Canadian Premier’s Cabinet Meets for First Time, Focuses on Affordability

2025-05-15 08:36:06

(MENAFN) Canadian Prime Minister Mark Carney's newly appointed Cabinet met for the first time on Wednesday, with affordability topping the agenda.

Parliament doesn’t reconvene until May 26, but key issues like halted electric vehicle (EV) projects, U.S. tariffs, and concerns about potential annexation by the U.S. will need immediate attention.

However, despite the looming tensions with President Donald Trump’s administration, he was not mentioned during the brief remarks following the two-hour Cabinet meeting.

Other pressing matters include growing separatist sentiments in Alberta and Honda's recent decision to pull back on a CAN$15 billion ($10.7 billion) EV plant investment in Canada. The planned $19 billion purchase of 88 F-35 fighter jets from the U.S. also requires reassessment in light of Trump’s tariffs.

After Carney’s pledge: “We are acting on affordability,” Finance Minister Philip Champagne addressed the planned tax cut, despite repeated questions from reporters on other topics. Champagne confirmed that a tax reduction for 22 million Canadians will be implemented on July 1, saving middle-income families $825 annually.

“This is the first order of business for this government,” Champagne stated. “We will be there for them (Canadians).”

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