Finance Minister François-Philippe Champagne has tabled the 2026 spring economic update. The fiscal update showed a smaller than projected budget deficit of $66.9 billion for the fiscal year. However, revenue projections have increased compared to the 2025 budget presented last fall, meaning the government has decided to spend more money. New measures outlined in Prime Minister Mark Carney’s mini-budget are projected to reach $37.5 billion in net new spending over the next six years.
“Today, we’re restoring fiscal discipline,” Finance Minister François-Philippe Champagne told reporters in Ottawa on Tuesday. “These are serious times, and Canadians expect prudent fiscal management.”
Read National Post’s coverage of the mini-budget here and the full text of the spring economic update, below.
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