“In order for the numbers to be better, you have to be on top of them, and we are on top of them,” Carney said.\u00a0<\/p>\n
The recent spike in the price of oil, due to the war between Iran and the United States and Israel, has boosted revenues in Canada’s oil-producing provinces and in turn boosted how much revenue the federal government has collected.\u00a0 <\/p>\n
This time will be different, Carney says<\/p>\n
Carney said the Canada Strong Fund will be managed by an arm’s-length independent Crown corporation that will report to Parliament, and his government will spend the next few months consulting on “specific aspects of the fund.”<\/p>\n
Describing the fund as “essentially a national savings and investment account,” Carney said the fund is being designed to “grow wealth for future generations.”<\/p>\n
“This will be a Government of Canada fund, but more importantly, this will be a people\u2019s\u00a0fund. It will be your fund,” Carney said. <\/p>\n
In order to allow people to contribute to the fund, the federal government will launch a “retail investment product” like a mutual fund or pension scheme where Canadians can buy into the fund and earn a dividend. <\/p>\n
“This will give Canadians a direct stake in our nation\u2019s long-term prosperity and help build long-term national wealth,” the government said in a statement. <\/p>\n
WATCH | Canada Strong Fund will ‘give all Canadians a direct stake’ in nation-building projects, Carney says:![\"\"](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/04\/1777307832_144_default.jpg\")
<\/p>\n
Canada Strong Fund will ‘give all Canadians a direct stake’ in nation-building projects, Carney says<\/p>\n
Prime Minister Mark Carney announced on Monday the Canada Strong Fund, the country’s first national sovereign wealth fund, with an initial federal government investment of $25 billion over three years. Carney said the fund is ‘designed to grow wealth for future generations of Canadians.’<\/p>\n
Carney also said that like the Canadian Pacific Railway, the major projects his government is trying to get built will mostly be constructed by private companies. <\/p>\n
Just like in the 1870s, Carney said “the federal government will support these projects through loans,\u00a0 grants and other incentives.”<\/p>\n
Carney evoked the spirit of major infrastructure projects that defined Canada’s history, but said the proposed plans would be different from things like the Canadian Pacific Railway, which was built by displacing Indigenous peoples from their land, where workers laboured under “appalling conditions” and the only people who benefitted from the projects where the companies that built them.\u00a0<\/p>\n
Carney said Indigenous peoples will be full partners in the projects through equity stakes; that the projects being financed will be built by Canadians in “high-paying union jobs”; and because the government is investing in the fund, all Canadians, whether they invest directly or indirectly as taxpayers, will benefit. <\/p>\n
Projects of national interest<\/p>\n
Bill C-5, Carney’s legislation to speed up approvals for major infrastructure projects identified as being “nation-building,” passed through Parliament last June.<\/p>\n
The second half of the bill, the Building Canada Act, enables the federal cabinet to pick projects, approve them upfront and override federal laws, environmental reviews and the permitting process.<\/p>\n
The legislation speeds approval times from five years to two by introducing a “one project, one review” approach instead of having federal and provincial approval processes happen sequentially.<\/p>\n
The Major Projects Office (MPO), which Carney created last August, is the central place to make pitches, deliver complaints or express concerns about major projects.<\/p>\n
When he announced the MPO, Carney said it would “help structure and co-ordinate financing from the private sector, provincial and territorial partners” and the federal government to ensure taxpayers get value for money.\u00a0<\/p>\n
Carney said the projects being financed through the fund will not be limited to ones of national interest, which have to meet certain benchmarks to get that classification.<\/p>\n
“It wouldn’t be restricted to that, in my judgement. We’ll consult on the specifics of that, so it’s a broader range than would be just specifically C-5,” he said on Monday.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Prime Minister Mark Carney has announced his plan to create Canada’s first sovereign wealth fund. The “Canada Strong…\n","protected":false},"author":2,"featured_media":632236,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48],"class_list":["post-632235","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/632235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=632235"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/632235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/632236"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=632235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=632235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=632235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}