Today, the Prime Minister, Mark Carney, met virtually with provincial and territorial premiers. The Prime Minister updated the premiers on the government’s work to transform the Canadian economy – from one that is reliant on a single trade partner to one that is more resilient to global shocks, built on the solid foundation of strong Canadian industries, and bolstered by diverse international trade partners. He outlined how Budget 2025 will drive this transformation, through its core strategy to enable $1 trillion in total investment into Canada over the next five years. First Ministers reaffirmed their commitment to working together to build a strong economy.
The Prime Minister highlighted the central role of nation-building projects in this mission. He underscored the strong collaboration underway to advance major projects across Canada, including those referred to the Major Projects Office (MPO). First Ministers discussed the recent announcement of a second tranche of projects referred to the MPO – projects that will underpin national strategies, namely: realising Canada’s full potential as an energy superpower; creating new trade and economic corridors to diversify our economy; building our leadership in critical minerals to increase our independence; and establishing our data sovereignty at a scale to serve Canadians safely and securely. Combined with the first tranche announced in September, these projects represent more than $116 billion in investments and tens of thousands of new careers. First Ministers also addressed next steps to streamline major project reviews, with several provinces already advancing draft cooperation agreements.
First Ministers also discussed continued efforts to remove interprovincial trade barriers and facilitate the building of more affordable homes for Canadians – including through standardising building codes.
Prime Minister Carney updated the premiers on recent trade and security talks with international partners, including the United States, emphasising the federal government’s determination to secure the best deal for Canadians. He also outlined progress in strengthening Canada’s global trade relationships – highlighting advancements made during his recent trip to the Indo-Pacific and noting his upcoming travel to the United Arab Emirates and to the G20 Leaders’ Summit to build on this work.
The Prime Minister and the premiers agreed to meet regularly, with the intent to meet in person in the new year.