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ARTICLE · 11 NOVEMBER 2025

Federal Budget 2025

McCarthy Tétrault
McCarthy Tétrault
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On November 4, 2025 (Budget Day), Canada's Minister of Finance and National Revenue, François-Philippe Champagne, tabled the Liberal Government's budget...

CanadaTax
McCarthy Tetrault LLP
McCarthy Tetrault LLP
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2025 Canadian Federal Budget Commentary – Tax Initiatives

Introduction

On November 4, 2025 (Budget Day), Canada's Minister of Finance and National Revenue, François-Philippe Champagne, tabled the Liberal Government's budget, Building Canada Strong, in the House of Commons (Budget 2025).

The stated goals of Budget 2025 are to: (i) build the Canadian economy by increasing competitiveness and supercharging growth; (ii) empower Canadians by reducing costs, decreasing housing costs by investing in affordable housing, and reducing operational spending and increasing capital spending, referred to as "spending less to invest more"; and (iii) protect Canadian sovereignty and keep Canada safe.

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