OTTAWA, Nov. 17 (Xinhua) -- Canada's federal government led by Prime Minister Mark Carney narrowly passed its 2025 budget in a crucial confidence vote in the House of Commons on Monday, averting a general election.
The budget bill was approved by a vote of 170 to 168. As a minority government, Carney's Liberal Party won support from opposition members to secure the victory.
The 2025 budget proposes strategic investments to bolster the country's economic self-sufficiency and resilience amid global uncertainty, and to reduce its reliance on the United States.
Titled "Canada Strong," the first budget since Carney took office is expected to make generational investments in housing, infrastructure, defense, productivity and competitiveness over the next five years through smarter public spending and stronger capital investment, which will enable 1 trillion Canadian dollars (710 billion U.S. dollars) in total investments.
The 2025 budget projects a federal deficit of 78.3 billion Canadian dollars (55.7 billion U.S. dollars) for the 2025-26 fiscal year. The government said its priority is making "generational investments" rather than immediately cutting the deficit.
Carney's Liberal Party formed a minority government after winning the federal election on April 28. ■