Is Mark Carney the new Jean Chrétien? Last Wednesday, Carney used the “a word” — austerity — to describe the future of Canada’s finances in the era of Trump’s tariffs. Carney had already ordered a 15 per cent cut to Ottawa’s operational spending in July, implying a downsizing of the civil service and possibly program cuts. Then on Friday, he paused Canada’s costly EV mandate while creating a $5 billion “strategic response fund” to help Canadian businesses find new markets.