After 18 months, Canada’s business community has been left waiting a long time for a federal Budget. The Canadian Chamber of Commerce’s GDP forecast is still at 1.52% for Q3. Businesses, especially small and medium-sized enterprises are feeling the squeeze from economic uncertainty, rising costs, and ongoing operational pressures.

Belleville Chamber of Commerce CEO, Jill Raycroft shares that "for Belleville and the Bay of Quinte region, Budget 2025 offers cautious optimism. The federal plan emphasizes productivity, innovation, and workforce readiness — key issues for our local manufacturers and small businesses. With new incentives for investment, housing, and skills training, this budget could help attract talent and strengthen local industry.

The Belleville Chamber of Commerce supports the shift toward execution but stresses that results will depend on how quickly these programs reach businesses on the ground."

Nationally the Canadian Chamber of Commerce sees some progress but stays measured.

“Canada has an urgent need to get back to a growing, productive economy,” said Candace Laing, President and CEO of the Canadian Chamber of Commerce. “In this federal Budget, the government has heard business’ call to focus on the economy and has made some tough choices to attract investment. Individual businesses — small, medium and large — will be the ultimate judges of whether this is enough to start making investments in Canada again.” 

In a year marked by extra costs, supply chain challenges, and slowed spending — especially for small business owners — this budget may offer a path forward. But execution and speed will be key.

READ FULL STATEMENT from Canadian Chamber of Commerce