Prime Minister Mark Carney’s first federal budget, unveiled this week, brands itself as an “investment budget” focused on long-term economic transformation — but delivers only limited direct benefits for everyday Canadians.
While most of the $60-billion fiscal plan centers on big-ticket infrastructure and productivity measures, several smaller initiatives target consumers, families, and youth. Among them are a federal review of bank and ATM fees, expanded youth job programs, and easier access to the Canada Disability Benefit.
The government says the budget represents a “generational shift” that demands courage and ambition rather than caution. Yet personal finance experts say the measures offer little immediate relief for households struggling with affordability and housing pressures. “The budget focuses more on businesses than on the average Canadian,” said financial analyst Tim Cestnick, noting that much of the spending supports investment rather than consumer assistance.
One notable measure is a commitment to streamline the Canada Disability Benefit. Ottawa has earmarked $115.7 million over four years to offset the costs of obtaining Disability Tax Credit certifications and improve access to payments of up to $2,400 a year.
The government is also pledging to review consumer banking fees — including e-transfer and ATM costs — with recommendations expected next year. Deposit rules will be updated to allow Canadians faster access to their funds, increasing the immediate availability on cheque deposits from $100 to $150.
Carney’s fiscal blueprint maintains several cornerstone social programs from the Trudeau era, including $10-a-day childcare, dental care, pharmacare, the Canada Child Benefit, and the newly permanent National School Food Program, which will receive $1 billion over five years.
The budget also adjusts the Medical Cannabis Benefit for veterans and RCMP officers, cutting reimbursement rates from $8.50 to $6.00 per gram to align with current market prices — a change expected to save $4.4 billion over four years.
For youth, Ottawa has expanded the Canada Summer Jobs program to fund approximately 100,000 positions next summer, up from 76,000 last year, amid rising youth unemployment rates.
In a lighter cultural touch, the budget even floats the idea of working with CBC/Radio-Canada to explore Canada’s participation in the Eurovision Song Contest. It also invests $48 million in the Canada Music Fund and $127.5 million in the Canada Media Fund to bolster domestic music and film industries.
Though branded as forward-looking, Budget 2025 has drawn mixed reviews — praised for its vision but criticized for offering few immediate gains to Canadians grappling with the high cost of living.