Canada's Finance Minister François-Philippe Champagne has instructed cabinet ministers to identify tens of billions of dollars in spending cuts ahead of the government's 2025 budget presentation scheduled for October. Ministers have been directed to achieve program spending reductions of 7.5% in the fiscal year beginning April 1, 2026, increasing to 10% in the following year and 15% by the 2028-29 fiscal year. These austerity measures aim to fund new government priorities, including an expanded defense budget and capital projects. The government is also seeking operational savings across departments, with warnings of potential job losses in some of the largest government agencies as part of efforts to contain the budget deficit. The call for 'ambitious' savings reflects the Carney administration's focus on fiscal restraint while accommodating increased defense expenditures.