Mark Carney launches Canada's first sovereign wealth fund, the Canada Strong Fund

Prime Minister Mark Carney announced Canada's first national sovereign wealth fund, the Canada Strong Fund, at the Canada Science and Technology Museum in Ottawa. The fund, with an initial endowment of CA$25 billion (€15.6 billion), will be managed by an independent Crown corporation and focus on domestic infrastructure investments in mining, ports, and technology. It is open to public and private stakeholders, including individual Canadians. Carney framed the fund as a generational project akin to the Canada-Pacific Railway, responding to economic threats from the US. Critics, including Conservative Party leader, have dismissed it as a "Liberal slush fund." The fund draws on models like the Canada Pension Plan and Ontario Teachers' Pension Fund. Canada's national debt stands at about CA$80 billion.