Prime Minister Mark Carney’s first budget will include tens of billions of dollars in cuts and savings over the coming years and a change in the tax structure to promote competition, according to a senior Canadian official — as the government stares down a trade war with its once closest ally and a protracted cost of living crisis.

For weeks Carney has been signalling that Tuesday's budget, his first since coming into power this spring, will be marked by “sacrifices” while offering "generational investments."

Its tabling comes as Canadian industries — including steel, aluminum and the auto sector — continue to be battered by the trade war with the United States.

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The source, who spoke to CBC News on the condition they not be nam

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