Vote 2025: The Liberal Party of Canada platform

The Liberal Party of Canada’s platform involves both deficit spending and roughly $30-billion worth of cuts. Party leader Mark Carney cites unprecedented times, saying that doing both is necessary to buttress against the economic crisis brought on by the Trump administration. The rough estimate is $130-billion in new spending over the next four years, which will add $225-billion to the federal debt. The biggest source of that additional debt is a one-point reduction to the lowest marginal tax rate, i.e. federal taxes on incomes up to $55,867 will be 14 rather than 15%.

Carney is also pledging to increase defence spending by $18-billion over four years. Carney argues that this would help Canada meet NATO’s “2% of GDP” budget recommendation, while also helping to ensure Canadian sovereignty. He’s further committing $3-billion per annum to a new government agency to build new housing, which it is hoped will double the current number of new housing starts in Canada. The Liberal platform also proposes $4-billion to help convert old buildings into new housing, and in total is proposing about $22-billion in housing-related funding. Another $20-billion or so is earmarked to improve infrastructure, from healthcare to Arctic community building. 

The Liberals have what they’ve termed a “four plank” platform, with new spending gathered into four broad categories: unite, secure, protect, and build. Among others, increased funding for CBC/Radio-Canada, youth mental health, medical school residency programs, rural transit and the arts. 

In sum, Carney’s platform involves a lot of spending meant to keep the economy moving forward in times of severe economic stress and uncertainty, itself brought on by Trump’s trade war. Increasing federal spending to address economic crises is what helped Canada get through the Great Depression. ■

Today, Mark Carney shared his plan to unite, secure, protect and build #CanadaStrong.

Learn more: https://t.co/YIkHOwW9aT

— Liberal Party (@liberal_party) April 19, 2025

The 2025 federal election is happening on Monday, April 28. For more, visit the Elections Canada website.

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