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ARTICLE · 10 NOVEMBER 2025

Building Canada Strong: Targeted measures in a time of big promises

Gowling WLG
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Budget 2025 is the first budget of Prime Minister Mark Carney's Liberal government, and the first federal budget since April 2024.

CanadaGovernment, Public Sector
Jacques Shore
Jacques Shore
Suzanne Sabourin
Suzanne Sabourin
Michael Walsh
Michael Walsh
Amy Williams
Amy Williams
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Budget 2025 is the first budget of Prime Minister Mark Carney's Liberal government, and the first federal budget since April 2024. Titled Building Canada Strong, it responds to mounting economic pressures for Canada—including tariffs, slowing growth, and fiscal constraints—with billions in new spending aimed at stabilizing key industries and supporting workers.

While Budget 2025 supports the government's strategic direction toward greater economic autonomy and national self-sufficiency, it falls short of the sweeping generational transformation some had anticipated based on early signals, opting instead for targeted investments rather than broad economy-wide reform.

This bulletin outlines the key measures, priorities, and implications of Budget 2025.

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