Carney Liberals say no to tabling budget, delay fiscal update until fall

The Mark Carney Liberals—who ran on a platform of fiscal responsibility—will not be tabling a budget for the coming year. Instead, they will skip a budget altogether and provide only a Fall Economic Update, the last of which was delivered in December. It will be the first time since the peak of the Covid health crisis that the federal government has not tabled a budget.

Prime Minister Mark Carney’s cabinet met for the first time on Wednesday following the appointment ceremony on Tuesday. The decision to forego a formal budget has already drawn sharp criticism from the opposition.

Conservative leader Pierre Poilievre blasted the move, accusing Carney of abandoning his campaign rhetoric. “During last month’s federal election, one of Mark Carney's most common slogans was 'a plan beats no plan.' Conservatives wholeheartedly agree," Poilievre said in a statement. "That's why it is so unacceptable that, today, Carney confirmed that he, in fact, has no plan and the government will not table a budget."

Poilievre warned that in the face of rising costs for families and mounting pressure on Canadian industries, particularly due to American tariffs, the Liberal government was “walking away from their responsibilities.” He accused Carney of “delays and dysfunction” and claimed that instead of providing the leadership voters were promised, the Liberals were delivering “nothing.”

“Parliament has already been shut down for nearly half a year,” Poilievre added. “Now, in the face of serious economic threats, the Liberals don’t intend to present a budget this year. There is no roadmap forward, no economic vision, and no willingness to lead.”

Calling the move a “betrayal of workers and families,” the Conservative leader stressed that Canadians deserved a government that would “show up when it matters most.”

Poilievre said the Conservatives are demanding a plan that protects jobs, defends Canadian industries, and secures the country’s economic future from foreign threats. “While others disappear when things get tough,” he concluded, “Conservatives are ready with real leadership—and a real plan that puts Canadians first.”

Carney’s government is reportedly focusing instead on managing the ongoing US trade war—another winning issue from the last election.

While the Carney government is opting not to present a full budget this spring, Parliament will still be ask to approve supplementary estimates—requests for additional funding to support initiatives that either weren’t previously budgeted for or now require more resources, reports the CBC.

These estimates are typically tabled up to three times per year when the House is in session, with the next submission deadline set for June. MPs are expected to return to the House on Monday, with the government’s throne speech scheduled for Tuesday.