OTTAWA
The Liberal government tabled a federal budget Tuesday that commits $151.5 billion in new spending over five years to spur private investment and major projects.
Finance Minister François-Philippe Champagne's 2026 budget, titled "Masters of Our Destiny," projects a deficit of $62.3 billion for the 2026-27 fiscal year, with annual deficits in the $50-billion to $60-billion range forecast over the next five years.
The government plans to spend nearly all of a major revenue windfall driven largely by soaring global oil prices, leaving its bottom line largely unchanged.
"The government described the budget as aiming to build a stronger, more independent and competitive economy," according to the budget documents.
A centrepiece measure is a capital gains exemption on the sale of qualifying shares in tech and life sciences corporations, up to a limit of $15 million.
The government framed the measure, which appears modeled on the United States' Qualified Small Business Stock regime, as a way to attract investment and support the growth of homegrown firms.
The budget also includes a plan to modernize the small business deduction, aiming to help small and medium-sized enterprises invest, grow and manage uncertainty.
Officials said the package would lower compliance costs and improve access to capital for smaller firms, steps meant to complement the capital gains exemption and other incentives.
The budget aims to boost private-sector investment and major nation-building projects, including doubling the capacity of Canada’s energy grid.
Regulations and program rules for the new measures are expected to follow in the coming months, with the government signaling a multi-year approach to implementation.
In other business news, U.S.-based Advanced Micro Devices Inc. announced it will pay about US$2.9 billion for Toronto-based semiconductor startup Taalas Inc.
AMD’s acquisition of Taalas, which develops specialized chips for artificial intelligence systems, is one of the largest known transactions involving a Canadian technology company.
The deal, announced in August, includes US$1.4 billion contingent on unspecified conditions and is still subject to regulatory approval.
Taalas was founded just three years ago.
In the United States, Florida residents voted Tuesday to pass major property tax cuts that may shift more of the burden onto Canadian snowbirds who own property in the state.
By a 62 percent majority, Floridians approved a state constitutional amendment that will give property-tax relief to state residents who use their Florida property as their primary residence.
Most Canadian snowbirds who own property in the state as second homes will not qualify for the exemptions and would be required to pay full freight on the assessed value of their homes.
Starting in 2027, the maximum annual tax on properties that are not primary residences will fall from 10 percent to 5 percent, which could slow future property tax increases for Canadian owners.
But experts say that change does not outweigh the other expenses associated with owning a vacation home in Florida, including high insurance premiums, condo fees and the weak Canadian dollar.
The vote occurred during U.S. midterm elections where the Democratic Party won back control of the House of Representatives and the Senate.
e2gold.ca reported earlier this week that the economic fallout from tariffs was a major issue in battleground states, with voters citing job losses and a drop in Canadian tourism.
In Alberta, landowners are being caught up in a race to capitalize on demand for data centres, as the world’s technology giants drive a global gold rush for artificial intelligence capacity.
Alberta is determined to be a top location for these massive investments, with projects like a proposed 1,494-megawatt natural gas plant meant to power a neighbouring hyperscale data centre.
This story was written by the e2gold.ca newsroom from reporting by The Globe and Mail and Rich Picks Daily. Quotes are checked word for word against that reporting.