The Spring Economic Update 2026 is here!
Over the past year, Canadians have navigated a rapidly changing, and increasingly fragmented, world.
In response, Canada’s new government is focused on what we can control – building a stronger, more independent, and more resilient economy at home. We are moving with speed and ambition to diversify Canada’s trade, build major infrastructure, homes, and industry, and support Canadians by making life more affordable.
The Spring Economic Update 2026 is the next step in our plan to build Canada strong for all. Our plan provides a clear update on Canada’s finances, giving Canadians certainty and confidence in our future, and it drives forward our core missions:
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Build the major infrastructure that transforms and connects our economy.
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Empower Canadians by lowering costs on everyday essentials to help you get ahead.
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Protect our communities, our sovereignty, our borders, and our way of life.
Canada’s new government is fiscally responsible – we have reduced our projected deficit for 2025-26 by more than $11 billion. The Spring Economic Update 2026 ensures all Canadians can participate in building Canada strong and share in its success.
We are building a Canada that is not just strong, but good. Not just prosperous, but fair. A Canada for all, all of the time. Building Canada strong, for all.
Key Measures:
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The Canada Strong Fund
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Canada’s first national sovereign wealth fund. This will invest in key, strategic Canadian projects and companies – and give Canadians a direct stake in building Canada strong.
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Team Canada Strong
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A new nationwide effort to recruit, train, and hire up to 100,000 new skilled trade workers by 2030-31. This initiative creates new opportunities for Canadians and attracts the workers needed to build more homes and major projects at speed and at scale.
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Pausing Fuel Excise Tax
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Until Labour Day, saving Canadians up to 10 cents/L on gasoline and 4 cents/L on diesel.
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Canada Groceries and Essentials Benefit
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Providing support to over 12 million Canadians to purchase groceries and essentials (payments beginning June 5).
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Major Projects Office
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21 nation-building initiatives that will connect, diversify, and propel our economy, supporting 60,000 jobs during construction and over $125 billion in new investment.
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Funding/Maintaining Small Craft Harbours
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To protect the livelihood of coastal communities across the country.
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Canada Investment Summit
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Convening the world’s largest investors, including top CEOs, entrepreneurs, and prominent global business leaders, focusing on attracting new investment into Canada to advance nation-building projects, create new career opportunities for Canadians, and grow our economy.
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Auto Strategy
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Rewarding the production of made-in-Canada vehicles and harnessing our world-class capabilities in artificial intelligence and technology expertise to build the cars of the future, positioning Canada to become a global leader in electric vehicle (EV) production.
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Financial Crimes Agency & National Anti-Fraud Strategy
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Standing up a best-in-class agency to combat financial crimes and protect Canadians.
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Reducing Development Charges & Providing Targeted GST Relief for Homebuyers
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To lower the cost of housing and make it easier for Canadians to purchase a home.
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