Here are some of the key numbers from the new Federal Budget presented on Tuesday, November 4th.
The new budget contains around 20.1 billion dollars in total net new government spending for the current fiscal year (2025-2026).
The estimated deficit for the current fiscal is 78.3 billion dollars.
Over the next five years, the new items included in the budget will result in 89.7 billion in total net new government spending.
The federal budget includes a major increase of 73 billion dollars more in new defence spending, with about 30 billion dollars going to capital investments.
There are also a number of new cost-reduction and saving measures, with an overall decrease in the size of the public service of up to 40,000 positions over the next three years.
There are also 2.7 billion dollars worth of cuts to foreign aid spending over four years.
The budget includes a number of new investments including five billion dollars for a national trade diversification corridor, and one billion dollars for Arctic infrastructure.
There is also a continuing reduction in the number of student visas being issued, dropping from 306,000 to 155,000 in 2026 and slightly lower than that moving forward (150,000).
Overal, immigration will be capped with the number of permanent residents coming into Canada annually to be held at 380,000 until 2028.
(PAUL MARTIN)
