#Canadian Federal budgets are traditionally named for the calendar year in which they are tabled, even though they apply to the fiscal year that is either underway or about to start.
As an example, Budget 2025, was delivered on November 4th 2025, and approved by a vote of confidence in the House of Commons on November 17th.
The federal budget is a policy and fiscal plan. It outlines the government's economic priorities, revenue forecasts, new spending intentions, tax measures, and overall deficit/surplus projections.
It does not legally authorize the government to spend money or raise taxes. Parliament must separately approve those through legislation.... after reviewing the plan. For most of 2025, parliamentarians were approving spending, without having seen a budget.
So now, the government shifted its budgeting cycle starting with this one. Budgets are now delivered in the fall (for the current fiscal year), with a spring economic and fiscal update.
Our federal government is now tabling a budget 4-5 months after the start of the fiscal year.
The 2026/2027 fiscal year started on April 1, 2026, and runs until March 31, 2027. Bills C-30 & C-31 are spending requisitions for 2026-2027 based on the spring update and not budget 2025.
