EDITOR’S NOTE: This article originally appeared in Parliament Today, a Village Media newsletter devoted to covering federal politics on Parliament Hill.
Prime Minister Mark Carney teased his upcoming budget in a national address in Ottawa on Wednesday evening, promising that his fiscal plan will be about "building, taking control and winning."
At a speech to local university students, he said the Nov. 4 budget will include a new "Climate Competitiveness Strategy" and a new immigration plan.
The climate plan will have "a focus on results over objectives" and "on investments over prohibition," the prime minister said, but offered no specifics.
The Liberal government has been under pressure to repeal the tanker ban in B.C.'s northern waters in order to allow a pipeline to the coast, and to repeal the electric vehicle mandate that Carney has put on pause.
Nor were there details of the forthcoming immigration plan, beyond that it will "do better — for newcomers, for everyone," according to Carney, who touted that asylum claims are down by a third and new temporary foreign workers are down by more than 70 per cent.
Carney offered an economic history lesson to the students, beginning with the fall of the Berlin Wall during his own school days, "leading to a long period of liberalization of the movement of goods, capital and people, leading to a peace dividend."
It was a time of hope and optimism, he said, and it's now over.
"Many of our former strengths — based on close ties to America — have become our vulnerabilities," Carney said.
He did not name U.S. President Donald Trump, but did warn about the economic damage of his tariffs and promised to deliver nation-building projects that will diversify Canada's trade with new partners around the world.
"To be clear, we won’t transform our economy easily or in a few months — it will take some sacrifices and some time," he said.
The government will do its part and "work relentlessly to cut waste and drive efficiencies," he said, and repeated his promise to balance the government's operating budget in three years.
Carney made the announcement late Wednesday evening after soaking in a caucus meeting and taking part in question period on the Hill. He also spent the day privately meeting with Bloc Leader Yves-François Blanchet and, later in the day, Conservative Party of Canada (CPC) Leader Pierre Poilievre about the budget.
Those gatherings could prove crucial, as there are rumblings that Carney’s government is worried its first budget may not pass in the House given it has yet to receive support from opposition parties. Government House leader Steven MacKinnon chided the Bloc and the CPC for making public comments about their lack of support before seeing the document, arguing that nobody wants a second 2025 election.
NDP interim leader Don Davies has not ruled out backing the minority Liberals’ budget.
Speaking to reporters on his way into the Liberals’ caucus meeting, MacKinnon reiterated that his party isn’t concerned about a vote of non-confidence.
“If there has to be an election, we will confidently take our plan to the people, but we don’t think an election is necessary and we think the opposition parties are, in my view, being very, very cavalier about the country’s future,” he added.
Pressed about whether the feds are willing to make any concessions to secure confidence support, he said he has “heard” and is “considering” opposition parties’ suggestions, but remained mum on specifics. Liberal whip Mark Gerretsen said he’s "confident" the budget will pass, arguing that voters are not in the “mood” to head to the polls right now.
But other Liberals struck a different tone.
Canadian Identity Minister Steven Guilbeault said it would be "irresponsible" for opposition parties not to back the budget, but insisted the feds are “of course” ready to make concessions as a minority government. He did not directly address questions about whether the NDP is his team’s only option.
Meanwhile, Blanchet doubled down on his party’s demands by calling them "absolute conditions” for support, telling Hill reporters on his way into question period that it is not his “job” to appease the Liberals. He added that while the feds may tell him that his list of priorities, which includes a boost in Old Age Security benefits for younger seniors, is expensive, doing so will not cost as much as the support Ottawa provides to the oil and gas sector.
“They are the government," he said. “It’s their responsibility and only theirs to find somebody to vote with them. They know our conditions and if they wake up a little bit late, it's once again their problem."
Poilievre told reporters he was heading into his chat with Carney in a "spirit of collaboration,” reiterating his demands to keep the deficit below $42 billion and to drop “hidden taxes” on food. He said if the prime minister is open to doing so, he will have “a look” at the budget.
In question period, he reiterated this point, saying his party’s priorities “as Conservatives, are an affordable budget for an affordable cost of living.” He asked Carney if he would “accept” the CPC’s plan, to which the PM responded with an economic lesson.
“The inflation rate in Canada, the food inflation rate, is the G7 average, and we have the lowest deficit in the G7. What the government is going to do is use that deficit to grow this economy like it's never seen,” Carney said.
“The prime minister is now lecturing Canadians who are lined up at food banks, telling them that they've never had it so good,” Poilievre quipped.
“We promise to build this country strong. Nov. 4, this House will have a choice,” Carney shot back, reiterating talking points about his move to cut the consumer carbon tax. “Are you with us for those single mothers, are you with us for those farmers, are you with us to build this country strong?”