Canada

Canada's New 'Sovereign Wealth Fund' Is Actually a Debt-Fueled Spending Scheme

Canadian Prime Minister Mark Carney is marketing his new Canada Strong Fund as a "sovereign wealth fund," but it is one of many ways the government can waste taxpayer money.

Reem Ibrahim | 4.30.2026 4:45 PM

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(Grzegorz Krzyzewski / Fotonews/ZUMAPRESS/Newscom)

Amid the reshaping of the global economic order, thanks in part to President Donald Trump's tariffs and trade policies, Canadian Prime Minister Mark Carney is proposing his own restructuring of Canada's economy.

On Monday, Carney announced the creation of a new "sovereign wealth fund," called the Canada Strong Fund. The fund will begin at 25 billion Canadian dollars (about $18.4 billion) and will be used to finance various infrastructure projects.

"The order which Canada helped build…is crumbling," Carney said on Monday. Canada's "former strengths built on [its] close ties to the United States have become [its] weakness," he added.

To rectify this, Carney's proposed wealth fund would serve as "a national savings and investment account," and be modeled after Norway's $2 trillion investment fund. Except, this is not........

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