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Liberals table first fiscal document in seven years that won’t need opposition votes
The update includes a $25 billion sovereign wealth fund and a $6 billion trades plan, while adding new enforcement and anti-money laundering measures.
On Tuesday, Prime Minister Mark Carney's Liberal government released its spring economic update, bolstered by a new parliamentary majority enabling passage without opposition support for the first time in seven years.
Finance Minister Philippe Champagne cited an $11 billion deficit reduction to defend fiscal management, while Conservative Leader Pierre Poilievre called the approach "credit card budgeting," arguing it will increase future costs for Canadians.
The update launches Team Canada Strong, a $6 billion plan to train up to 100,000 Red Seal tradespeople, alongside the $25 billion Canada Strong Fund for infrastructure investment, though funding sources for the sovereign wealth fund remain unexplained.
Proposed measures criminalize cryptocurrency ATM operations and expand law enforcement powers to search and seize mail through amendments to the Canada Post Corporation Act, while streamlining air passenger complaint resolution.
With youth unemployment near 14% in March—more than double the general rate—Team Canada Strong targets job training and housing acceleration, positioning trades workers as central to addressing labor shortages.