Prime Minister Mark Carney said his government will be reining in spending in the upcoming federal budget, citing concerns with the growth of government spending relative to Canada’s economic growth.
Carney told reporters ahead of a cabinet retreat on Sept. 3 that the federal government’s spending had been increasing by an average of 7 percent a year for more than a decade.
“That’s twice the rate of growth of the economy on average. It’s not a sustainable situation. So we need to rein in spending. We need to find efficiencies,” Carney said.
The same day, the federal government concluded six weeks of consultations ahead of Budget 2025, which involved 50 roundtables and 60 bilateral meetings with business leaders, workers, unions, and entrepreneurs across the country. More than 84,000 people also shared their views on the upcoming budget online as part of public consultations, the government says….