Carney’s Cabinet Searches for Spending Cuts as Defense Bill Grows
Canadian Prime Minister Mark Carney, right, and Minister of National Defence David McGuinty meet with Canadian troops at the Fort York Armoury in Toronto.
Photographer: Cole Burston/Getty ImagesCanada’s finance minister has asked members of cabinet to find billions of dollars in spending cuts as the government looks for ways to pay for a larger defense budget and capital projects.
Finance Minister Francois-Philippe Champagne asked ministers to identify how to cut 7.5% from program spending for the 2026-27 fiscal year, which begins next April, according to two officials with knowledge of the matter.