Prime Minister Mark Carney has reshaped Canada’s economic leadership, unveiling a cabinet that blends experienced Liberals with business-savvy newcomers to drive growth and productivity. Key economic portfolios were filled with trusted allies expected to execute Carney’s ambitious agenda to transform the Canadian economy swiftly.
François-Philippe Champagne retains the critical Finance Minister role, while Dominic LeBlanc now handles Canada-U.S. trade—signaling continuity in key files amid global uncertainty. Mélanie Joly has been appointed Minister of Industry, a move watched closely by Bay Street, given her limited business background but rising political profile.
Business leaders, previously disillusioned under the former government, are cautiously optimistic. Many see Carney’s cabinet as a turning point, noting the Prime Minister’s deep economic expertise and urgency to act. “It’s a sprint, not a marathon,” said Frank McKenna, former New Brunswick premier, echoing Carney’s message to ministers.
Tim Hodgson’s appointment as Energy and Natural Resources Minister was especially welcomed by the private sector. A seasoned investment banker and energy board veteran, Hodgson’s elevation is viewed as a nod to both industry expertise and Western Canada’s priorities.
The Canadian Chamber of Commerce and executives across industries praised Carney’s approach, highlighting stronger communication and renewed attention to the business community. “I’ve had more engagement in 100 days than in 10 years,” said Goldy Hyder of the Business Council of Canada.
Still, expectations are high. Business leaders are reserving final judgment until the upcoming federal budget, looking for clear steps toward fiscal discipline and economic revival. With Carney at the helm and a cabinet aligned behind him, the government is poised to make bold economic moves—if it can deliver quickly.
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