Champagne says Thursday's budget will focus on affordability and cultural sovereignty

Finance Minister François-Philippe Champagne says the federal budget he tables on Thursday will focus on affordability and cultural sovereignty, while continuing the government's push to make the economy more independent. Speaking on the eve of tabling his second budget, Champagne said the government is aiming to help Canadian businesses by expanding trade opportunities, according to the Globe and Mail.

He made the remarks at the factory of Montreal shoemaker Pajar, where he took part in the tradition of buying a new pair of shoes before a budget. Champagne said "Affordability is top of mind," pointing to the price of rent, food and gas.

He said the government has already taken "a number of steps to support Canadians with affordability." He did not say whether the budget would include additional measures. He also declined to give specific examples of what the government is proposing, saying the budget is about changing Canada's growth model.

Speaking in French, Champagne said the government is working to support Canadian sovereignty, "including cultural sovereignty."

Some measures have already been reported. The budget is to include a Productivity Mega Deduction worth $36-billion over five years. It would let businesses immediately write off investments in eligible capital assets, meaning they could deduct the cost in the year the spending is made.

The government has also announced an extension of the federal gas tax cut until the end of March, at a fiscal cost of about $2.9-billion. It has announced a $2-billion program that would give rebates to homeowners who install electric heat pumps, devices that heat and cool a home.

Prime Minister Mark Carney and Champagne will deliver the government's second budget on Thursday, Nov. 5, according to CBC News.