Canadian Prime Minister Mark Carney recently presented his first budget. It follows nearly a decade of ruinous economic policy under Justin Trudeau, which resulted in Canada suffering by far the worst real GDP per capita change of any country in the G7 from 2015 to 2025 and a collapse in business investment so that in the second quarter of this year, machinery and equipment investment per worker in Canada was less than one-third of what it was in the United States.
Given the failures of the Trudeau decade, Carney signaled ahead of his budget that he was prepared to do some things differently. Unfortunately, not all of his changes were positive.
