US EditionCarney Liberals launching new skilled training strategy, deficit projected at $65.3B
Ottawa says the plan will recruit and train up to 100,000 skilled trades workers and includes wage subsidies and apprenticeship grants.
- On Tuesday, Finance Minister Francois-Philippe Champagne tabled the spring economic update, reporting a $66.9 billion deficit for 2025–26, down from the $78.3 billion forecast in the 2025 budget.
- To address persistent labour shortages, the government allocated $6 billion over five years for the 'Team Canada Strong' program, targeting 80,000–100,000 skilled-trades worker recruitment by 2030–31.
- Prime Minister Mark Carney unveiled plans Monday for Canada's first sovereign wealth fund, capitalized at $25 billion to support nation-building projects and allow Canadians to share in financial returns.
- The government committed $54.5 billion in new spending since the 2025 budget while maintaining fiscal anchors, projecting the deficit will decline to $53.2 billion by 2030–31 without achieving immediate balance.
- Canadian Federation of Independent Business president Dan Kelly expressed concern the update's focus on major corporations represents a 'top-down approach,' while economist Randall Bartlett warned global uncertainty threatens future growth.
40 Articles
40 Articles
GOLDSTEIN: Mark Carney and the magical, mystery decreasing deficit
Given that those who forget the past are condemned to repeat it, the fact that Finance Minister Francois-Philippe Champagne reported a drop in last year’s projected deficit from $78.3 billion to $66.9 billion — a decrease of $11.4 billion — in Tuesday’s spring economic statement should surprise no one.
Canada launches $6B plan to boost skilled trades and tackle youth unemployment - NOW Toronto
What to know The federal government is proposing a $6-billion investment over five years to train and hire up to 100,000 trade workers, as demand is expected to exceed 1.4 million workers by 2033. A $2-billion recruitment push will fund paid entry-level trade experiences for youth and offer $10,000 wage subsidies to employers hiring apprentices. New supports aim to boost apprenticeship completion rates, including $400 weekly payments during tra…
The unemployment rate among young Canadians is close to historic heights and the Carney government wants it to change. Liberals are proposing to invest $6 billion to hire and train 100,000 new trades workers by 2031.
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