Home Business & Economy Trade Diversification Carney’s cabinet plans for national economic strength

Carney’s cabinet plans for national economic strength

Planning meeting last week in Toronto | Energy sector in Newfoundland on Monday | Caucus retreat in Edmonton upcoming

mark carney, Toronto
Prime Minister Mark Carney announced support for sectors that are impacted by US tariffs, on Sept 5, 2025 in Mississauga, Ontario. [livestream]
CANADIAN NATIONAL NEWS & ANALYSIS

Sunday September 7, 2025 | TORONTO, ON [Reporting from VICTORIA, BC]

by Mary P Brooke | Island Social Trends


A federal caucus fall Cabinet Planning Forum wrapped up in Toronto on September 5, attended for a few days by Liberal cabinet ministers and secretaries of state. They focused on key missions and priorities for the next six months, as stated by the prime minister’s office in a news release September 5.

This comes ahead of tomorrow’s visit by Prime Minister Mark Carney’s visit to Newfoundland to meet with the Premier of Newfoundland and Labrador as well as regional energy leaders, and then a Liberal federal government caucus meeting for three days in Edmonton this week.

Carney describes this time for the economy as a “critical moment — as the U.S. fundamentally transforms its trade relationships – displacing workers, disrupting industries, and causing massive uncertainty”.

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Prime Minister Mark Carney on September 3, 2025 at a media availability in Toronto. [livestream]

Building a strong economy:

“Canada’s new government is focused on what we can control: building a stronger economy, one that strengthens our collaboration with reliable trading partners and allies around the world and is more resilient to global shocks. That is how the government can bring down costs and create greater certainty, security, and prosperity for Canadians,” said Carney in the news release.

At the Forum, the Ministry heard insights and perspectives on Canada’s economic and security opportunities from both Canadian and international experts.

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Fall economic priorities:

The Forum focused on the government’s fall economic priorities, including fast-tracking nation-building infrastructure projects through the new Major Projects Office, getting the government back in the business of building affordable homes by launching Build Canada Homes, launching Canada’s Defence Industrial Strategy, and ensuring that workers and businesses in sectors most impacted by U.S. tariffs have the resources they need to retool and diversify their markets.

The Forum also advanced the beginnings of Canada’s preparations for the CUSMA review process. The CUSMA agreement with the United States and Mexico comes up for review in 2026.

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Affordability issues and budget:

The concerns of affordability for everyday Canadians seem to have slipped off the rails since the election as Carney and his senior ministers have focussed on dealing with the United States administration and — in parallel — working on trade diversification including attempting to open up trans-Atlantic trade with more locations in Europe.

Canada has been without a federal budget since spring 2024. Ahead of the 2025 Budget which expected to be announced in the House of Commons this fall, Carney’s office says “the Ministry focused on ways to grow the economy sustainably and make life more affordable”.

At the Cabinet Planning Forum, the prime minister and his senior ministry discussed the need to make substantial investments in priorities such as nation-building infrastructure, defence, and housing to catalyze private investment ” while advancing efforts to modernize government so it operates more efficiently and delivers better results for Canadians”.

Canadians may not be ready to hear that austerity and ‘deep investment’ in major economic projects could also mean restrictions or cutbacks on social programs that millions of people rely on in challenging economic times.

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