What’s the Latest: Ahead of budget, Poilievre urges Carney to end diesel taxes and cut spending
Conservative Leader Pierre Poilievre has called on Prime Minister Mark Carney to eliminate federal taxes on diesel and reduce government spending ahead of the upcoming budget announcement in Ottawa. Poilievre’s demands include cutting bureaucracy and foreign aid, as he cited projected deficits and additional debt from the Parliamentary Budget Officer.
Prime Minister Mark Carney will unveil the federal budget titled “MASTERS OF OUR DESTINY: BUDGET 2026” on November 5. The Parliamentary Budget Officer has projected a $733 billion increase in debt over the next five years, with a $63.3 billion deficit anticipated for the 2026-27 fiscal year, marking a decrease from earlier forecasts.
Conservative Leader Pierre Poilievre has called on Prime Minister Mark Carney to eliminate all diesel taxes and cut government spending in light of projected rising deficits and national debt. The federal budget, titled “MASTERS OF OUR DESTINY: BUDGET 2026,” is set to be tabled on 5 November, with officials indicating plans for trade discussions aimed at building a mutually beneficial agreement with the United States.
What remains unclear — It is uncertain how the federal government’s upcoming budget will address the projected increase in the deficit-to-GDP ratio.
Poilievre calls for end to diesel taxes and spending cuts ahead of budget
Conservative Leader Pierre Poilievre has reiterated his demand for the federal government to eliminate diesel taxes and reduce spending as Prime Minister Mark Carney prepares to present the budget on Thursday. Poilievre stated, “Conservatives are demanding that he (Carney) cut wasteful spending to bring down deficits, inflation and taxes so Canadians can afford a good life.”
During a news conference, Poilievre cited projections from the Parliamentary Budget Officer (PBO), which estimate an additional $733 billion in debt over the next five years. This figure includes a projected deficit of $63.3 billion for the 2026-27 fiscal year, a decrease from an earlier forecast of $71.8 billion.
In a letter to Carney, Poilievre urged action to reduce government costs, recommending cuts to bureaucracy, foreign aid, and cancellation of the ALTO high-speed rail project between Toronto and Quebec City. He emphasised the need for Carney to “keep your promised debt anchors” and balance the budget.
The PBO has indicated that the government is unlikely to meet its fiscal anchor, with the deficit-to-GDP ratio expected to increase in the coming years. “This budget should be judged against his promise to Canadians,” added Poilievre.
As preparations for the budget unfold, Finance Minister Francois-Philippe Champagne’s office has unveiled the budget’s title: “MASTERS OF OUR DESTINY: BUDGET 2026.” The title draws inspiration from former Quebec premier Jean Lesage’s 1962 electoral campaign. In the context of shifting economic strategies, Carney noted he had a “good conversation” with U.S. President Donald Trump regarding ongoing trade discussions.