The fiscal update will be the federal Liberals' first under Prime Minister Mark Carney.

The prime minister has billed the budget as one of both cost-cutting and investment as Ottawa looks to protect Canada's economy against U.S. trade disruption.

The federal budget typically arrives in the spring but the Liberals delayed the update until the fall.

Carney has announced a series of big-ticket spending items since the spring election, including billions of dollars in new spending on defence and infrastructure.

The minority Liberal government will need support from at least one other party to pass the budget in the fall session of Parliament.

This report by The Canadian Press was first published Sept. 16, 2025.