Building Together: Budget 2025 and the Work Ahead
Hon Yasir Naqvi MP Ottawa Centre
This October, the Government of Canada will introduce Budget 2025. It will be a chance to chart the path forward: not only to meet the challenges before us, but also to build on the progress already made together.
Some of the highlights we shared earlier this summer included a middle-class tax cut on Canada Day, lowering the federal rate on the first $57,375 of income from 15% to 14%; the passage of the One Canadian Economy Act to cut red tape and boost jobs and growth; Canada’s commitment to meet NATO’s defence target of 2% of GDP this year, with a path to 5% by 2035; progress on new trade and security partnerships with ASEAN, Africa, and the EU; expanding access to dental care for all eligible Canadian residents; and legislation to eliminate GST on first-time home purchases up to $1 million, saving buyers as much as $50,000.
But preparing for Budget 2025 is not simply about what our government believes is best; it’s about listening to Canadians. That’s why, this summer, I sent a newsletter across our community to invite residents to take part in pre-budget consultations, ensuring your voices and priorities shape our decisions.
We asked three questions. Here’s a summary of the top responses from neighbours across our community.
- How can we build one strong economy today and for the future?
Break down internal trade barriers, support Canadian industries, and invest in nation-building projects, while boosting clean tech investment to cap emissions, strengthening trade with reliable partners, and expanding skills training through apprenticeships, co-ops, and reskilling.
- What are the most important ways our government can help Canadians day to day?
Bring down the cost of essentials, build more affordable homes, and improve access to health services, including mental and dental care.
- What should Canada’s priorities be in defence and security?
Invest in smart, dual-use infrastructure (ports, telecommunications, emergency systems), strengthen defence agreements with allies, and ensure the Canadian Armed Forces are well equipped for the future.
These insights reflect what I have consistently heard across Ottawa Centre: people want a government that delivers affordability, invests in workers, and keeps Canada strong at home and abroad. I am happy to share our government has already taken big steps in those directions.
In August, we launched the new Major Projects Office (MPO). The MPO will fast-track critical infrastructure by streamlining approvals to a maximum of two years and coordinating financing for projects in Canada’s national interest. That means ports, railways, energy corridors, critical mineral developments, and clean energy initiatives can be built faster, creating jobs, strengthening supply chains, and growing our economy.
We also resumed trade negotiations with the Mercosur trade bloc, opening new markets for Canadian businesses. We deepened our transatlantic ties with a new agreement with Germany on critical minerals, energy, and defence, and an enhanced partnership with Poland on trade, energy, aviation, and defence collaboration. As Parliamentary Secretary to the Minister of International Trade, I had the honour of representing Canada at the International Defence Industry Exhibition in Kielce, Poland, where I met with diplomats, government leaders, and industry partners to expand our trade and security ties. It was a powerful reminder that Canada is recognized globally as a trusted ally and a nation that brings both innovation and industrial strength to the table.
Furthermore, our government unveiled a multi-billion-dollar plan to strengthen Canada’s workforce and industries. Some highlights include:
- $450 million through Labour Market Development Agreements to retrain and upskill up to 50,000 workers.
- $382 million to launch new Workforce Alliances that bring employers, unions, and industry together to help businesses and workers succeed in a changing labour market.
- A $5 billion Strategic Response Fund to help companies pivot, grow, and secure new markets.
- $1.6 billion to extend Employment Insurance benefits for long-tenured workers.
- A new Buy Canadian policy to ensure federal procurement prioritizes Canadian suppliers and materials.
These investments protect jobs today, equip people with the skills to succeed in a fast-changing economy, and build resilience so Canada can not only withstand global shocks but emerge stronger.
As we prepare Budget 2025, one message is clear: Canadians want a government that listens and delivers—on affordability, opportunity, and Canada’s strength at home and abroad. In the weeks ahead, we’ll work to ensure the budget reflects your priorities, with measures to lower costs, create good jobs, and keep Canada secure—building a stronger, fairer, more prosperous country for everyone.