Canada's Finance Minister François-Philippe Champagne has directed cabinet ministers to identify tens of billions of dollars in spending cuts as part of preparations for the government's 2025 budget, which is expected in October. Ministers have been tasked with achieving progressive reductions in program spending, starting with a 7.5% cut in the fiscal year beginning April 1, 2026, followed by 10% in 2027-28 and 15% in 2028-29. These measures aim to fund increased government priorities, including a larger defense budget and capital projects. The directive emphasizes finding operational savings by the end of the summer, reflecting the Carney administration's focus on fiscal discipline and reallocation of resources.