Break In Case of Emergency The 2025 budget, unpacked
11 snips
Nov 5, 2025 
In this discussion, expert Alex Hemingway, a Senior Economist at BC Policy Solutions, helps unravel the complexities of the 2025 federal budget. He highlights contradictions between lofty goals and cuts to public services. They delve into the limitations of the Climate Competitiveness Strategy and question the effectiveness of private investments in housing. Additionally, they explore untapped revenue potentials like wealth taxes, suggesting that a targeted tax could raise $40 billion in the first year. Political strategies to drive change also come into focus.
AI Snips
Chapters
Transcript
Episode notes
Nation-Building Rhetoric Vs. Cuts
- The Carney government presents nation-building rhetoric while cutting public service capacity and doubling down on fossil fuels and military spending.
- Alex Hemingway calls this contradictory and argues it undermines long-term infrastructure and climate resilience.
Housing Promises Lack Scale
- Build Canada Homes and a $50B local infrastructure fund are positive but much is repackaged and small in scale.
- Hemingway warns the announced housing units and policies fall far short of the scale needed for non-market and market housing.
Austerity For Services, Not For Elites
- The budget cuts $60B in program spending and 40,000 federal public service jobs while running a larger deficit driven by tax cuts and military spending.
- Seth Klein argues spending rises alongside austerity because revenue was forgone via tax cuts benefiting the wealthy.