Canada’s finance minister asked cabinet to identify how to cut 7.5% from program spending for next fiscal year, Bloomberg News reports

ReutersJul 7, 2025 9:15 PM

View all comments（0）



July 7 (Reuters) - Canada's Finance Minister Francois-Philippe Champagne has asked members of cabinet to find tens of billions of dollars in spending cuts as the government looks for ways to pay for a larger defense budget and capital projects, Bloomberg reported on Monday.

He has asked ministers to identify how to cut 7.5% from program spending for the 2026-27 fiscal year, which begins next April, the report added, citing two people familiar with the matter.

The Globe and Mail was the first to report the news.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Cerebras Systems IPO 2026: Date, Price, Valuation, and Whether CBRS Is Worth Buying

TradingKey - Cerebras Systems (CBRS) IPO prices May 13–14 at $125–$135/share. $26–$27B valuation, 20x oversubscribed, $510M revenue, 47% net margin, OpenAI 750MW deal. Everything you need to know.

SK Hynix Surges 15% to New High: HBM Shortage Until 2028, How Much Longer Can AI Memory King Rise?

TradingKey - During the Asian trading session on May 11, SK Hynix shares rose by more than 15% at one point, hitting an all-time intraday high of 1.949 million KRW, with its market capitalization surpassing $900 billion. The year-to-date cumulative gain is approximately 197.03%, with the share price nearly tripling.

Is Micron the Next Nvidia? Why the 2026 "Memory Crunch" Makes MU Stock a Top AI Buy

While there is still a risk of industry cycles, the current "Memory Crunch" has put Micron in a position of power that the company likely has never had in its 40-year history. For anyone looking to play the physical infrastructure of the future, MU stock is still a top pick for a diversified tech po

U.S. April CPI Preview: Fed May Abandon Rate Cuts Until 2026?

TradingKey - The U.S. Bureau of Labor Statistics will release the April CPI report on May 12 at 8:30 a.m. ET. Since the outbreak of the U.S.-Iran conflict in late February, the global energy market has experienced the most severe geopolitical supply shock in history. As the conflict enters its third month, traffic through the Strait of Hormuz remains significantly below pre-war levels, with approximately 20% of the world's oil transit routes still facing "interruption." This inflation report will serve as a critical validation window for the transmission effects of oil prices.

'Big Short' Burry Doubles Down: Nvidia, Palantir Short Positions Double in Big Bet on AI Bubble Bursting

TradingKey — As the Nasdaq continues to hit consecutive record highs, Michael Burry—who rose to fame during the 2008 subprime mortgage crisis and was the inspiration for the film *The Big Short*—is betting with unprecedented intensity on the bursting of the AI bubble.

Featured Tools