The first federal budget tabled under Prime Minister Mark Carney outlines how the Liberal government hopes to balance fiscal discipline with innovation and growth. Beyond the headline numbers on spending and a swelling deficit, it charts new directions for open banking, stablecoins and a “made-in-Canada AI tool,” while introducing new measures to boost defence.

From targeted tax cuts and R&D incentives to updates on carbon pricing, the budget is part of a push to attract private investment and strengthen Canada’s competitive edge amid a trade war with the U.S. It also tries to position Canada to succeed in the global race for advanced technologies like AI and quantum. 

The Logic’s newsroom digs into the Liberal government’s pricey big bets, its plans for cuts, and more in this conversation between economics columnist and editor-at-large Kevin Carmichael, reporters Laura Osman and Claire Brownell, and senior editor Sharon Lam.

Watch the full recording here.

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