Champagne set for finance committee appearance as fall budget looms

OTTAWA — MPs will be pressing for details about Canada’s fiscal position today as Finance Minister François-Philippe Champagne is set to appear at a parliamentary committee.

Champagne was summoned last month to make an appearance at the House of Commons finance committee to answer questions about the federal government’s budget cycle.

The Liberals will table their first fiscal update under Prime Minister Mark Carney on Nov. 4 after the government opted to forgo the traditional spring budget.

Carney has promised to balance the operating side of the government’s books in three years but capital spending is expected to rise amid plans to ramp up defence and infrastructure investments.

With Canada’s economy under heavy pressure from U.S. tariffs and a shifting global trade environment, Champagne has billed the hotly anticipated spending plan as a “generational investment” akin to the post-Second World War era.

Interim Parliamentary Budget Officer Jason Jacques estimates this year’s federal deficit will near $70 billion as he raises the alarm about what he expects is an “unsustainable” fiscal path.

This report by The Canadian Press was first published Oct. 6, 2025.