Members of Parliament are returning to Ottawa for the fall session of the House of Commons, which is set to commence on Monday. This upcoming session promises to be bustling, especially with the impending release of the federal budget, discussions surrounding significant legislation, and several byelections on the horizon.
The Budget
Prime Minister Mark Carney's government has made the unconventional choice to release its annual budget in the fall instead of the traditional spring. This budget will be divided into two sections: an operating budget and a capital budget. Finance Minister François-Philippe Champagne has been engaging with various stakeholders throughout the summer to prepare for the budget, although he has not yet specified an official release date.
During a recent investment summit, Prime Minister Carney hinted that the forthcoming budget would aim for an operating budget balance next year, which would be a full year ahead of schedule. The government forecasted a deficit of $65.3 billion for the current fiscal year in the spring's economic update, but many economists anticipate that high global oil prices will positively impact Canada's financial outlook in the upcoming budget.
Bills
Government House leader Steven MacKinnon indicated that "very significant economic legislation" will be a focal point this fall. Prime Minister Carney announced plans for the introduction of the Building Canada Strong Act, which aims to accelerate the approval process for federal projects with a streamlined motto of "one project, one review, one year."
Additionally, legislation to formalize the extension of the fuel excise tax, initially announced on September 2 due to rising oil prices from the ongoing conflict in Iran, will be introduced. Jobs Minister Patty Hajdu has been tight-lipped about potential proposals to amend the Labour Code, although MacKinnon suggested that "improvements" could be forthcoming.
Controversial legislation will also remain on the agenda with ongoing debates over Bill C-22, the lawful access bill currently in the Senate, as well as the digital safety bill aimed at regulating AI chatbots and restricting social media access for children under 16. Furthermore, a water rights bill for First Nations has been reintroduced; however, critics contend that it is a diluted version of a previous bill that recognized First Nations' rights to clean water on their territories.
Tariffs and Trade
While trade negotiations with the U.S. appear to be stalled for the time being, the matter continues to be a topic of contention. Conservatives are pressing the government to disclose the deal that was negotiated prior to Canada's departure from the talks. Carney has confirmed that Canada's new alliance with the European Union will be brought forward for parliamentary debate, with Conservatives asserting the need for scrutiny of the EU deal and caution against adopting unfavorable European policies on issues like immigration and taxes.
Byelections
This fall will also welcome three new Liberal MPs who recently won byelections in late August. Six additional byelections are anticipated in the coming months across Saskatchewan, Ontario, and Quebec. Notably, Yorkton-Melville will see voters select a replacement for former Conservative MP Cathay Wagantall, while Brantford-Brant South will fill the vacancy left by Larry Brock's resignation.
Following their resignations, two Liberal MPs, Shaun Chen of Scarborough North and former minister Steven Guilbeault from Laurier-Sainte-Marie, will also leave open seats. Meanwhile, voters in two Quebec ridings are preparing to elect new representatives following departures for provincial politics.
Bilateral Meetings with World Leaders
Prime Minister Carney, recently attended meetings in France with the European Parliament, is expected to participate in the United Nations General Assembly this week in New York City. Notably, he will host world leaders interested in diversifying trade beyond the U.S. Next week, Vietnamese President To Lam will make a state visit to Canada, while Indian Prime Minister Narendra Modi is anticipated to visit in December.
Moreover, Carney is scheduled to engage in high-profile international summits in November, including the Association of Southeast Asian Nations in the Philippines, the Asia-Pacific Economic Co-operation forum in China, the La Francophonie summit in Cambodia, and the Group of 20 nations hosted by the U.S. in December.
