OTTAWA (Reuters) -Canada's main federal budget will be released in the autumn from the current year onwards rather than in the spring, finance ministry officials said on Monday.
This year's budget, which will be unveiled in Parliament on Nov. 4, will be Prime Minister Mark Carney's first. Analysts and economists are watching how the government reconciles an increasing deficit with massive capital expenditure plans.
The federal budget will be tabled in the autumn, with an economic and fiscal update
released in the spring, the finance ministry said in a statement.
"This change will provide the certainty and predictability needed to plan ahead and ensure projects can begin as soon as construction season starts – helping every level of governmentmake smarter, faster investment decisions," the statement said.
Canada's main budget, which was usually released in April, was delayed due to federal elections. The government now plans to introduce a framework for the budget that will distinguish between operational spending and capital spending.
This new framework will guide decisions and help prioritize investments that generate long-term benefits for Canadians, such as major projects, housing, clean energy, and infrastructure that will help grow our economy and attract private investments, the finance ministry said.
(Reporting by Promit Mukherjee; Editing by Chizu Nomiyama )
