Finance Minister François-Philippe Champagne announced that there will be no spring budget for 2025, but a fall economic statement will follow a throne speech on May 27. He emphasized the government’s priority of cutting the lowest income tax bracket by one percent, which will be introduced soon after the House of Commons reopens on May 26. This decision marks a departure from previous plans initiated by his predecessor, as the last time a spring budget was not tabled was during the onset of the COVID-19 pandemic in 2020.