Budget 2025 Is Lowering Costs for Canadians
In a rapidly changing and uncertain world, Canada’s new government is focused on what we can control.
Competition drives productivity, innovation, and affordability. By giving Canadians more choice, we will bring down costs and build a stronger economy.
Budget 2025 launches some of the most ambitious pro-competitive reforms in a generation — measures designed to lower prices, modernize key sectors, and strengthen Canada’s economic foundations.
Today, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, highlighted core Budget 2025 measures that promote private-sector competition and reduce the prices Canadians pay.
what budget 2025 delivers
Canada’s new government is:
Lowering telecom costs by increasing competition, improving access to infrastructure, and cutting red tape.
Modernizing Canada’s financial sector to drive innovation and help smaller financial institutions invest, scale, and compete.
Making banking more fair and affordable by prohibiting registered and investment account transfer fees and improving transparency for cross-border payments.
Regulating stablecoins through new legislation and promoting the responsible adoption of AI in financial services.
These are bold, pro-consumer reforms that strengthen competition and deliver real savings for Canadians.
WHAT BUDGET 2025 DELIVERS
Canada’s new government is:
Lowering telecom costs by increasing competition, improving access to infrastructure, and cutting red tape.
Modernizing Canada’s financial sector to drive innovation and help smaller financial institutions invest, scale, and compete.
Making banking more fair and affordable by prohibiting registered and investment account transfer fees and improving transparency for cross-border payments.
Regulating stablecoins through new legislation and promoting the responsible adoption of AI in financial services.
These are bold, pro-consumer reforms that strengthen competition and deliver real savings for Canadians.
Strong Fiscal Foundations
Canada enters this moment from a position of strength:
Canada has the lowest net debt-to-GDP ratio in the G7 at 13.3% (IMF, October 2025).
Canada has one of the lowest deficit-to-GDP ratios in the G7.
Canada remains one of only two G7 countries with a AAA credit rating.
85% of Canada–U.S. trade remains tariff-free, with Canadian exporters facing the lowest average U.S. tariff of any country at 5.4%.
Budget 2025 rests on two clear fiscal anchors:
Balancing day-to-day operating spending with revenues by 2028–29, while shifting spending toward growth-enhancing investments; and
Maintaining a declining deficit-to-GDP ratio to ensure long-term fiscal discipline.
Over the next five years, Budget 2025 enables $1 trillion in total investments through smarter public spending and stronger capital mobilization.
Building the Financial System of the Future
Budget 2025 also proposes to:
Catalyse investment by insurers and financial institutions by modernizing borrowing and portfolio investment rules under updated guidance from the Office of the Superintendent of Financial Institutions.
Introduce legislation to regulate fiat-backed stablecoins, ensuring adequate asset reserves, clear redemption policies, strong risk management, consumer protection, and national security safeguards.
This ensures innovation happens responsibly — protecting Canadians while positioning Canada as a leader in financial services.
The Big Picture
Federal policy must deliver maximum value to Canadians.
By strengthening competition, modernizing regulation, and maintaining fiscal discipline, Budget 2025 lowers costs today while building a more innovative and resilient economy for tomorrow.
That’s how we Build Canada Strong.
