The federal government is spending $8.7 billion along with the provincial government on key Ontario industries as pressure from the trade war with the U.S. builds, Prime Minister Mark Carney and Ontario Premier Doug Ford announced on Wednesday.
The “new action plan” includes $1 billion spent to develop capacity in the Ring of Fire, a mineral-rich region in northern Ontario known for critical mineral development, as well as $5 billion on steel mills to ensure that steel workers can keep their jobs, Carney said, adding that it will protect 100,000 jobs in the sector.
Ottawa will also spend $2.5 billion on the auto sector’s assembly line plants in Ontario, Carney said, with the aim of safeguarding 120,000 jobs, he added.
More to come.
Later in the day, Carney will depart for Turkey.
The announcement comes as workers at an Ontario-based steel manufacturing plant are facing imminent layoffs.
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Stelco announced last month that pressure from U.S. tariffs forced it to concentrate steel production at its Lake Erie Works plant in Haldimand, and halt production at its plant in Hamilton. Some employees would be offered transfers, but many would be out of work.
A resolution of the standoff between the federal government and Stelco is a “question of days,” Industry Minister Melanie Joly said on Friday.
The federal government believes there have been “multiple breaches of the commitments” that Stelco made under the Investment Canada Act.
Stelco is facing financial penalties and “a potential forced divestiture,” which would force them to sell all their assets in Canada, Joly said.
Finance Minister Francois-Philippe Champagne said on Tuesday that the federal government would release its federal budget on Nov. 5, two days after the U.S. midterm elections.
Champagne announced the date during question period on Tuesday.
The budget will be second as Carney, who changed the schedule for how federal budgets are released by moving them from spring to fall.
Carney’s second budget date comes after the Parliamentary Budget Officer trimmed the 2026 and 2027 outlook for economic growth.
The PBO now projects gross domestic product growth of 0.9 per cent for this year and 1.5 per cent for 2027, down from 1.1 per cent and 1.6 per cent respectively.
–with files from Global’s Sean Previl
There isnt 100k steel jobs now lol like how do you protect jobs that dont exist?
The full extent of Trudeau/Carney incompetence since 2015 is now on full display.
I dont believe what mark carney or doug ford say they both are corrupt
We dont believe anything what mark carney and doug ford say they are both are corrupted
Perhaps Carney should get a trade deal completed instead? Like he promised he would do by July 31, 2025.
Elbows Up is a foolish approach just because some here can’t stand Trump. How good will it feel when you lose your job. Economics must be before feelings and business. Just because you don’t like someone doesn’t mean you can’t do business with them. US is one of the largest markets in the world and right next to Canada.
Pants down, elbozos. King Trump will be nicer if you stop resisting just like he was with Epstein’s products.
Once again Canadian tax payers are on the hook for an issue created by the LPC. Yet their minions continue to swallow their tripe. I guess tax dollar funded media helps.
Lard Ford and Clowney have failed on their mandate to protect jobs in Canada. People want to work, not go on EI.
@Anon 11:46
Ben is obviously used as a metaphor for all those elbozos in Canada that blindly follow and support an obviously disastrous Carney led Liberal government.
@Anon 11:36
Ben is a metaphor for all those elbozos in Canada that blindly follow and support an obviously disastrous Carney led Liberal government.
Ben, so young, so naive. Tell us in ten years or more how it all turned out for you! When you’re looking back at all the promises that we’re kept. Some of us wore rose colored glasses long ago. We weren’t all grumpy, but sometimes what you see happening around you has a way of beating you down. p.s I really hope it turns out well, but my brain tells unfortunately low probability.
Anon aka Ben
No one would bed your wife .
@Roy 1144 AM. The right is so obsessed with Ben! Can’t debate him so attack his wife!
spending more of our unlimited supply of future tax dollars on a select few. Why is he not claiming money from the US for damages from the last illegal tariff? Why is he not in the lineup to get us money due from the current tariff? And why is no country suing Trump for the high cost of fuel because of his actions. – If he is not held accountable, he will never learn.
Carney ran on the platform of ‘I know how to deal with Trump”. Making us pay more is hardly what we had in mind.
@Anonymous 1131 AM. Ok, Ben is to blame for everything! You’ve got a problem.
Ben is the kind of guy that comes home and finds his wife in bed with another man and believes her when she tells him the guys doing a feasibility study on beds.
What happened to the elbows
@Ben Yet again your blind support for Carney shows just how little you understand about the damage Carney is doing to our economy and Canadian companies and workers. The Liberals have made our debt so bad that it takes $57 BILLION just to pay the interest on it this year. That is more than $1 billion EVERY WEEK that we taxpayers have to pay to service the Liberal debt. That means more than a billion dollars lost every week that could be spent helping struggling families. Your blind loyalty is the reason why the Liberals and Carney are destroying Canada and opportunities for our people to succeed. Your blind and stupid loyalty will end up making Canada a third world country.
@Ben 11am. Insufferable Ben, shut up! Leftist libbie! Nobody wants to hear you
Carney as usual will make an announcement then scuttle out of the country before he can be challenged or questioned on it. The guy is a fraud and, just like his buddy Trudeau, a coward when it comes to facing legitimate questions
There is only one true way to support Canadian workers and that is to get a deal done with the USA and open up our biggest trading opportunity that is more than 75% of our trading base.
Carney is leaving the country again. More taxpayers money being spent on trips that actually achieve nothing. Companies going broke and Canadians losing jobs because they cannot sell their products and what is Carney doing throwing money at these companies and workers because he won’t fix the problem of the tariffs and then going traveling again this time to Turkey. Companies and workers don’t want handouts their want to sell their products.
Is that the only answer Carney has is to throw money at these companies and workers because they can’t sell their products. This is happening all because Carney won’t get a deal over the tariffs. Canada cannot afford to support these people and companies for long People need good paying jobs not handouts and companies need to make money selling their products or they will go elsewhere to find business. How many more Canadians have to lose their jobs or companies closing or moving to do business before Carney does something constructive and permanent about these tariffs.
What ever it is you know it will enrich is billionaire CEOs (On temp leave on secondment as PM of Canada) company and his stock options
DERP!
Excellent. We shall not give in to the Trump administration on this trade war. Canada’s future will be determined in Canada by Canadians, not in Washington by Americans.