{"id":17203,"date":"2026-11-05T20:54:45","date_gmt":"2026-11-05T20:54:45","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/?post_type=rbc_econ_video&#038;p=17203"},"modified":"2026-11-06T21:07:44","modified_gmt":"2026-11-06T21:07:44","slug":"canadian-budget-2026-windfall-fuels-spending-not-savings","status":"publish","type":"rbc_econ_video","link":"https:\/\/www.rbc.com\/en\/economics\/video\/canadian-budget-2026-windfall-fuels-spending-not-savings\/","title":{"rendered":"How does Canada&#8217;s Budget 2026 deliver on investment and affordability"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"video-wpr\"><video class=\"video-player video-js\" poster=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/11\/Cynthia-Budget-video.00_00_00_00.Still001.png\" src=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/11\/Cynthia-Budget-video_2.mp4\" data-dig-id=\"\" data-dig-category=\"\" data-dig-action=\"video play\" data-dig-label=\"Cynthia-Budget-video_2.mp4\"><p class=\"vjs-no-js\">To view this video please enable JavaScript, and consider upgrading to a web browser that <a href=\"http:\/\/videojs.com\/html5-video-support\/\" target=\"_blank\" rel=\"noopener\">supports HTML5 video<\/a><\/p><track kind=\"captions\" src=\"\" srclang=\"en\" label=\"English\" \/><\/video><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><br><br>Canada\u2019s Budget 2026 follows a familiar playbook: An improved baseline offsets new spending, and keeps fiscal anchors on track. We\u2019ve seen this before. But, how does the federal\u2019s governments two pillars of investment and affordability stack up? RBC Economics\u2019 Cynthia Leach explains how recycling all of today\u2019s fiscal good news leaves less room for what\u2019s ahead.&nbsp; <a href=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/provincial-and-fiscal-outlooks\/budget-analysis\/canadian-budget-2026-windfall-fuels-spending-not-savings\/\" target=\"_blank\" data-dig-id=\"LP-17203-4f079c40\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Read the full article here\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Read the full article here<\/a><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapseb19f1eb0\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapseb19f1eb0\" data-dig-id=\"LP-17203-b19f1eb0\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Transcript\"><div>Transcript<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapseb19f1eb0\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p class=\"wp-block-paragraph\">We\u2019ve seen this before. Budget 2026 follows a familiar playbook.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An improved baseline offsets new spending. And, keeps fiscal anchors on track.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So how do the Carney government&#8217;s two pillars \u2014 investment and affordability \u2014 stack up?&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On investment: No strategic departure or new wins on the trillion-dollar investment goal focused on major projects and defence.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That was expected given the long timelines.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But, the new Productivity Mega Deduction, National Electricity Strategy funding, and a range of supporting measures will help keep Canada well positioned to attract investment over the medium term.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now the mega deduction may be the single most expensive measure in the budget, but investment was not Ottawa\u2019s only focus.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Half of $150 billion in new spending was for day-to-day projects, not capital spending.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On affordability: Ottawa introduced big new spending on Indigenous funding, non-market housing, and direct cost-of-living support.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some of this spending goes beyond today\u2019s acute pressures, and is recurring beyond the forecast horizon.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The bottom line: Recycling all of today&#8217;s fiscal good news leaves less room for future crises or new investments.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Especially with major commitments on defence, health, and childcare still ahead.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It raises the stakes on the government\u2019s fiscal strategy.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That growth dividends from spending and new investment boost the economy and improve federal finances.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But, we\u2019ll only know that it works in a few years.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read more at&nbsp;RBC.com\/economics&nbsp;<\/p>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":345,"featured_media":17200,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","editor_notices":[],"footnotes":""},"categories":[],"rbc_econ_content_type":[],"class_list":["post-17203","rbc_econ_video","type-rbc_econ_video","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.2 (Yoast SEO v28.2) - 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