Key Takeaways
- Prime Minister Mark Carney argues that contemporary anxieties—affordability, immigration, and AI—are fueling a divisive “politics of grievance” worldwide.
- He calls for the creation of new institutions and the reimagining of existing ones to address challenges that outdated tools cannot solve.
- Carney emphasizes that Canada does not have all the answers but is pursuing pragmatic steps: diversifying trade, launching the Build Canada Homes agency, adopting an inclusive energy approach, and establishing a sovereign wealth fund for nation‑building projects.
- He urges progressive leaders to respond to destructive politics with bold, constructive action rather than timid imitation or nostalgia for a past order.
- The remarks were delivered at the 2026 Global Progress Action Summit in Toronto, a gathering of progressive politicians, thinkers, and former leaders organized by Canada 2020 and the Center for American Progress Action Fund.
Prime Minister Mark Carney’s Closing Address
Prime Minister Mark Carney delivered the closing remarks at the 2026 Global Progress Action Summit held in Toronto on Saturday, May 9, 2026. His speech aimed to diagnose the sources of contemporary public unease and to propose a forward‑looking agenda for Canada and its allies. Carney framed his address as a response to the widespread feeling that citizens and governments have lost control over pressing issues such as housing affordability, immigration flows, and the rapid advance of artificial intelligence.
Diagnosing the “Politics of Grievance”
Carney identified a growing “politics of grievance” that has taken root in many democracies, driven by the sense that ordinary people cannot influence outcomes that directly affect their daily lives. He argued that this sentiment is not isolated to any single country but is a trans‑national phenomenon that fuels polarization and undermines trust in democratic institutions. By naming the problem, Carney sought to set the stage for constructive solutions rather than merely critiquing the status quo.
The Role of Outdated Tools in an Age of Anxiety
Drawing on the insight of Canadian philosopher Marshall McLuhan, Carney asserted that today’s “age of anxiety” stems from attempting to meet modern challenges with “yesterday’s tools.” He suggested that existing policy frameworks, regulatory structures, and international agreements were designed for a different economic and technological era and therefore prove inadequate when confronting issues like AI‑driven labor disruption or climate‑related migration pressures.
Reimagining Institutions as an Antidote
To counter the inadequacy of legacy systems, Carney urged Canada to build new institutions and to reimagine old ones. He stressed that innovation in governance is not optional but essential for restoring public confidence and delivering tangible results. This call for institutional renewal echoed themes he had previously raised at the World Economic Forum in Davos, where he warned that the traditional rules‑based international order is no longer fit for purpose.
Building New Coalitions Among Middle‑Powers
Carney highlighted the importance of middle‑power countries forming fresh coalitions to address global challenges that unilateral action cannot resolve. He noted that traditional alliances, while still valuable, must be supplemented by flexible partnerships that can adapt to shifting geopolitical realities. Such coalitions, he argued, would allow Canada to amplify its influence and pursue solutions that reflect shared interests rather than rigid bloc politics.
Canada’s Pragmatic Trade Strategy
In response to rising protectionism, particularly U.S. tariffs, Carney pointed out that his government has actively pursued trade agreements with European partners and other regions. By diversifying Canada’s export markets, the administration aims to reduce vulnerability to any single trade shock and to create new opportunities for Canadian businesses and workers. This approach reflects a broader strategy of economic resilience through openness and engagement.
Addressing Housing Supply with Build Canada Homes
Carney highlighted the creation of the Build Canada Homes agency, a federal initiative tasked with constructing thousands of homes on publicly owned land. The agency is intended to accelerate housing supply, improve affordability, and demonstrate how targeted public investment can meet pressing social needs. He presented this as a concrete example of the government’s willingness to take decisive action in the face of a chronic housing shortage.
An Inclusive Energy Transition
Acknowledging the complexity of energy policy, Carney said Canada’s approach includes a willingness to use all available energy sources, “including some gas,” while simultaneously investing in cleaner, more affordable alternatives. He framed this pragmatic stance as necessary to ensure energy security and affordability during the transition to a low‑carbon future, rather than adhering to an ideological purity that could jeopardize short‑term stability.
Launching a Sovereign Wealth Fund for Nation‑Building
The prime minister also highlighted the Liberal government’s newly announced sovereign wealth fund, designed to finance long‑term nation‑building projects while giving ordinary Canadians who invest a share of the profits. Carney positioned the fund as a mechanism to align national savings with productive domestic investment, thereby fostering economic growth and providing citizens with a tangible stake in the country’s future prosperity.
Embracing Risk and Bold Action
Carney concluded his speech with a call to embrace risk, quoting his own belief that “in a crisis, fortune favors the bold.” He warned against timid imitations of those who seek to deconstruct rather than build, arguing that progressives must counter destructive politics with proactive, constructive initiatives. For Carney, the path forward lies not in pining for a bygone order but in creating the next generation of institutions and policies that reflect contemporary realities.
Contrast with Politics of Destruction
He observed that the current moment has been seized by politicians who prioritize dismantling existing structures over building new ones. In response, Carney urged progressive leaders to answer this challenge not with nostalgia or hesitation but with positive action—building the policies, programs, and institutions that will shape the coming decades. This stance underscores his conviction that effective governance requires both vision and the willingness to implement bold, sometimes uncomfortable, reforms.
Context of the Global Progress Action Summit
The Global Progress Action Summit, which hosted a private appearance by former U.S. President Barack Obama on the preceding Friday, convenes progressive leaders, policymakers, and thinkers from across North America and Europe. Organized by the Canadian think‑tank Canada 2020 and the U.S.–based Center for American Progress Action Fund, the summit serves as a platform for exchanging ideas on how to revitalize progressive governance in an era of rapid technological change, economic uncertainty, and shifting social norms.
Publication Details
The report summarizing Carney’s remarks was first published by The Canadian Press on May 9, 2026, authored by journalist Kathryn Mannie. The piece captures the essence of the prime minister’s address and situates it within the broader narrative of the summit’s objectives and participants.
End of summary.