The Decibel Key takeaways from the Carney government’s first budget
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Nov 5, 2025 In this insightful discussion, Stephanie Levitz, a Senior reporter for The Globe and Mail, breaks down Carney's budget focus on infrastructure and private sector investments. Bill Curry, Deputy bureau chief, highlights a bold $60 billion savings plan and significant public service job cuts—40,000 jobs, to be precise. Meanwhile, columnist Campbell Clark dives into the controversial immigration levels plan, revealing cuts to temporary resident admissions and foreign students. Together, they dissect the implications of this budget on everyday Canadians.
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Building Blocks Over Big Programs
- The budget reframes government role toward building physical economic “blocks” like infrastructure rather than expansive social programs.
- It aims to pull private-sector investment by offering tax incentives and faster write-offs to spur domestic capital spending.
Deficit Smaller Than Worst Forecasts
- The deficit landed near $78 billion, smaller than some feared due to planned cuts and projected revenue gains.
- The government counts on corporate tax measures and spending reductions to narrow the shortfall.
$89B To Boost Infrastructure And Capacity
- The $89 billion targeted to counter U.S. protectionism prioritizes infrastructure, healthcare facilities, and defense.
- Much of it is framed as investments and tax incentives intended to unlock private-sector follow-on spending.