Canada’s new government to consult on its first federal budget
News release
July 14, 2025 - Ottawa, Ontario - Department of Finance Canada
In the election, Canadians called for change – and Canada’s new government is moving with urgency to deliver this change. Budget 2025 will spend less and invest more to catalyze private capital, unleash investment, and build the strongest economy in the G7.
As the new government prepares for the tabling of Budget 2025 in the fall, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, is launching pre-budget consultations. Starting today, until August 28, 2025, Canadians can participate in the consultations by sharing their thoughts on key issues at Canada.ca/YourBudget.
Consultations will focus on bringing down costs for Canadians – building on measures such as the middle-class tax cut which saves a two-income family up to $840 a year and removing GST on new homes under $1 million for first-time buyers. Consultations will also emphasize job-creation, including measures to build more homes, expedite nation-building projects, and bolster Canada’s defence industrial capacity.
In the weeks to come, the Minister of Finance, alongside Secretary of State, Wayne Long, and Parliamentary Secretary, Ryan Turnbull, will also be meeting with stakeholders and individuals across the country as part of the pre-budget consultation process.
This Budget will deliver on the new government’s mandate to bring down costs, keep communities safe, diversify trade, and build one strong Canadian economy. With a responsible fiscal plan – we will spend less, invest more, and build Canada as an economic force for decades to come.
Quotes
“Budget 2025 will lay out our ambitious plan to build the strongest economy in the G7 and reinvent government for the 21st century. We are eager to hear from Canadians from coast to coast to coast on their priorities and perspectives as we seize this opportunity to shape Canada’s future. Thank you to all those who are planning to participate — your voices are helping build a stronger, more unified Canada.”
- The Honourable François-Philippe Champagne, Minister of Finance and National Revenue
“Canada’s new government is focused on defending our sovereignty, protecting our industries and workers from unjustified tariffs, lowering costs for Canadians, building one strong Canadian economy, and making Canada an energy superpower. These priorities will guide the next federal budget. The pre-budget consultations we are launching today will ensure that voices from across the country shape their government’s plan to build a stronger Canada than ever before.”
- The Honourable Wayne Long, Secretary of State responsible for the Canada Revenue Agency and financial institutions
“As we begin work on the next federal budget, we want to hear directly from you: your hopes, your ideas, and your vision for the future of our country. Over the next few weeks, we will be connecting with Canadians from coast to coast to coast. Whether it’s building a stronger and more united economy, protecting our sovereignty and values, or rethinking how government can better serve people in today’s world, your voice matters. This is your Canada. Let’s shape what comes next, together.”
- Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue
Contacts
Media may contact:
John Fragos
Press Secretary
Office of the Minister of Finance and National Revenue
john.fragos@fin.gc.ca
Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000
General enquiries
Phone: 1-833-712-2292
TTY: 613-369-3230
E-mail: financepublic-financepublique@fin.gc.ca
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