PM Carney aims to transform Canada’s economy

Prime Minister Mark Carney has outlined some of the promises in the upcoming budget and what’s included when it comes to strengthening Canada’s economy hit hard by tariffs.

He’s set an ambitious goal to double Canada’s non-U.S. exports within the next 10 years.

Carney said yesterday, it would take both sacrifices and time to transform Canada’s economy.

He says the Nov. 4th budget will be ambitious and feature a “nation building” approach to build towards the future.

Carney says the “Rupture” brought by U.S. President Donald Trump’s trade policies means Canada’s economic strategy needs to “change dramatically”.

READ MORE: PM Carney outlines plan for Canada’s economy ahead of federal budget

He says Canada can no longer be overly reliant on the U.S. as a trading partner and warned the bilateral relationship will never be the same.

The upcoming budget is said to be hinged on building, taking control and winning.

That includes making new partnerships with allies like the E.U. and moving forward with the buy Canadian policy to prioritize Canadian materials for Canadian projects.

The upcoming budget passing hinges on the support of other parties.

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But carney vowed to restrain spending and aims to balance the operating deficit within three years by doing more with less.

The upcoming budget passing hinges on the support of other parties and doubles a confidence vote.

If it doesn’t pass, there could be another federal election.

Conservative leader Pierre Poilievre insists the overall budget can’t raise above $42 billion but economists predict it’s already higher than that.

Carney is slated to join Premier Doug Ford today for an announcement this morning at 10 am in Bowmanville where more questions will likely be asked about his speech.