Finance minister says budget will offer no surprises, make ‘generational investments’

Minister of Finance and National Revenue Francois-Philippe Champagne speaks with reporters as he makes his way to caucus on Parliament Hill, Wednesday, Oct. 22, 2025 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

OTTAWA — Finance Minister Francois-Philippe Champagne says there will be “no surprises” when he tables a federal budget Tuesday that he promises will offer “generational investments.”

Champagne told a press conference in Saint-Tite, Que., Monday morning the budget bill will have “something for every Canadian.”

“We’re moving from reliance to resilience, from uncertainty to prosperity. We’re going to do the kind of things that will make this country stronger, and everyone will see themselves in that budget,” he said.

“So that’s why I would expect the opposition parties to be supportive.”

The government has said this budget -- Prime Minister Mark Carney’s first -- is built around boosting investment in Canada and shifting trade away from an increasingly protectionist U.S. under President Donald Trump.

Carney’s minority government will need the support or abstention of some opposition MPs to pass the budget bill and avoid an early election. The government is three votes shy of being able to pass the budget on its own.

The Conservatives, Bloc Quebecois and NDP have stated publicly what they want to see in the budget in exchange for their support.

On Sunday, Conservative Leader Pierre Poilievre told a press conference in an Ottawa suburb his party would be willing to support an “affordable” budget.

He said the budget should eliminate the industrial carbon tax and the capital gains tax, and lower taxes on energy and homebuilding.

While interim NDP leader Don Davies told CBC News his caucus will wait to see what the budget holds, he has not ruled out NDP MPs abstaining from the budget vote.

Davies said in an emailed statement Monday that “all options are on the table” and his party is focused on the needs of working Canadians.

“I think it’s clear that Canadians don’t want an election, but that outcome is entirely up to the prime minister whose job it is to secure majority support for his policies,” Davies said.

Bloc Leader Yves-Francois Blanchet has said his party is unlikely to support the budget unless its demands are met. They include increasing old-age security payments and boosting health transfers to the provinces.

Fred DeLorey, Conservative campaign manager in the 2021 election, told The Canadian Press that it’s the government’s responsibility to get the handful of opposition votes it needs to avoid an election.

“It’s not the opposition’s job to pass the budget. The government has to make the case and get the vote. And if they don’t, that’s on them,” he said.

“There could still be negotiations and discussions to change things, and they will need to find those votes if they want to survive.”

Champagne purchased a traditional pre-budget pair of dress shoes from Quebec manufacturer Boulet Boots on Monday. Champagne said that he chose the shoes as a way to symbolize the importance of investing in Canadian businesses.

This report by The Canadian Press was first published Nov. 3, 2025.

By David Baxter

With files from Craig Lord and Anja Karadeglija.