The Chamber of Commerce Brantford-Brant (CCBB) says the federal government’s new budget takes meaningful steps toward long-term economic growth and labour market resilience, while noting that more emphasis is needed on domestic training to ensure local readiness for major national projects.
Unveiled in Ottawa on November 4, Budget 2025: Canada Strong sets out a five-year plan to transform the country’s economy through a $1 trillion (CAD) investment strategy aimed at building housing, infrastructure, and industries “by Canadians, for Canadians.”
Presented by Finance Minister François-Philippe Champagne, the budget promises to spend less on government operations and more on productivity, competitiveness, and workforce development — including $60 billion in savings and new revenues over the next five years.
According to the federal government, Canada Strong is designed to make the economy “more self-sufficient and resilient to global shocks,” while maintaining fiscal discipline through two key anchors: balancing day-to-day operating spending with revenues by 2028–29, and maintaining a declining deficit-to-GDP ratio.
The government points to Canada’s lowest net debt-to-GDP ratio in the G7 (13.3%), a AAA credit rating, and strong trade ties — with 85% of trade with the U.S. tariff-free — as indicators of fiscal capacity to support its investment plan.
Chamber CEO David Prang said the 2025 budget aligns with many priorities identified by local employers, particularly in addressing labour shortages and strengthening investment incentives.
“We’re encouraged by the stronger emphasis on economic immigration, which is crucial for addressing long-term labour needs in sectors like construction, manufacturing, and healthcare,” Prang said.
“Sector-specific immigration strategies would make this even more effective.”
Prang also welcomed the budget’s increased focus on workforce and skills development, particularly through Work-Integrated Learning initiatives, which he said are “vital for improving labour market readiness — a top priority for local small and medium-sized businesses.”
Several measures announced in the budget are expected to have a direct impact on Brantford–Brant employers, including the Foreign Credential Recognition Action Fund, aimed at improving healthcare staffing, and renewed investments in transportation and housing-related infrastructure that could drive local economic activity.
The Chamber also highlighted new tax incentives such as the Productivity Super-Deduction and Accelerated Investment Initiative, which provide 100 percent depreciation for productivity-enhancing investments — a move that aligns Canada’s tax competitiveness with recent U.S. measures.
However, Prang noted that while economic immigration is welcome, the budget underemphasizes domestic skills development, which could leave Canadian workers unprepared for major infrastructure and industrial projects.
“It’s encouraging to see Ottawa invest in long-term productivity, but we must ensure Canadians have the training and tools to fill these new opportunities,” he said.
Overall, the Chamber characterized Budget 2025 as a shift away from consumption-based spending toward investment in growth and competitiveness.
“This year’s budget is built for businesses ready to invest and grow,” Prang said.
“It prioritizes strategic sectors like artificial intelligence, infrastructure, transportation, and defense — and Brantford–Brant, with its central location and skilled workforce, is ideally positioned to benefit.”
The Chamber’s statement reflects a cautiously optimistic view from the local business community, which sees opportunity in Ottawa’s renewed focus on productivity and workforce development — provided that federal and provincial programs work together to close Canada’s skills gap.
