Budget 2024: Key numbers from the Liberals’ latest spending plan
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OTTAWA – Here’s a brief look at the key numbers in the Liberal government’s 2025 budget:
$20.1 billion: Total net new government spending for the 2025-26 fiscal year.
$89.7 billion: Total of net new budget spending items over five-year timeline of budget plan, including a projected $51.2 billion in cost savings.
$78.3 billion: The total deficit for this fiscal year — more than double estimates for last year.
Up to 40,000: The number of public service positions the government intends to eliminate over the next three years.
155,000: The number of student visas being issued in 2026, down from about 306,000 in the previous immigration levels plan.
42.4: The federal debt as a percentage of GDP for fiscal 2025-26.
$73 billion: The sum set aside for new defence spending, with $30 billion going to capital investments.
$5 billion: The amount earmarked over seven years for a national trade diversification corridor.
$1 billion: The sum set aside for Arctic infrastructure.
Zero: The number of updates the budget offers on where Canada stands on its 2030 and 2035 emissions targets.
$2.7 billion: Total cuts to foreign aid over four years.
3: The number of opposition votes or abstentions the Liberals must secure to pass the budget.
This report by The Canadian Press was first published Nov. 4, 2025.