In the news today: Liberals to deliver federal budget today

Here is a roundup of stories from The Canadian Press designed to bring you up to speed…

Liberals set to deliver highly anticipated federal budget today

The federal government is set to unveil its budget today — the Liberals’ first fiscal update in almost a year and the first summary of Prime Minister Mark Carney’s agenda since the party released its spring election platform. Government House leader Steven MacKinnon told the House of Commons on Monday the budget will be affordable and will make Canadians proud by bringing down taxes and creating opportunities for young people. Finance Minister François-Philippe Champagne said the budget will offer “generational investments” and will have “something for every Canadian.”

Government hangs in the balance with budget vote

Finance Minister Francois-Philippe Champagne tables his highly anticipated federal budget today which could end up sending Canadians back to the polls early. Politicians of all stripes have been accusing their rivals of looking to trigger a Christmas election in the lead-up to the budget. Like all government spending plans, the vote on the budget is a confidence vote. That means that if it fails to pass in the House of Commons, the government will collapse and an election will follow. The governing Liberals are three seats shy of a majority, so they’ll need some opposition MPs to either vote for the budget or abstain from the vote.

Here’s what else we’re watching…

Champagne faces big test with first budget

As Prime Minister Mark Carney looks to sell Canadians on his first-ever budget — one that he’s billed as containing both once-in-a-generation capital spending projects and austerity measures — Liberals say he picked the right salesperson for the job. Finance Minister François-Philippe Champagne takes the spotlight Tuesday to present the Carney government’s first fiscal blueprint — a document delayed by half a year during the ongoing tariff war with the country’s closest trading partner. That tariff battle threatens the country’s economy, and forms the backdrop of the entire budgetary plan. Champagne will need to defend spending measures and cuts at the same time, along with a new accounting practice for the budget.

Yukoners wanted change: premier-designate Dixon

Yukon Party Leader Currie Dixon says Yukon voters have opted for change by electing what he calls a “strong Yukon Party majority government.” But Dixon, who will become the Yukon’s first premier born in the territory, also says the territory faces a long list of challenges, which will “require difficult decisions.” Figures from Elections Yukon show Dixon’s party elected or leading in 14 seats, followed by the NDP under Kate White, whose party is elected or leading in six seats. The Yukon Liberal Party under Premier Mike Pemberton is leading in one seat, but Pemberton, who only became his party’s leader in June, lost his bid for a seat in the 21-seat legislature.

Montreal transit strike could test new labour law

A transit strike in Montreal could be the first test of a new law that gives the Quebec government more power to end labour disputes. The Montreal transit agency’s 2,400 maintenance workers have launched a strike that could last for most of November. The work stoppage has limited bus and subway service in the city to peak hours. The workers union says the transit agency is waiting out the clock until a new labour law takes effect at the end of November. The law gives Quebec’s labour minister the power to end a dispute by imposing binding arbitration when a strike or lockout is deemed harmful to the public.

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