax cut, that’s step one. Step two, you’re going to have a throne speech which will outline the Canadian government’s priorities, and there will be a fall economic statement to follow,” Champagne said after the first cabinet meeting since the shuffle yesterday. Champagne’s signalling that there will be no spring budget is notable because his predecessor Dominic LeBlanc announced pre-budget consultations in February . At the time, Justin Trudeau was still prime minister while the Liberal party was in the midst of a leadership race that ultimately crowned Mark Carney. “Through Budget 2025, the government will remain focused on responding to the current Canada-U.S. context, making life more affordable for all Canadians, continuing to strengthen economic security, and unlocking growth by boosting our competitiveness and productivity,” read the release by Finance Canada announcing the consultation. In December, the Commons Finance committee also tabled a 330-page report on the fruit of its 2025 budget consultations. Wednesday, Champagne also clarified that Prime Minister Mark Carney’s promise to cut the lowest income tax bracket rate by one per cent will be brought forward via a ways and means motion within the first sitting days of the House of Commons starting May 26. On Wednesday afternoon, the prime minister publicly signed an order demanding his government prepare a motion to deliver the promised tax cut during an event that emulated American-style presidential executive order signings. “Canadians sent a clear message: they need to see improvements in their affordability,” Carney said. “We’re acting today on that so that on July 1, as promised, that middle class tax cut… will take into effect.” Champagne said he expects other Parliamentarians to “obviously” support the government’s motion. “This is about Canadians. You know, we are in a situation, it’s a dire situation,” Champagne said. “This is a way for all parliamentarian to show up and say, ‘Yes, we support Canadians at the time when they need a break’.” The last time the government did not table a spring budget was 2020 at the onset of the COVID-19 pandemic in March. At the time, the sudden shutdown of the Canadian economy laid waste to the Liberal governments’ original spending plans. Instead, the Justin Trudeau-led Liberals tabled a “mini-budget” fall economic statement. National Post cnardi@postmedia.com

• Guilbeault throws cold water on new pipeline, says we have enough already
• Conservative MP says Carney should appoint a labour minister and pay more than 'lip service' to workers

Get more deep-dive National Post political coverage and analysis in your inbox with the Political Hack newsletter, where Ottawa bureau chief Stuart Thomson and political analyst Tasha Kheiriddin get at what’s really going on behind the scenes on Parliament Hill every Wednesday and Friday, exclusively for subscribers. Sign up here. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com and sign up for our politics newsletter, First Reading, here.