latest news in fiscal policy
House Approves Omnibus Budget Bill Following Strategic Liberal Concessions
Ottawa, Friday, 27 February 2026.
On February 26, 2026, the Canadian House of Commons passed the Liberal government’s Budget Implementation Act (Bill C-15), officially sending the legislation to the Senate for final review. This legislative milestone was achieved through a notable instance of cross-party negotiation, where the governing Liberals accepted specific amendments proposed by the Conservative opposition to break a months-long deadlock. The most intriguing aspect of this compromise involves new checks on executive power: the amendments mandate a 30-day public consultation period before the government can grant ‘regulatory sandbox’ exemptions to federal laws, while explicitly protecting accountability statutes like the Conflict of Interest Act. This development ensures that while the fiscal measures from the November 2025 budget move forward, they do so with enhanced parliamentary oversight and transparency mechanisms regarding regulatory changes.