SaskatchewanThe new federal budget includes a $5-billion investment in trade diversification. The job market will be impacted, with plans to cut 16,000 public sector jobs across the country this year.Carney’s first budget includes push to open new trade corridorsHalyna Mihalik · Halyna Mihalik · Posted: Nov 05, 2025 6:00 AM EST | Last Updated: 6 hours agoListen to this articleEstimated 3 minutesA canola farmer in Saskatchewan says he’s hopeful about federal promises to increase biofuel initiatives and create more trade opportunities. (Jeff McIntosh/The Canadian Press)Prime Minister Mark Carney’s Liberal government announced its 2025 budget Tuesday, which outlines a deficit of $78 billion for 2025-26, set to lower to $65 billion next year.The federal government is spending $5 billion over seven years on trade diversification, in a push to share Canadian products with the rest of the world amid tariff disputes.Experts say that will help strengthen the Saskatchewan economy in the years to come.“Hopefully the push to open some of these new trade corridors opens our products, which are canola, our uranium, our potash, to new markets and sort of allows us to make the most of these investments,” Devan Mescall, a professor at the Edwards School of Business in Saskatoon, told CBC. The budget also includes $370 million dollars for a new biofuel initiative. A farmer who spoke to CBC said that will also create more of a market for canola and oil seeds.“It really feels like an expanded opportunity for us,” said Lee Moats, a canola farmer in Riceton, Sask.“Biofuel capacity would mean people who can crush it and blend it into our fuel sources. While the relief for canola farmers wouldn’t be immediate, we have to look at things in the long term too.”Tuesday’s federal budget includes $370 million for a new biofuel innitiative. (Kirk Fraser/CBC)Major job cutsThe federal government plans to cut 16,000 public sector jobs across the country this year and 40,000 by 2028.“That does reduce the cost of our public service,” Mescall said. “But those are real people’s jobs.””One thing that’s uncertain is where in the country those will be located, so that together with the impacts of tariffs, we’ll have to keep our eye on unemployment rates.”The budget is also looking to reduce immigration. International students and temporary workers will be impacted by the cuts.Last year, Canada’s immigration plan said they would welcome more than 516,000 temporary residents. Tuesday’s budget will only allow 385,000 temporary residents in the country next year, cutting the number of temporary residents in half.Billions in infrastructure fundingThe budget has $51 billion over 10 years allocated to an infrastructure program called “build communities strong fund.” This would enhance the construction of hospitals, roads and parks.It’s not yet known how much of that money will be spent in Saskatchewan.ABOUT THE AUTHORHalyna Mihalik is a journalist and weather specialist for CBC Saskatchewan. She holds a degree in journalism from the University of Regina. Halyna enjoys stories about advocacy, local politics and rural communities. Send Halyna news tips at halyna.mihalik@cbc.ca
Biofuel initiative announced in federal budget ‘an expanded opportunity,’ says Sask. farmer
