OTTAWA — Prime Minister Mark Carney’s first budget bill is now law, marking a milestone for the minority Liberal government.

The budget implementation act, Bill C-15, received royal assent Thursday evening after the Senate gave its final sign-off on the legislation.

The bill passed the House of Commons on recorded division in February, which means members of Parliament gave it the green-light but did not offer unanimous support.

The budget implementation act puts into effect measures outlined in the Liberals’ 2025 budget tabled last fall, that saw the deficit rise to $78.3 billion for this fiscal year.

In that budget, Carney adopted a new fiscal framework that would see Ottawa eventually borrow only for new capital investments while cutting day-to-day program expenses and downsizing the public service.

The prime minister is touting his economic and security agenda in Halifax today at the local chamber of commerce, a day after NATO announced Canada had met the bloc’s defence spending target of two per cent of GDP in 2025.

This report by The Canadian Press was first published March 27, 2026.

Craig Lord, The Canadian Press