Carney WARNS of ‘sacrifices’ for Canadians ahead of new budget

Last night, Prime Minister Mark Carney delivered an address from the University of Ottawa, warning that Canadians should prepare for “sacrifices” as his government readies the upcoming federal budget.

When pressed for details, Carney declined to specify which programs or spending areas might be affected, saying those decisions will be revealed in the budget. He also said Canada’s economic relationship with the United States “will never be the same again,” while emphasizing the need to build new trade partnerships abroad.

Meanwhile, Pierre Poilievre says that Canadians have already made great sacrifices because of all the Liberals’ failed policies – policies they still cling to today.

On today’s episode of Straight Up, Marc Patrone speaks with Dr. Ian Lee, Associate Professor at Carleton University’s Sprott School of Business, about Carney’s message, the challenges of reducing dependence on the U.S. market, and what Canadians might expect from the upcoming budget.

Lee points to mixed signals in the Prime Minister’s remarks — pledging to double resource exports while doubling down on net-zero targets, and declaring an end to the old U.S. relationship while still pursuing a major trade deal in Washington. He says Carney’s pre-budget speech highlights the tension between Canada’s climate ambitions, fiscal discipline, and continued reliance on its largest trading partner.

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