Prime Minister Mark Carney gave a sneak preview of what to expect in the budget on November 4th in a speech to a group of university students last night.

Despite extra spending, he plans to balance the budget in three years. He noted that there are many areas where spending can be reduced. He mentioned Canada Post losing $10-million a day, and that action is being taken in that regard.

“The fact is that federal spending has been growing over the course of the last decade by more than seven per cent year-over-year. We’ve been spending faster than our economy was growing so we have to change that and our government is changing that,” said the PM.

Carney plans on reducing our trade reliance on the United States, something which he has been advocating for since the election.

He also mentioned the benefit of being able to provide clean electricity, but did not correlate that with the MOU.