Ottawa’s 2025 federal budget, the first under Prime Minister Mark Carney, promises over $1 trillion in investments over five years while projecting a $78.3-billion deficit. Finance Minister François-Philippe Champagne called it an “investment budget” to strengthen Canada’s economic sovereignty.
Key commitments include $17.9 billion for defence, $1.26 billion for AI and quantum research, and $1.75 billion for venture capital. The budget also expands SR&ED tax credits, renews Elevate IP, and introduces “Buy Canadian” procurement rules. Critics warn high deficits risk future taxes, while innovators hail major gains for tech competitiveness and domestic intellectual property.
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