08:53 AM EDT, 10/27/2025 (MT Newswires) -- Prime Minister Mark Carney's administration in Canada is "hotly focused" on the Fall budget set for Nov. 4, said Scotiabank.

The Liberal House leader, Steven Mackinnon, continues to advise that Carney's minority government doesn't have enough votes at present to pass the coming budget, noted the bank.

That could easily change, but trade negotiations with the United States aren't the most important issue for Carney at the moment, stated Scotiabank.

As for a new parliamentary election, it's unclear whether it would reveal any different outcome than the one held on April 28, pointed out the bank. Polls show the Liberal Party barely has an edge over the Conservatives on average across the most recent polls and that not that much has changed since the April election, although the latest one by Ekos may reflect voter sentiment toward some of the recent stumbles by the Conservatives.

Anything can happen in an election, but Scotiabank believes that Carney is better positioned to fight one.