OTTAWA, Ontario — Canada faces a rapidly changing and increasingly uncertain world. The rules-based international order and the trading system that powered Canada’s prosperity for decades are being reshaped – hurting companies, displacing workers, causing major disruption and upheaval for Canadians.

A press release from the Department of Finance Canada states the following: 

"In the face of global uncertainty, Canada’s new government is focused on what we can control. Budget 2025: Canada Strong is our plan to transform our economy from one that is reliant on a single trade partner to one that is stronger, more self-sufficient, and more resilient to global shocks. Our plan builds on Canada’s strengths – world-class industries, skilled and talented workers, diverse trade partnerships, and a strong domestic market where Canadians can be our own best customers. We are creating an economy by Canadians, for Canadians.  

We are building Canada Strong. This is a plan to build the major infrastructure, homes, and industries that grow our economy and create lasting prosperity. This is a plan that will protect our communities, our borders, and our way of life. This is a plan to empower Canadians with better careers, strong public services, and a more affordable life. We are building a stronger economy so that Canadians can build their own future.

To do that, Canada’s new government is delivering an investment budget. We are spending less on government operations – and investing more in the workers, businesses, and nation-building infrastructure that will grow our economy. Budget 2025 delivers on the government’s Comprehensive Expenditure Review to modernize government, improve efficiencies, and deliver better results and services for Canadians. It includes a total of $60 billion in savings and revenues over five years, and makes generational investments in housing, infrastructure, defense, productivity, and competitiveness."

One of these generational investments is helping the forestry and softwood lumber sector transform to remain competitive. These measures will help unlock the industry's full potential to keep pace with increased housing and major infrastructure construction. This includes: 

• Up to $700 million over two years on a cash basis, starting 2025-26, in loan guarantees administered by the Business Development Bank of Canada, to help ensure companies have the financing and credit support they need to maintain and restructure their operations during this period of transformation.
• $500 million over three years on a cash basis, starting in 2026-27, to renew and expand existing Natural Resources Canada's forestry programs focused on market and product diversification (including new export initiatives). It also includes a commitment to prioritise Canadian materials in construction and changing federal procurement processes to require companies contracting with the federal government to source Canadian lumber.

The overview report of the Budget states: "Budget 2025 is Canada’s new government’s plan to address these challenges from a position of strength, determination, and action. We plan to take control and build the future we want for ourselves, as a people and a country. It is our plan to build Canada Strong."

Other key takeaways from the 2025 Budget is that Canada is looking to:

• Build a stronger economy that does not rely on one trade partner.
• Strengthening from reliance to resiliency in global trade shifts.
• Empowering Canadian culture, values, way of life, and affordability across the country.
• Protecting the sovereignty and security of Canadians.

• Creating a more efficient and more effective government. 

  To read the full plan, visit budget.canada.ca.