On this edition of Journal: an in-depth look at the recent federal budget with one of Canada’s top economists, Jock Finlayson.

You know, a lot has changed recently in how budget information is released. It used to be considered a major failure if anything was leaked before the minister stood up in Parliament and officially read the document into the record. This was to prevent insiders from using information for their own benefit.

In 1983, Marc Lalonde found himself in hot water because he had let a television crew into his office while the yet-to-be-released budget lay on his desk.

In 1989, Michael Wilson took responsibility when a leaked copy was handed to a reporter from a recycling plant. Michael didn’t resign but this was recognized to be a serious misstep.

Not anymore. Now, prereleasing budget initiatives is regarded as performance art. In the weeks leading up to Budget Day in Parliament this year, minister after minister would discuss initiative after initiative that would be included. Housing? We’ve got something for that. Critical minerals? We’ve got that covered.

Prime Minister Mark Carney even gave a speech promising the budget would be transformational, generational – whatever that means.

So while politicos probably regarded all the early positive stories to be a successful manoeuvre, it kinda backfired when Budget Day headlines said: “Over promised, under delivered” or “Big day wasn’t quite as advertised” or “Carney’s budget misses the mark.”

So what should we really be taking away from the government’s financial blueprint in 2025? Jock Finlayson has some warnings we should pay attention to.

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