Prime Minister Mark Carney said Canadians should be ready for some challenges and sacrifices in a speech outlining some of his government’s priorities for the upcoming federal budget. Carney touted that his government is preparing to build a stronger economy against the backdrop of a more dynamic, a more competitive, a more hostile world.

Prime Minister Mark Carney's speech will come as a new report from Desjardins estimates the federal budget deficit could be the highest in 30 years.