Prime Minister Carney speaks to reporters in Rome
Prime Minister Mark Carney speaks to reporters in Rome after attending Pope Leo's inaugural mass.
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EU leaders concerned Trump will offer ‘too much in exchange for very little' in meeting with Putin
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Toronto Sun
2 hours ago
- Toronto Sun
LILLEY: Five moves Carney could make to unleash Canada's economy
The threat from Trump is about more than tariffs, that's why Canada needs to move quickly to boost our own economy Get the latest from Brian Lilley straight to your inbox Prime Minister Mark Carney delivers opening remarks ahead of the Metis Major Projects Summit at the Royal Canadian Geographical Society in Ottawa, on Thursday, Aug. 7, 2025. THE CANADIAN PRESS/Spencer Colby Canada has immense potential that we haven't been realizing over the past decade. Mark Carney's new government has promised to make changes, but is going slower than what we need. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account If we aren't getting a deal with Donald Trump to lift tariffs any time soon, and it appears we're not, then we need to boost our economic growth elsewhere to compensate. Here are five key suggestions, with concrete examples of things we could be doing to truly unleash Canada's economy. Truly develop our resources Canada has an unrivalled abundance of energy, minerals, forests, and farmland. But thanks to endless delays, activist interference, and political cowardice, more than $670 billion in resource projects have been cancelled or stalled since 2015. That's a big number and may seem distant to most, but what it means is cancelled projects, delayed projects, and lost jobs and opportunity. The prime minister has promised to support projects of national importance, perhaps including pipelines, but 108 days after his election, almost four months later, we don't have a sense of what those projects are. To get them moving, Carney needs to announce a list of project he will support soon in order to attract investors and get started. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Enbridge and TC Energy have already announced that the bulk of their investment for the next budgetary year is going stateside due to regulatory uncertainty in Canada. We need to fix that fast. Get moving on infrastructure We've been talking about northern ports like the Grays Bay Road and Port project or the road to Ontario's Ring of Fire for years. These projects can't move ahead without the infrastructure to support them, but too often it has been federal red tape or a lack of interest stopping them. In passing Bill C-5, the Carney Liberals made it easier for some projects to move ahead, but like with resource development, things are moving too slow. Trump is moving at lightening speed to unleash the American economy, we need to catch up in order to compete. This advertisement has not loaded yet, but your article continues below. Read More Going back to at least the days of Sir Wilfrid Laurier, Canada's industrial policy has included being competitive with the Americans through lower corporate taxes. As Trump alters the American taxation landscape, we need to keep up, we need to eliminate some taxes, we need to be smarter about how we tax so that we encourage investment and growth. To accomplish this, the Carney government could implement these two simple measures: — Eliminate sector-specific taxes such as the 1.5% surtax on banks and life insurance companies, this discourages their investment in Canada. This advertisement has not loaded yet, but your article continues below. — Eliminate the capital gains tax for any individual or company that reinvests their profits in Canada. 'This will cause a boom in Canadian investment,' said Conservative Leader Pierre Poilievre in proposing the elimination of capital gains when funds are reinvested. 'We need to reward investment by letting people who sell one asset and reinvest the money in Canada to do so without capital gains tax.' Take control of government spending The Carney government is in a difficult spot. Spending under the Trudeau government was rising at a rate far above inflation and population growth. The size of the federal bureaucracy grew by 43% under the Trudeau government and no one believes their services are 43% better. Polling shows that most Canadians support cutting the budget and the size of the bureaucracy, so Carney has some leeway with the public which is good. This advertisement has not loaded yet, but your article continues below. Still, he's made many campaign promises and defence spending promises since. We need spending under control so that we can spend less on things like servicing the debt and more on the programs and ideas Canada needs to get the economy moving. Establish real Indigenous partnerships Despite some loud voices, most Indigenous Canadians want to build this country as well, but they also want a stake in our bright future. Move towards real reconciliation with equity ownership in projects that go through or touch on Indigenous lands, don't fight them, make them partners. Imagine how quickly things would move if that were the case. Bottom line We know what needs to be done in this country to unleash our economy, the question is do we still have the courage to do it? This advertisement has not loaded yet, but your article continues below. After a decade of the Trudeau government trying to suffocate Canada's main industries, many people, including those in government, may be cautious, a little gun shy, and that could include Carney. He shouldn't be — if Carney wants to be bold, he will have the backing of Canadians including Poilievre, who was essentially telling Carney to steal his ideas last week. As I've been saying since Trump's inauguration, his plan is about more than tariffs, it's about changing how the global economy works. To respond to that, we need to change how we operate in Canada and that will take bold ideas. Let's stop talking about being bold and do it. blilley@ Editorial Cartoons Crime Sunshine Girls Relationships Toronto Blue Jays
CBC
2 hours ago
- CBC
No new evacuation alerts, orders, but bigger fines issued for violating fire ban
'We will find you and we will fine you,' said Newfoundland and Labrador Premier John Hogan in an update on Wednesday morning when it comes to breaking the fire ban. He said more air equipment is on the way to help fight fires and that he spoke with Prime Minister Mark Carney about the situation. The CBC's Zach Goudie has the latest.
