The federal budget will be tabled on Thursday, Nov. 5, 2026, Finance Minister François-Philippe Champagne announced in the House of Commons on Oct. 20. It will be the second fall budget under Prime Minister Mark Carney, and the tabling time has not been announced.
Last updated Oct. 27, 2026. We update this page when the Department of Finance Canada publishes new details and again once the budget is tabled.
Champagne said the budget will outline “the next steps in our plan to build a stronger, more resilient and more affordable Canada,” as reported by CP24. The Department of Finance Canada publishes the budget documents at budget.canada.ca once the minister tables them, and that is the place to read the full text.
No measures that would directly affect household finances have been announced ahead of the budget. Details on income tax, benefits such as the Canada Child Benefit or Old Age Security, and other programs will not be known until the budget is tabled. Changes generally take effect only once they are legislated or announced by the Canada Revenue Agency.
The Parliamentary Budget Officer released an economic and fiscal outlook on the same day as the announcement. Parliamentary Budget Officer Annette Ryan said new spending commitments have used up the gains from higher oil prices, according to The Hub. The PBO expects a deficit of $63.3 billion in 2026-27 and says the government will miss its target of balancing the operating budget by a year. Carney has said the government is on track to balance its operating budget by 2027-28, while the PBO projects balance in 2028-29. The finance minister’s office has said the PBO’s assumptions differ from the government’s. Read our full report: Federal budget lands Nov. 5; PBO sees deeper deficits.
The budget lands amid the Canada-U.S. trade war and two days after the Nov. 3 U.S. midterm elections. Defence spending is expected to be a major pressure, with the PBO projecting it will rise from about $75 billion a year to $95.7 billion by 2030-31.
Other money dates come before the budget. The Bank of Canada makes its next rate announcement on Oct. 28, and our Bank of Canada interest rate page tracks the current rate. Payments already scheduled are listed in our CRA benefit payment dates guide and our November benefit payment dates guide. For changes already set, see CPP in 2027 and the new rules starting Jan. 1, 2027.
If you find reporting like this useful, consider supporting Canada News Media, an independent Canadian newsroom with no corporate parent.