What has Carney’s government actually accomplished thus far?
Amidst a federal election, fighting through a tumultuous political and economic atmosphere, one man propelled himself forward as the shining beacon of hope Canadians so desperately needed. Mark Carney’s landslide win in the March 2025 federal election was unprecedented, to say the least. In the eyes of both liberal and conservative Canadians, Carney’s extensive background in economics compensated for his lack of experience in politics, and he represented the change that everyone hoped to see after ten years of Trudeau’s Liberal government. However, eight months into his mandate, the question remains: what has he actually delivered? Here is a breakdown of all his campaign promises, his progress on achieving these goals, and where Carney’s Liberal government continues to fall short.
Trade, Tariffs, and our Neighbours to the South
A significant portion of Carney’s campaign focused on addressing tariffs and threats to free trade imposed by US President Donald Trump. Since September 1, 2025, the federal government has removed the 25 percent tariffs on goods imported into Canada from the United States. This includes removing tariffs on $14.2 billion worth of goods that had been in place since March 13, 2025, and tariffs on $30 billion in goods that had been in place since March 4, 2025. Although significant progress has been made, Canada’s tariffs on steel, aluminum, and automobiles remain in place.
Aside from international threats, trade barriers between provinces have hindered much of the nation’s potential GDP growth. According to the CBC, “some economists have said removing them [internal trade barriers] could boost Canada’s economy by $200 billion annually.” To address this concern, Carney passed Bill C-5 in June of this year. This bill tabled legislation to eliminate all federal barriers to interprovincial trade and labour mobility and to remove all federal exceptions under the Canadian Free Trade Agreement. Since Canada Day 2025, all interprovincial trade barriers at the federal level have been eliminated, and provinces have begun discussions on removing barriers at the provincial level.
Cost of Living and Housing Crises’
Of the many economic concerns troubling Canadians, the rising cost of living and the housing crisis were the most decisive for voters and remain central concerns today. Addressing this dilemma, Carney’s government proposed Bill C-4: Making Life More Affordable for Canadians Act. The bill aims to reduce the lowest federal income tax rate from 15 percent to 14 percent and implements a temporary GST rebate for first-time homebuyers on properties under $1 million. However, this bill is still waiting for further parliamentary action before it can receive Royal Assent to become law.
On the topic of housing, Carney was extremely ambitious during his campaign, inciting the slogan “Build, baby, build,” vowing to double home-building rates, bolstering Canadian lumber and technology sectors, and supplying 500 000 new homes a year. In September, he launched Build Canada Homes, a new federal agency that will build affordable housing at scale. The agency received $13 billion in initial funding and expects to provide tangible results within the next five years.
Budget
While many of the Prime Minister’s key campaign promises have been achieved or are currently works in progress, he has still faced significant backlash for the ‘underwhelming’ 2025 budget. The budget projects a deficit of about $78 billion for the current fiscal year, adding a significant amount to the country’s cumulative debt. This will ultimately lead to higher interest rates, curbing the progress made to bring down the cost of living. Critics argue that the budget will lead to higher taxes on farmers, food, and home building due to the industrial carbon tax. Moreover, the budget proposes cutting nearly 40 000 public service jobs through attrition and early retirement in an effort to ‘streamline’ services. However, experts warn that this elimination of services could lead to longer wait times for government benefits and decreased efficiency in already overburdened systems.
Eight months into Mark Carney’s tenure, it is clear that the optimism that swept him into office now competes with the realities of governing. While his economic expertise has guided some promising early progress, the controversies surrounding the newly announced budget leave voters wary about the changes to come. Whether Carney can transform initial hope into lasting impact is a question that has yet to be answered with conviction.