The government of Prime Minister Mark Carney unveiled a program of big spending to spur Canada’s economy and reduce its dependence on the United States.

The prime minister has promised "generational investments" and warned of "sacrifices" as he seeks to transform an economy upended by US tariffs.

OTTAWA--Canadian Finance Minister François-Philippe Champagne says the government's budget plan, to be released Tuesday, represents a shift the country must take to secure growth in a global economy rocked by President Trump's trade policy.

Prime Minister Mark Carney said one of the budget plan’s targets is to double the level of exports to non-U.S. markets within a decade.

Federal debt charges are expected to grow over the next five years, growing from $53.4 billion in 2024-2025 to $76.1 billion by 2030. The federal debt, minus financial and non-financial assets, is projected to hit $1.347 trillion in 2025-2026 and grow to $1.591 trillion by the end of the decade.

More than 75% of the actions this year are to respond to significant global economic shifts. It includes a total of $60 billion in savings and revenues over five years, and makes generational investments in housing,

Canada’s economy is on track to show tepid growth in the third quarter, a marked recovery from the prior period though still tentative as the country comes to grips with tariffs and the uncertainty of U.

Few can deny Toronto is an economic force in this country. Canada’s largest city accounted for about 20 per cent of the nation’s gross domestic product in 2021, and Ontario contributes roughly 40 per cent of federal government revenues,

Analysts have raised their Canadian dollar forecasts for the coming year, expecting the currency to benefit from faster growth in the domestic economy and a potential reduction by the Bank of Canada of its bond purchases,

Canada’s share of global trade has declined to roughly 2.5%, approaching levels not seen in decades. This drop reflects broader structural changes in the global ... Read more This article appeared first on Mastermind Quotes.