The second federal budget under Prime Minister Mark Carney's government, announced last Thursday, included little direct investment in the post-secondary sector. The budget, titled Masters of Our Destiny, outlines $142.1 billion in new spending and tax measures amid a projected $62.3 billion deficit for 2026-27. Among the highlights, the budget allocates $22 billion in affordability measures, including a one-time 50% increase in the Canada Groceries and Essentials Benefit, $11.2 billion over four years to end homelessness within a decade; $18.5 billion for infrastructure in Indigenous communities and $5 billion in new spending for culture.
"The house is in order and we are in strong fiscal position that will give us the strength to build," said Minister of Finance and National Revenue Francois-Philippe Champagne in a press conference.
The government projects $403.9 billion in capital investments over the next six years, rising from $37.4 billion in 2025-26 to $78.2 billion in 2030-31. This next phase of economic and fiscal measures is focused on reducing barriers to investment, accelerating major projects, mobilizing private capital and strengthening Canada's productive capacity.
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