Federal budget is about ‘changing Canada’s growth model,’ finance minister says

Posted November 2, 2026 9:37 am.

Last Updated November 2, 2026 9:52 am.

TORONTO — Finance Minister Francois-Philippe Champagne says the federal budget he will table later this week is about “changing Canada’s growth model.”

Champagne spoke at the Canadian Club Toronto over breakfast today to give business leaders a preview of what to expect in Thursday’s federal budget.

He said the government is focused on unlocking private investment and boosting productivity, which has lagged for years in many sectors of the economy.

Champagne suggested the budget will talk about how new tax incentives can help small businesses.

He said the big-ticket measures to spur investment, like the productivity mega-deduction, can both help a local café buy a new coffee machine and help get shovels in the ground for an oil pipeline.

The finance minister did not answer directly when asked whether the upcoming budget will offer further details about a planned sovereign wealth fund or a proposal to open Canada’s airports up to private investment.

This report by The Canadian Press was first published Nov. 2, 2026.

The Canadian Press

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