Canada's new budget increases investment to reduce dependence on the United States Xinhua News Agency, Ottawa, November 5 (Reporter Lin Wei) The Canadian Ministry of Finance released the 2026 budget in Ottawa, the capital, on the 5th. This "seize your destiny" themed budget introduces a series of measures, including reducing the tax burden and starting the country's "investment supercycle" to improve the country's economic independence and international competitiveness and reduce dependence on the US. The budget announced that Canada-US relations will not return to the past, and the Canadian economy cannot continue to rely on the American market. Although it will take some time to reduce dependence on the United States, the transformation has already begun. The budget shows that in order to attract global investment and increase domestic productivity, the Canadian government plans to launch major tax policy reforms such as the "excess productivity credit" and significantly reduce Canada's marginal effective tax rate on new business investment from 13% to 6.4%, which will lead to capital investment of C$400 billion over the next six years. According to the budget, the Canadian government plans to invest 50 billion Canadian dollars to double the capacity of the electricity grid by 2050; At the same time, it will increase investment in nuclear energy and key minerals to establish its position as a global energy power. According to the budget, the federal government expects the fiscal deficit to reach C$62.3 billion in the 2026-2027 fiscal year, and the deficit will exceed $50 billion in each of the next four years. The budget will promote the implementation of two of Canada's fiscal goals, namely achieving a daily operating balance of payments in the 2027-2028 fiscal year, one year earlier than originally planned, while at the same time continuing to reduce the deficit rate in the gross domestic product.

Canada's new budget increases investment to reduce dependence on the United States Xinhua News Agency, Ottawa, November 5 (Reporter Lin Wei) The Canadian Ministry of Finance released the 2026 budget in Ottawa, the capital, on the 5th. This "seize your destiny" themed budget introduces a series of measures, including reducing the tax burden and starting the country's "investment supercycle" to improve the country's economic independence and international competitiveness and reduce dependence on the US. The budget announced that Canada-US relations will not return to the past, and the Canadian economy cannot continue to rely on the American market. Although it will take some time to reduce dependence on the United States, the transformation has already begun. The budget shows that in order to attract global investment and increase domestic productivity, the Canadian government plans to launch major tax policy reforms such as the "excess productivity credit" and significantly reduce Canada's marginal effective tax rate on new business investment from 13% to 6.4%, which will lead to capital investment of C$400 billion over the next six years. According to the budget, the Canadian government plans to invest 50 billion Canadian dollars to double the capacity of the electricity grid by 2050; At the same time, it will increase investment in nuclear energy and key minerals to establish its position as a global energy power. According to the budget, the federal government expects the fiscal deficit to reach C$62.3 billion in the 2026-2027 fiscal year, and the deficit will exceed $50 billion in each of the next four years. The budget will promote the implementation of two of Canada's fiscal goals, namely achieving a daily operating balance of payments in the 2027-2028 fiscal year, one year earlier than originally planned, while at the same time continuing to reduce the deficit rate in the gross domestic product.