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PM Carney's $140B Budget Sparks Credit Concerns

11/8/2025

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Summary

Story summary

Prime Minister Mark Carney presented a budget on November 7, 2025, proposing over $140 billion in new spending, offset by $60 billion in savings.
Fitch Ratings warned the plan could weaken Canada's credit profile, projecting gross debt to 98.5% of GDP by 2027.
The Liberal government survived two confidence votes, while Carney defended the budget despite Bloc Québécois and NDP criticisms over health care and climate action.

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Story summary

Prime Minister Mark Carney presented a budget on November 7, 2025, proposing over $140 billion in new spending, offset by $60 billion in savings.
Fitch Ratings warned the plan could weaken Canada's credit profile, projecting gross debt to 98.5% of GDP by 2027.
The Liberal government survived two confidence votes, while Carney defended the budget despite Bloc Québécois and NDP criticisms over health care and climate action.