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Carney’s First Budget Signals a Generational Reset for Canada’s Finances

Prime Minister Mark Carney jokes with Minister of Finance and National Revenue Francois-Philippe Champagne as they greet families before participating in an announcement at a community centre in Ottawa, on Friday, Oct. 10, 2025. Prime Minister Mark Carney’s inaugural budget is being framed as a turning point in Canada’s fiscal direction, marking a sharp departure from the spending patterns of recent years . Presented alongside Finance Minister François-Philippe Champagne, the budget is not just a financial document but a statement of intent: to reshape the country’s economic priorities in the face of global uncertainty and domestic pressures. At the heart of the plan is a shift away from expansive spending toward what Carney has described as “tough choices” and “sacrifices.” The government has emphasized that Canada must “spend less to invest more” , signaling a reallocation of resources rather than an outright expansion of the deficit. This approach reflects Carney’s long-standing...
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Ignace Chosen as Site for Canada's Underground Nuclear Waste Repository


A region in northern Ontario has been selected as the site for Canada's underground nuclear waste repository. The Nuclear Waste Management Organization (NWMO) announced that the Township of Ignace and the Wabigoon Lake Ojibway Nation have agreed to host the $26-billion project.

The decision comes after a 14-year site selection process that began in 2010 with 22 potential locations. The site selection was narrowed down to two finalists in Ontario: Ignace and South Bruce. The NWMO ultimately chose Ignace after both the municipality and the nearby First Nation expressed their willingness to move forward.

The deep geological repository will be located about 650 to 800 meters underground, encased in solid rock with engineered barriers to ensure the safe storage of nuclear waste for thousands of years. The project is expected to take approximately 20 years to complete, including regulatory approvals and construction.

Federal Energy and Natural Resources Minister Jonathan Wilkinson expressed his gratitude to the communities involved in the selection process and emphasized the importance of the project for Canada's climate change goals.

The NWMO will now begin the regulatory approval process, which is estimated to take about 10 years, followed by another 10 years of construction. The used fuel is expected to be loaded into the repository over a period of 50 to 60 years.




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