Carney promises ‘ambitious, prudent’ budget this fall

Prime Minister Mark Carney speaks to reporters in Rome after attending Pope Leo’s inaugural mass.

ROME — Prime Minister Mark Carney said Sunday the Liberal government will present a federal budget in the fall, allowing time for clarity on some key economic and fiscal issues to emerge.

Speaking to reporters Sunday in Rome, Carney defended his government’s decision not to deliver a budget this spring, saying there is little value in rushing the process.

Carney noted a new session of Parliament begins with a throne speech on May 27, but the House of Commons is due to rise less than a month later.

Opposition parties recently attacked Carney for being vague about his plans after his government said it would not table a budget before members of Parliament leave for the summer.

Finance Minister Francois-Philippe Champagne said instead of a spring budget, the government would put forward an economic statement -- which is usually less comprehensive than a full budget -- in the fall.

Carney made it clear Sunday the document will be a full-fledged budget.

He said there will be more clarity in coming months on Canada’s defence spending plans, the overall economic outlook and how to make the federal government more efficient.

“We will have a much more comprehensive, effective, ambitious, prudent budget in the fall,” he said.

“You do these things right, and that’s what we’re going to do.”

Carney said the annual NATO summit, to be held in late June in the Netherlands, will have “budgetary implications” for Canada.

In addition, he indicated a desire to have further discussions with the United States, which has hit Canada with a barrage of tariffs, to help bring “greater clarity” on the economic relationship between the two countries.

After taking questions from the media, Carney met with U.S. Vice-President JD Vance to discuss Canada-U.S. relations and Ukraine.

Political leaders from around the world were in Rome as Pope Leo XIV presided over his inaugural mass Sunday in St. Peter’s Square.

The prime minister was seated in the second row with his wife Diana for the mass, in a section among other world leaders and heads of state.

Carney, a devout Catholic, was one of the few world leaders to kneel during the blessing of the Eucharist, and he was twice spotted using his phone to take photos of the Pope to mark the occasion -- before the mass started and after it had concluded.

Following the mass, he, his wife and daughter Cleo briefly met the Pope inside St. Peter’s Basilica.

Carney had a bilateral meeting with German Chancellor Friedrich Merz earlier Sunday before heading to the Vatican. He had similar meetings with leaders of Italy, Ukraine and the European Union on Saturday.

Thirteen Canadian MPs also attended the mass, including Jaime Battiste, who was part of a reception with Canadian Catholic cardinals on Saturday in Rome along with the prime minister.

The Nova Scotia MP had eagerly anticipated hearing how the Pope “sets the tone” for his leadership.

“It’s kind of like our version of the speech from the throne as members of Parliament,” Battiste told reporters outside Canada’s official residence on Saturday.

Pope Leo -- the first American to hold the title -- called for unity in his homily.

“In this time, we still see too much discord, too many wars caused by hatred, violence, prejudice, the fear of difference, and an economy that exploits the Earth’s resources,” he said.

Indigenous leaders have long called on the Vatican to repatriate thousands of Indigenous artifacts taken from communities in Canada. The late Pope Francis had expressed a willingness to return colonial-era artifacts in the Vatican Museum.

Battiste said the return of the artifacts came up in his meeting with the cardinals, and their repatriation is an important step toward reconciliation.

“I’ve always said that reconciliation is a journey, not a destination, and we all have steps to take on that journey,” Battiste said.

-- With files from Jim Bronskill in Ottawa

This report by The Canadian Press was first published May 18, 2025.