Budget 2025

Where the $60 Billion in Federal Cuts Will Actually Land

Budget 2025 (tabled November 4, 2025 by Finance Minister François-Philippe Champagne) outlined $60.6 billion in spending reductions over four years, including a 40,000-position reduction in the federal public service — with an estimated 10,000 jobs cut in the first three years. The departmental plans released in March 2026 specified where the cuts land: the Canada Revenue Agency, Public Services and Procurement Canada, and Employment and Social Development Canada face the largest workforce reductions. The Spring Economic Update scheduled for April 28, 2026 will reforecast against these numbers.