The $C56bn plan focused on investing in a resource economy falls short of changing Canadians’ day-to-day lives
Canada’s prime minister Mark Carney likes to say that when he was young, “we used to build big things in this country, and we used to build them quickly.”
That idea – of sprawling projects that transform nations, has influenced both his narrative as an economist-turned politician and his government’s multibillion dollar investment spree. “It’s time to get back at it, and get on with it,” he said in September.
On Thursday, Carney touted a slate of new “nation-building” projects, totalling more than $C56bn in new investment, that his government will help fast-track in order “to boost Canada’s competitiveness”. But those plans, which include mines and natural gas export, heavily favour investment in a resource-based economy that falls short on projects that experts say could change the day-to-day lives of Canadians – and reimagine the country’s future.
Carney told reporters the projects are “transformational” and will help the country realize “full potential as an energy superpower” while also finding new markets outside the United States.
