Champagne directs cabinet to find “ambitious” savings before budget
Finance Minister François-Philippe Champagne has tasked Liberal cabinet ministers with finding “ambitious” savings before the Carney government releases its 2025 budget.
Finance Minister François-Philippe Champagne has tasked Liberal cabinet ministers with finding “ambitious” savings before the Carney government releases its 2025 budget, slated for September when the House of Commons resumes.
According to two letters issued by Champagne to ministers on Monday, program spending is to be reduced by 7.5 per cent in the fiscal year that begins April 1, 2026, followed by a 10 per cent reduction in 2027 and a further 15 per cent reduction in the 2028-29 fiscal year.