Budget 2025: Key numbers from the Liberals’ latest spending plan

OTTAWA — Here’s a brief look at the key numbers in the Liberal government’s 2025 budget:

$20.1 billion: Total net new government spending for the 2025-26 fiscal year.

$89.7 billion: Total of net new budget spending items over five-year timeline of budget plan, including a projected $51.2 billion in cost savings.

$78.3 billion: The total deficit for this fiscal year — more than double estimates for last year.

Up to 40,000: The number of public service positions the government intends to eliminate over the next three years.

155,000: The number of student visas being issued in 2026, down from about 306,000 in the previous immigration levels plan.

42.4: The federal debt as a percentage of GDP for fiscal 2025-26.

$73 billion: The sum set aside for new defence spending, with $30 billion going to capital investments.

$5 billion: The amount earmarked over seven years for a national trade diversification corridor.

$1 billion: The sum set aside for Arctic infrastructure.

Zero: The number of updates the budget offers on where Canada stands on its 2030 and 2035 emissions targets.

$2.7 billion: Total cuts to foreign aid over four years.

3: The number of opposition votes or abstentions the Liberals must secure to pass the budget.

This report by The Canadian Press was first published Nov. 4, 2025.