What Liberals are planning for federal budget, ‘middle-class tax cut’ – National

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What Liberals are planning for federal budget, ‘middle-class tax cut’ – National

The federal government does not plan to table a federal budget before the House of Commons rises this summer, the finance minister said Wednesday, drawing criticism from opposition parties of Prime Minister Mark Carney’s priorities.

Finance Minister François-Philippe Champagne said the government’s first priority will be to pass what the Liberals are calling a “middle-class tax cut” by July 1.

“That’s step one,” Champagne told reporters after a cabinet meeting in Ottawa, the first since the new ministry was sworn in Tuesday.

“Step two, you’re going to have a throne speech where we’ll outline the ********* government’s priorities, and there will be a fall economic statement to follow. So those are really the sequence (of events) that you’re going to see.”

Champagne said the proposed tax cut will be introduced through a ways and means motion in the House of Commons that will be tabled immediately after Parliament returns on May 26.

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Carney on Wednesday signed a document, which he called an “order,” that he said would deliver the tax cut.

“We promised the middle-class tax cut leading to over $800 of savings for two-income households,” Carney said.

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“We are acting today on that, so that by July 1, as promised, that middle-class tax cut … will (come) into effect. We’re acting on affordability as we look to build up this economy.”

Champagne said prioritizing the tax cut shows the Liberals are listening to Canadians.

“This is very significant and it sends a very strong and clear message to Canadians that we care, that we understand that one of the first concerns they have is about affordability,” he said.

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1:13
Carney cabinet shuffle: François-Philippe Champagne stays on as finance minister

While campaigning as Liberal Party leader, Carney pledged to reduce the lowest marginal tax bracket by one per cent.

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The lowest tax bracket as of now is 15 per cent of all qualifying income earned up to $57,375. Carney’s promise would bring that down to 14 per cent instead.

The Liberals, who won a ********* government in the House of Commons, will need some opposition votes to pass any legislation.

Conservative Leader Pierre Poilievre and interim NDP leader Don Davies both said it’s unacceptable that Carney will not produce a fiscal plan anytime soon.

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“Canadians were told that Mark Carney, the supposed serious economist, would bring competence and clarity,” Poilievre said in a statement. “Instead, we’re getting delays and disfunction.”

Davies said Parliament needs to be able to scrutinize the Liberal government’s spending plans and Ottawa should not delay federal spending in light of the economic crisis brought about by U.S. tariffs.

King Charles III is scheduled to deliver the Speech from the Throne to Parliament on May 27, outlining the new government’s vision.

After the throne speech is delivered, the government will introduce a motion that triggers up to six days of debate, after which the House of Commons will vote on approving the speech and the government’s agenda.

The motion effectively serves as the first measure of confidence in the government, as passing it would allow the government to begin carrying out its legislative priorities.

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— with files from the ********* Press

&copy 2025 Global News, a division of Corus Entertainment Inc.

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