Mark Carney, a Liberal Party leadership candidate, outlines a plan to tighten federal spending and redirect funds towards capital investments in infrastructure and other areas to stimulate economic growth. He aims to balance the operating budget within three years and cut taxes for the middle class.
Mark Carney , candidate for the leadership of the Liberal Party of Canada , speaks during a news conference in Vancouver on Feb. 13.Former central banker Mark Carney says he would tighten the reins on federal spending to free up more dollars to boost economic growth if he becomes Liberal leader and prime minister on March 9.
“That means reining in government spending so that Canada can invest more as a country,” Mr. Carney said, noting this strategy is needed at a time when the country faces potentially hefty U.S. tariffs of 25 per cent. The overall business investment in Canada has fallen from 14 per cent of GDP in 2014 to 11 per cent in 2024, which he said undermines long-term economic growth and workers wages.
He also promised to turn Canada in a clean energy superpower through investments in nuclear power, hydro, wind, hydrogen, battery storage and carbon capture.
CANADA ECONOMY POLITICS MARK CARNEY FEDERAL SPENDING INVESTMENT
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Live Music Faces 'Worrisome Trend' as Budget-Conscious Fans Spend Less, Drink LessThe Canadian Live Music Association released a report highlighting both the industry's $10.92 billion GDP contribution in 2023 and the challenges faced due to shifting consumer habits. Fans are becoming more selective about concerts, spending less due to rising ticket prices, drinking less at venues, and purchasing tickets last-minute, making planning difficult for artists and venues.
Read more »
Carney Ditches Consumer Carbon Tax, Embraces Border Adjustment for Climate PlanMark Carney, a leading contender for the Liberal leadership, proposes a new climate plan that replaces the existing consumer carbon tax with financial incentives for green purchases and a carbon border-adjustment mechanism to counter competition from countries with lax environmental standards. Carney argues that the current carbon pricing regime is too divisive and that his plan will garner broader support. Conservative Leader Pierre Poilievre criticizes Carney's proposal as a 'tax trick' and warns of potential negative impacts on Canadian businesses.
Read more »
Battiste Drops Out of Liberal Leadership Race, Endorses CarneyNova Scotia Liberal MP Jaime Battiste withdraws from the Liberal leadership race and throws his support behind former central banker Mark Carney. Battiste, the only Indigenous candidate, cited advancing reconciliation, environmental protection, and affordability as his key priorities and believes Carney's leadership best aligns with these goals. The race now features five candidates, with Carney leading in polls and Baylis launching his campaign with a 'prosperity agenda'. Gould proposes tax relief and corporate tax hikes to address the cost of living.
Read more »
Carney Gains Cabinet Support in Tight Liberal Leadership RaceFormer central banker Mark Carney has received endorsements from several Liberal cabinet ministers, including Environment Minister Steven Guilbeault, as the party's leadership race intensifies.\Carney, a proponent of carbon pricing, has expressed openness to alternative strategies for reducing emissions, while Guilbeault, a staunch defender of the current carbon tax, remains committed to climate action.
Read more »
Liberal Leaders Weigh In On Carney's Candidacy, While Party Tweaks Funding RulesMark Carney has garnered support from several prominent Liberal cabinet ministers, including Patty Hajdu, Gary Anandasangaree, and Sean Fraser, who praised his economic expertise and character. Environment Minister Steven Guilbeault also endorsed Carney, highlighting their shared history on climate change initiatives and emphasizing Carney's potential to articulate a concrete plan for carbon pricing. While Carney hasn't explicitly stated his stance on consumer carbon pricing, he has hinted at a policy shift, suggesting a more effective alternative if it's abandoned. Meanwhile, the Liberal Party has adjusted its funding rules for leadership candidates, allowing sworn affidavits to be submitted in lieu of bank deposits.
Read more »
Mark Carney Gains Support From More Liberal Cabinet MinistersLiberal leadership candidate Mark Carney has received endorsements from four more current and former cabinet ministers, including Patty Hajdu, Gary Anandasangaree, Sean Fraser, and Steven Guilbeault. Guilbeault highlighted Carney's expertise on climate change and green energy, while also discussing Carney's stance on carbon pricing.
Read more »