The federal government released its latest budget on Thursday, with key spending commitments that will be of interest to Operating Engineers, especially in energy, housing, infrastructure and major projects.
Budget 2026: Masters of our Destiny expands Prime Minister Mark Carney’s Invest in Canada program, aimed at diversifying and protecting Canada’s economy. In total, the government has pledged $400 billion in capital investment over the next five years and $22 billion of new affordability measures.
The latest budget includes $4 billion in a national electricity strategy, launching renewable energy and grid modernization projects across Canada, including major support for major transmission infrastructure such as high voltage lines. With demand for electricity expected to double by 2050, Canada’s nuclear power sector is also being strongly supported.
Adding to this, $44.7 billion dollars has been committed to housing, including the expansion of non-profit and co-op housing.
To support these major projects, the government has said it will continue to prioritize the recruitment and training of skilled workers.
Local 793 Business Manager Mike Gallagher welcomed the major investments in infrastructure and energy.
He said, “Prime Minister Carney is right to focus on making our country much more energy independent and these major investments, especially in the energy sector, is good news for our members.
“With new measures in place aimed at tackling the housing crisis, including by building more non-profit and transitional housing, that will not just provide more work for members in a sector that has been struggling, but give more of our young people the chance to get a foot on the housing ladder.”
With $142.1 billion in fresh spending announced, the federal deficit is projected to hit $62.3 billion for 2026-27.
Ontario’s budget, announced last week, outlined Premier Doug Ford’s strategy to protect workers, businesses and communities while strengthening the province’s economy.
The plan includes targeted investments to support key industries affected by tariffs and enhance Ontario’s competitiveness, as well as attracting investment and creating good-paying jobs in sectors such as advanced manufacturing, critical minerals mining and refining, artificial intelligence and defence.
Business Manager Gallagher welcomed the government’s investment in workforce training, infrastructure and key industries, but noted that more could be done in areas such as housing, healthcare and education.
He said, “We can give the government credit where it’s due, but we can’t ignore the fact that people are still struggling to find housing, and too many are still homeless.
“In healthcare, it does nobody any good to be waiting in a hallway because there aren’t enough nurses or hospital beds. Why isn’t more money going toward healthcare when the need is so clear?
“I’m also concerned about the Ontario government’s lack of investment in education, beyond strictly skills training where they have been very supportive. But our members also have children going to college or university for careers in other key areas, such as medicine and the law. In the past, support for universities and colleges was higher with OSAP and grants.
“I would encourage the government to think holistically about the province’s needs and better support healthcare and education for citizens.”
The Business Manager also raised concerns about the impact of higher interest rates following the Bank of Canada’s recent decision to raise rates by 25 basis points to 2.50%, arguing that families are already feeling the pressure of rising costs.
He said, “You can’t tell people not to eat or not to drive to work. Raising interest rates puts even more pressure on people who are already struggling.”
