November 4, 2025 – Ottawa, Ontario
Today, Minister François-Philippe Champagne tabled Budget 2025: Canada Strong — a bold plan to make life more affordable, support working families, and build a stronger, more self-reliant economy for all Canadians.
In a world filled with global uncertainty, Budget 2025 focuses on what we can control — strengthening our economy, creating good jobs, and helping Canadians thrive. This is a plan to transform Canada from relying heavily on a single trade partner into a resilient nation that invests in its people, its industries, and its future.
Making Life More Affordable
To help ease the cost of living, Budget 2025 lowers the first personal income tax rate from 15% to 14%, saving up to $840 a year for two-income households. It also launches Automatic Federal Benefits, ensuring that low-income Canadians who don’t file taxes still receive the supports they deserve.
Starting in 2029-30, the National School Food Program will become permanent — helping children across the country access nutritious meals and learn on a full stomach.
Supporting Workers and Young Canadians
A new refundable tax credit of up to $1,100 per year will benefit personal support workers in eligible provinces and territories — recognizing their essential role in communities.
The budget also expands funding for youth training and work-integrated learning, giving young people more opportunities to gain meaningful experience, develop practical skills, and build careers in growing industries.
Tackling Housing and Building Communities
To make homeownership more attainable, Budget 2025 eliminates the GST on new homes priced up to $1 million for first-time buyers, and reduces it on homes up to $1.5 million. The plan also expands the Canada Mortgage Bond program, unlocking thousands of new multi-unit rental homes nationwide.
Strengthening Businesses and Protecting Canadians
To help small and medium-sized businesses grow, the budget launches a $79.9-million Small and Medium Business Procurement Program — opening federal opportunities and strengthening Canada’s domestic supply chains.
Budget 2025 also introduces a new Financial Crimes Agency to fight fraud and online scams, keeping Canadians and their finances safe.
Finally, a 2026–2028 Immigration Plan will help stabilize the system and speed up foreign credential recognition, particularly in the health and construction sectors, ensuring skilled newcomers can contribute fully to Canada’s growth.
Budget 2025: Canada Strong is more than a financial plan — it’s a vision for a more affordable, secure, and empowered Canada. It’s about building a country where everyone has the chance to succeed.
