Tourism minister backs Ontario Place plan, saying Therme went through ‘proper checks’

OTTAWA — Prime Minister Mark Carney announced the creation of a sovereign wealth fund one day ahead of his government’s spring fiscal update, with an initial endowment of $25 billion. “We’re proud to announce a new pillar of our plan, the Canada Strong Fund — Canada’s first national sovereign wealth fund,” said Carney, during a press conference in Ottawa on Monday. “This will be a Government of Canada fund, but more importantly, it will be a people’s fund,” he added. “It will be your fund.” Carney did not provide details on how he plans to initially finance the fund which is...