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

Prime Minister Mark Carney made an announcement Wednesday evening about the upcoming federal budget and Canada’s plan to build a stronger economy.

Carney promised the nation the fall budget will spark unprecedented private sector investment, while cautioning that some sacrifices will be necessary.

The prime minister said the core fiscal strategy of his government will be to stimulate unprecedented investments in Canada over the next five years. He emphasized that Ottawa has the “fiscal capacity to act decisively.”

During the speech Carney warned Canada can no longer heavily rely on the States as a trading partner after U.S. President Donald Trump’s recent moves with tariffs at levels not seen since the Great Depression. The prime minister added that the relationship between the neighbouring nations will never be the same as it was.

The federal budget is set to be released Nov. 4.

With files from The Canadian Press.