A version of this op-ed was first published by The Hill Times on October 7, 2026.
By Jen Hassum
Pollsters across the industry report high approval ratings for Prime Minister Mark Carney in his handling of Canada’s economic turbulence. Yet, beneath the surface lies great insecurity as many Canadians believe that both the country’s financial situation and their own will worsen.
Approval is not the same as confidence. When asked if the government’s Major Projects agenda will make their lives better, most Canadians do not believe so. Earlier this spring, research from the Broadbent Institute found that only 24% of Canadians believe that their household will be better off as a result of Carney’s infrastructure investment plan. Most expect no change or are unsure, while 15% believe things will get even worse.
This the Achilles’ heel of Carney’s agenda: short-term approval for action may not survive if policies do not address the crisis of good jobs, rising costs and the growing sense of powerlessness. Times will be tougher as the trade war progresses. The Canadian-American Business Council predicts a loss of 102,000 Canadian jobs in 2027 and explosive inflation directly caused by President Trump’s tariffs. So far, it is ordinary Canadians shouldering the burden of pain from the trade war.
Missing from the Carney government is a clear explanation of how Canadians are going to benefit from the Major Projects agenda. Bill C-39 and the Canada Investment Summit offered no national strategies or even rhetorical explanations. How will this defend jobs? How will quality of life improve? Even the basics remain unclear. Where is this investment going? Who benefits? What exactly is being built?
The biggest headline out of the Summit was not on the government’s prospectus list: the privatization of Canada’s airports. Besides the publicity around an unpopular AI data centre in Saskatchewan during the Summit, Carney’s infrastructure investment announcements were shy on details.
The government’s release boasted of $500 billion in investment and the creation of 4,500 jobs, but offered little clarity. What new infrastructure will move forward, and will the new jobs be stable, unionized jobs? This falls way short of replacing the 102,000 jobs we are on track to lose. There is little confidence in the government’s approach to good jobs when, post-Summit, they legislated roll backs on workers’ rights.
Canadian sovereignty is historically understood as democratic and egalitarian. From before Confederation, Canadian identity was not just based on the cohesion of farflung communities across a massive geography, but also the ideals of shared prosperity and freedom from arbitrary power. Canada’s very first elected government leader, Louis-Hippolyte Lafontaine, stated, “the greatest blessing enjoyed by the inhabitants of America is the social equality which reigns throughout this continent.” Canadian sovereignty means democracy as a collective liberty, free from the coercive aristocratic decisions of a far away empire.
Today, Canada faces a new empire. This time, decisions are not made by far away aristocrats, but behind closed doors by global investors. At the Canada Investment Summit, the degree to which citizens were able to shape the decisions that affect our lives was negligible. Absent from the meeting rooms were civil society, labour unions, and even news organizations. For all the talk about nation-building to defend Canada’s sovereignty against US economic attacks, there were many US investors in attendance.
Carney famously remarked, “if we’re not at the table, we’re on the menu.” But why were working-class Canadians not included in the reservation? How did “elbows up” become an invitation for US-based investors to lay those elbows up on the table to learn what specials are on Canada’s infrastructure menu? What was framed as Canada’s collective resolve now looks like a hood-wink.
Canada faces real economic challenges, a need for investment and an infrastructure gap. However, Canadians do not measure the economy in GDP growth, but in their daily lives: whether they can afford to live, if they feel free, if they feel confidence. This was the great promise of Canada: a nation built on a social contract that guarantees democracy and shared prosperity.
There is no sovereignty without democracy, and there is no nation-building without workers. If Canadians are to feel confident in the Carney agenda, they must see themselves as the citizens it is built for who materially benefit from its investments.
Jen Hassum is the Executive Director of the Broadbent Institute.