Canada's 2026 federal budget set for Nov. 5

Finance Minister François-Philippe Champagne will release Canada's 2026 federal budget on Nov. 5.

He announced the date during Question Period in the House of Commons, the daily sitting when ministers answer questions from MPs. The Globe and Mail

The announcement coincided with a new report from Parliamentary Budget Officer Annette Ryan on the state of federal finances. She said higher oil prices and other factors had given Ottawa a short-term fiscal boost. New spending announcements have used up all of that room and more. The Globe and Mail

Ryan projected that federal deficits will be $3 billion higher per year over the next four years than in her June forecast. The Globe and Mail

A November budget continues a change under Prime Minister Mark Carney to table federal budgets in the fall rather than the spring. Champagne, who also holds the national revenue portfolio, tabled Budget 2025 on Nov. 4, 2025. Department of Finance Canada

That budget was the Carney government's first. Ahead of its release, the Liberal government signalled it intends to cut government operational spending by 7.5 per cent for the 2026-27 fiscal year. CBC News