Prime Minister Carney convenes First Nations leadership and First Ministers for the first time in two decades, launches discussions on a new First Nations Sovereign Wealth Fund

OTTAWA, ON, Oct. 26, 2026 /CNW/ -- Today, Prime Minister Mark Carney convened a meeting between First Nations leadership and First Ministers to advance shared priorities and build a stronger, fairer Canada. This was the first meeting of its kind.

The leaders focused on new opportunities for First Nations to develop, operate, and share in the economic benefits of major infrastructure projects. They agreed to develop new revenue-sharing mechanisms, including the potential creation of a new First Nations Sovereign Wealth Fund. Prime Minister Carney directed the Minister of Finance to work with First Nations leaders to determine how to most effectively establish such a fund, with the clear goal of giving First Nations peoples a direct stake in major projects.

Building on these efforts, the Prime Minister announced that the federal government will amend the First Nations Fiscal Management Act to expand the First Nations Finance Authority's lending authority. This will make it easier for First Nations to secure financing to invest in major projects and share in the returns.

The leaders also discussed bolstering efforts to recruit, train, and hire more First Nations workers to build these infrastructure projects. To that end, the Government of Canada today announced $260 million over four years to establish the new Partnerships for Indigenous Workforce Readiness Fund. This will provide targeted funding to connect Indigenous Peoples with job opportunities created by major projects. The government is also working on an Indigenous-focused stream of the $8 billion Team Canada Strong initiative to connect Indigenous workers with paid, entry-level trades jobs and get them onto job sites faster.

During the meeting, the leaders discussed the possibility of reforming or abolishing the Indian Act as part of a broader effort to modernise the Crown's relationship with First Nations. The Prime Minister reaffirmed his commitment to charting a path beyond the Indian Act and is directing ministers to work in partnership with First Nations to develop that path.

First Nations leaders and First Ministers addressed closing critical gaps in emergency preparedness and policing in First Nations communities. Today, Prime Minister Carney announced more than $2.5 billion in funding over five years, and nearly $450 million in ongoing funding, through the Emergency Management Assistance Program, the Wildland-Urban Interface firefighting initiative, and the First Nations Fire Protection Strategy. This funding will better equip First Nations communities to conduct evacuations, provide emergency assistance, and rebuild homes and critical infrastructure following disasters.

The government also announced more than $630 million over four years, alongside $250 million in ongoing annual funding, to renew and expand First Nations and Inuit Policing Program agreements. Based on a robust, needs-based costing assessment, these agreements will substantially close gaps between First Nations and non-Indigenous police services. The federal government also announced an additional $140 million over four years to fund crime prevention and culturally sensitive community safety initiatives in Indigenous communities across the country.

The Government of Canada is making generational investments in education, housing, community infrastructure, and mental health support for First Nations. We are acting to ensure First Nations children on reserves have access to high-quality education, to expand access to culturally safe mental health and primary care services for First Nations, and to build safe, affordable housing for families on reserve and throughout the country. We introduced the First Nations Clean Water Act to improve access to safe drinking water and committed more than $4.5 billion to implement this legislation and build, maintain, and operate water and wastewater infrastructure on reserves. The responsibility of today's meeting and the conversations that will follow is ultimately to ensure that these investments, in addition to those made by provinces and territories, are made as effectively as possible. Together, we will keep raising our ambition to build a stronger, fairer Canada for all.

Quotes
"Canada's strength comes from what we can build and what we achieve together. That means working in partnership, government to government, to ensure that First Nations not only have the opportunity to build their community and country stronger, but to share in the wealth we create – including through new revenue tools such as a First Nations Sovereign Wealth Fund. Today, the federal government, provinces, territories, and First Nations leaders built on our progress and raised our ambitions to build bigger and better, together."
-- The Rt. Hon. Mark Carney, Prime Minister of Canada

"This historic meeting brought First Nations leaders, the provinces, territories, and federal government together to focus on our most important shared priorities: improving lives and creating lasting opportunities for First Nations communities. From major projects to housing, health, and strengthening emergency preparedness, we are working to ensure First Nations are full partners in building Canada's future."
-- The Hon. Rebecca Alty, Minister of Crown-Indigenous Relations

"Today marked more than a meeting. It marked a renewed commitment to work together, nation-to-nation, on the priorities First Nations have identified for our peoples and our communities. The investments announced today will help First Nations strengthen emergency preparedness, improve community safety, and build the infrastructure needed for future generations to thrive. Most importantly, our discussions are helping to lay the foundation for a future where First Nations are full partners in Canada's growth and prosperity."
-- The Hon. Mandy Gull-Masty, Minister of Indigenous Services

"We are working together with Indigenous leaders, along with provincial and territorial governments, to ensure that Indigenous communities all across Canada are places where people and families feel safe and secure. These historic investments will improve public safety outcomes and will help to respond to the unique policing needs and priorities of Indigenous communities."
-- The Hon. Gary Anandasangaree, Minister of Public Safety

Quick facts

• In December 2025, at the Assembly of First Nations Special Chiefs Assembly, Prime Minister Carney committed to convene a First Ministers and First Nations meeting in 2026.
• The meeting brought together nearly 200 First Nations chiefs and leaders, alongside the Prime Minister and provincial and territorial premiers, to discuss priorities identified by First Nations communities.
• Today's announcement builds on work already underway to build stronger First Nations communities across Canada:
• The federal government is working with Indigenous partners to close gaps in education on reserve by investing $3.5 billion annually to ensure Indigenous youth have access to high-quality and culturally safe education.
• We are building more homes for families on reserves and throughout the country – committing more than $4 billion to build safe new rental homes and affordable housing for Indigenous communities.
• In June, the Government of Canada introduced Bill C-37, the First Nations Clean Water Act, and has committed more than $4.5 billion to implement this legislation and build, maintain, and operate water and wastewater infrastructure on reserves.
• The federal government continues to invest $6 billion annually in culturally safe mental health and primary care services for First Nations.
• In partnership with Modern Treaty partners, the Government of Canada introduced Bill C-10, An Act respecting the Commissioner for Modern Treaty Implementation, to establish a Commissioner for Modern Treaty Implementation in order to strengthen federal accountability and oversight of modern treaty implementation and ensure Canada delivers on its commitments with Modern Treaty partners.
• Canada is working with Indigenous partners, who have stewarded lands and waters in Canada since time immemorial, to help lead conservation efforts in key areas including Canada's Arctic and west coast regions.
• These investments represent a portion of the Canadian government's actions. The annual expenditure of Indigenous Services Canada has grown at an average of 15% a year since 2018 – the year the department was created – to reach $26 billion last year. Infrastructure investment totals $33 billion over the past decade.
• Meaningful consultation with Indigenous Peoples is embedded in the Building Canada Strong Act, and Canada will continue to uphold its obligations including its Duty to Consult, Modern Treaty and Self-Government commitments, and commitments under the United Nations Declaration on the Rights of Indigenous Peoples Act.

This document is also available at https://pm.gc.ca

SOURCE Prime Minister's Office

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