Carney to Unveil Debt-Fueled Budget to Revamp Canada’s Economy

Mark Carney was elected prime minister with a mandate to transform Canada’s economy. Now he needs to assure markets about the price tag.

President Donald Trump’s policies have upended decades of assumptions about Canada’s relationship with its No. 1 trading partner. With US tariffs still hammering growth, the Carney government’s first budget will focus on the wrenching structural change needed to strengthen the domestic economy and non-US exports.

The former central banker, who won Canada’s top political office in March, has pledged to reduce dependency on the US by boosting military spending, speeding up infrastructure projects, increasing ...