Good morning. With election day now in the rear-view mirror, it’s time to start looking a bit deeper into Mark Carney’s economic policy commitments.

As I wrote in an election-day column, the Liberals’ agenda was considerably more expansive and prescriptive on a sector-by-sector basis than the one put forward by Pierre Poilievre’s Conservatives – to the extent that delivering on it could really strain government’s capacity. Today, I take a closer look at the under-the-radar promises. But first:

Auto: Stellantis NV is set to shift some vehicle production and revamp its parts supply lines to avoid paying tariffs in the United States.

Trade: Algoma Steel CEO asks Mark Carney to ‘immediately engage’ with Donald Trump on dropping steel tariffs

Health: A 91-per-cent surge in claims for weight-loss drugs is raising concerns about the sustainability of private medical insurance plans, according to an industry report.

Have you paid more taxes over the past decade? The Globe and Mail set out to assess how much people’s tax burdens have actually changed over the past 10 years.

• Methodology: We worked with Jay Goodis, an accountant and chief executive of Tax Templates, to create profiles of four representative households across the country. They include a high-earning couple in Toronto with sizable capital gains, a middle-income renter couple in Vancouver and a small-business owner in Halifax who is retiring.
• Conclusion: Our analysis finds taxes for the middle class have stayed relatively flat and increased incrementally for higher-income individuals over the last decade. For other groups, such as seniors, taxation has actually decreased.

I’m Adam Radwanski, policy columnist and feature writer for Report on Business.

My current focus is on how to strengthen Canada’s economic sovereignty in the face of U.S. President Donald Trump’s threats. That means I spent a lot of time going over the parties’ full policy platforms, when they finally released them late in the recent election campaign, to try to understand their full range of related plans.

Some of the Liberals’ promises, especially around fast-tracking energy projects, got a lot of attention during the campaign. But many others flew under the radar.

So, now that Carney has won a mandate, here are a few of the more intriguing pledges – key to his industrial-strategy ambitions, but about which not enough is yet known – that I’ll be keeping my eye on:

$25-billion in financing for builders of prefabricated homes. Although presented primarily as a way to address the housing crisis by getting homes built quickly, affordably and sustainably, this is also a whopping industrial play. It could be a boon to Canada‘s embattled forestry sector (because of wooden frames) while giving rise to a wave of off-site construction companies.

But for the promised new Build Canada Homes agency, it won’t just be a matter of getting money out the door. To build the sector nearly from scratch will require quickly coming up with a comprehensive plan, including around supply chains and overcoming regulatory barriers.

$2-billion to boost the domestic automotive industry. Although the Liberals were vague about what exactly this “strategic response fund” will involve, the general understanding within the industry is that it’ll largely go toward getting more Canadian-made components into vehicles assembled here.

That could be a lifeline for parts makers who face potential ruin from Trump’s tariffs. But there will be urgency to pin down details about the mix of capital supports, skills upgrades and other measures, given companies’ tenuous future amid the trade war.

A ‘first and last mile fund’ for critical minerals. The Liberal platform suggests hybrid goals for this new program – both building infrastructure to get more minerals to market and building more on-site processing and refining, rather than just producing raw materials. But it’s TBD how much money will go to those priorities, and in what form – funding, financing, equity or combinations thereof.

Flow-through shares for the tech sector. Among multiple promises to encourage innovation investment is introducing this mechanism, which essentially allows investments by companies that aren’t profitable yet to be passed along to shareholders to claim tax deductions.

Canada has already used this approach to help mining startups. But opening it up to tech companies will come with design challenges, particularly to avoid abuse, since research and development expenses could be trickier to track than mining exploration and development.

A made-in-Canada procurement strategy. This is actually a series of commitments to get the government and Crown corporations to buy Canadian whenever possible, for everything from defence and aerospace equipment, to building materials, to vehicle fleets.

A lack of these policies, with Canada showing greater respect than other countries for anti-protectionist trade laws, has long been a frustration for industry. Trump’s trade wars have created political will for a more aggressive approach, but it will require major cultural change across the public sector.

Funding to attract U.S. researchers. To take competitive advantage of Trump’s defunding of health, science and other research, Carney has promised replacement funding for them here. There could be benefits to the Canadian R&D and commercialization ecosystem.

Exactly how much money is on the table is unclear, but the bigger challenges could be around finding integration opportunities with a Canadian postsecondary education system itself reeling from funding challenges related to foreign-student restrictions.

A new $25-billion export credit facility. Financing for forays by domestic companies into overseas markets, including by de-risking procurement of Canadian-made goods and services by foreign governments, is an obvious goal, given the need for trade diversification. What’s less clear is how this promised program will differ from existing financing supports offered by Export Development Canada, and complement them rather than create confusing overlap.

$5-billion to upgrade trade corridors. This, too, is mostly about enabling diversification from U.S. markets by reducing bottlenecks at ports and infrastructure (such as rail links) that leads to them. A big question is how exactly the government will prioritize which of many potential projects to spend these funds on, since there’s not currently much co-ordination between port authorities and other commercial transportation managers around the country.