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Budget 2026: Legault’s Last

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Quebec’s Minister of Finance, Eric Girard, presented the 2026-2027 budget on Wednesday, March 18, 2026 — the last budget of the CAQ government led by François Legault. With less than a month before a new premier takes office and seven months before the provincial general elections, this budget exercise resembles a delicate balancing act.

The document emphasizes what it calls “adequate” funding for the core missions of the state, while also setting aside a “reserve” intended to give the next head of government the flexibility to make new announcements after the budget is tabled.

Without introducing major new spending, the 2026-2027 budget focuses on targeted measures and increased infrastructure investment. These priorities are part of a broader goal of returning to a balanced budget by 2029-2030, after several years of deficits.

Looking more toward the future, the budget highlights the many uncertainties affecting Quebec’s economy, particularly tariff tensions with the United States, and includes investments in innovation and several “high-potential” sectors.

By returning to essentials and ensuring continuity of public services ahead of political changes, this budget is primarily intended as a transitional one. However, its actual lifespan remains to be seen, as does the extent to which the next premier’s priorities will align with this objective of fiscal discipline.

You can find our full analysis of the budget below. For more analysis, or support engaging government on any of the budget announcements, contact your Navigator team or reach out at info@navltd.com.

Alberta’s Tough Choices: Confronting the Challenges Ahead ​

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If Budget 2025 was focused on confronting emerging challenges head-on, Budget 2026 is centred on managing their consequences. Danielle Smith’s UCP government has been consistent with its messaging: persistently low oil prices, continued trade tensions, and sustained population growth have exerted pressure on provincial revenues, public services and infrastructure.

Finance Minister Nate Horner had two options to deal with the hand he’d been dealt – find deep cuts to shrink spending or bet big to reinforce services and stimulate the economy. Minister Horner chose the latter. ​

The consequence of that decision is consecutive deficits: $9.4 billion, $7.6 billion and $6.9 billion over the next three years; a violation of the fiscal framework introduced by the UCP in 2023. ​

Against this backdrop, Budget 2026 identifies two key priorities: Maintaining Alberta’s economic advantage and supporting Albertans. ​

Priority one commits to responsible fiscal management and the ongoing assessment of what “additional measures” could be leveraged to address the province’s fiscal challenges. Priority two focuses on maintaining or expanding core services, including large investments in health care and education.​

Budget 2026 may not be the financial picture the government was hoping to present; however, as stated by Finance Minister Nate Horner, “The road ahead will be challenging to navigate, but Albertans have never needed easy to succeed.” ​

You can find our full analysis of the budget below. For more analysis, or support engaging government on any of the budget announcements, contact your Navigator team or reach out at info@navltd.com.

Cyber Security Concerns Are Growing: Discover’s Ontario Fraud Pulse 2025

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Ontario’s large population, dynamic economic activity and high volume of e-commerce activity make it a hotspot for financial fraud and scams. To better understand how Ontarians are experiencing this threat, Discover—the research arm of Navigator—recently surveyed 4,800 residents across the province.

This brief report explores rising concerns about financial fraud through key demographic lenses. For example, while almost three-quarters (64%) of Ontarians overall feel more vulnerable to financial fraud than just a few years ago, we found that women, Boomers and immigrants to Canada report higher vulnerability.

Whether you work in government, business or civil society these data offer actionable insights to support more informed decision-making.

Download the report below—and if you would like support turning insights into strategy, the Discover and Navigator teams are just a conversation away.

What Canadians Want Next: Navigator Discover’s Post-Election Priority Pulse

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The ballots are counted, the commentary is fading, and now the spotlight shifts to governing. Within 48 hours of the April 28 result, Discover—Navigator’s research arm—surveyed 1,500 Canadians to capture a fresh, data-rich picture of what voters expect from Prime Minister Mark Carney’s first year in office.

Inside this report you’ll find:

  • Economic urgency laid bare – cost of living, jobs, and fiscal discipline dominate a crowded wish-list.
  • Cabinet-clean-slate sentiment – seven in ten Canadians want a brand-new front bench.
  • Cross-party common ground – despite stark divides, Liberals and Conservatives share four of their top five priorities.
  • A wary eye south of the border – tariffs, Trump, and trade realignment shape Canada’s next moves.
  • Confidence—and caution—about the road ahead – where optimism runs high, and where anxieties still simmer.

Whether you advise government, business, or civil society, this forward-looking deep dive reveals the levers that will matter most in the months ahead. Download the full report below—and if you need to translate these insights into strategy, the Discover and Navigator teams are only a conversation away.

A Balancing Act: Ontario’s 2025 Budget

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Coming out of a consequential election with a supermajority, the Conservatives’ Budget 2025 is a product of its time—protecting Ontario against U.S. tariffs and global economic uncertainty threatening Ontario businesses, workers, and investments, even if it makes balancing the budget an uphill battle for 2027-28. More than a defensive posture, the budget declares Ontario open for business and willing to spend for it.

Projected to exceed fall forecasts by nearly tenfold, the budget is expected to yield a $14.6 billion deficit in the 2025-26 fiscal year. The budget deficit outlines a path to balance over the next three years.

Despite running a deficit, the Ford government maintains that a strong economy is the only way to boost government revenue. The government projects the measures announced in the budget will boost Ontario’s GDP by $200 billion and make Canada the most competitive G7 country.

Unprecedented investments in infrastructure, including energy, critical minerals, and transit projects, account for $33 billion in spending in 2025-26. Spending in Budget 2025 will help build Ontario highways, hospitals, mines and a tunnel under the 401. In his address to the legislature, Ontario Finance Minister, Peter Bethlenfalvy, said cutting taxes and investing in the economy would boost future revenues for social services.

You can find our full analysis of the budget below. For more analysis, or support engaging government on any of the budget announcements, contact your Navigator team or reach out at info@navltd.com.