Key Takeaways
- • Prime Minister Mark Carney convened a first-of-its-kind meeting in Ottawa between First Nations leadership and First Ministers, with the stated goal of advancing shared priorities and building a stronger, fairer Canada.
- • Leaders agreed to develop new revenue-sharing mechanisms, including a potential First Nations Sovereign Wealth Fund, with the Minister of Finance directed to work with First Nations leaders on how to establish it.
- • The federal government will amend the First Nations Fiscal Management Act to expand the First Nations Finance Authority's lending authority, making it easier for First Nations to finance investments in major projects.
- • The government announced $260 million over four years for the Partnerships for Indigenous Workforce Readiness Fund, plus more than $2.5 billion over five years and about $450 million in ongoing emergency preparedness funding.
- • Leaders discussed reforming or abolishing the Indian Act, with the Prime Minister committing to develop a path beyond it in partnership with First Nations.
Summary
Prime Minister Mark Carney convened a meeting in Ottawa on October 26, 2026, between First Nations leadership and First Ministers, according to the Prime Minister's office, 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.
On economic participation, the parties agreed to develop new revenue-sharing mechanisms, including the potential creation of a First Nations Sovereign Wealth Fund. Carney directed the Minister of Finance to work with First Nations leaders to determine how to establish the fund, with the stated aim of giving First Nations peoples a direct stake in major projects. The Prime Minister also announced amendments to the First Nations Fiscal Management Act to expand the First Nations Finance Authority's lending authority, which the government says will make financing easier for First Nations investing in major projects. Separately, the government announced $260 million over four years for the new Partnerships for Indigenous Workforce Readiness Fund and is developing an Indigenous-focused stream of the $8 billion Team Canada Strong initiative.
The meeting also addressed the Indian Act. Leaders discussed reforming or abolishing the legislation as part of a broader effort to modernize the Crown's relationship with First Nations. Carney reaffirmed his commitment to charting a path beyond the Act and directed ministers to develop that path in partnership with First Nations. The motion was brought forward by Manitoba Premier Wab Kinew, Canada's first Indigenous premier. Carney, who described the day as productive because participants "came with conviction," credited First Nations National Chief Cindy Woodhouse Nepinak with keeping pressure on Indigenous issues.
On public safety and emergency management, the Prime Minister announced more than $2.5 billion 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. The government also announced more than $630 million over four years, plus $250 million in ongoing annual funding, to renew and expand First Nations and Inuit Policing Program agreements, and an additional $140 million over four years for crime prevention and community safety initiatives.
The government also cited broader investments in education, housing, mental health, and water infrastructure, including more than $4.5 billion to implement the First Nations Clean Water Act.
On economic participation, the parties agreed to develop new revenue-sharing mechanisms, including the potential creation of a First Nations Sovereign Wealth Fund. Carney directed the Minister of Finance to work with First Nations leaders to determine how to establish the fund, with the stated aim of giving First Nations peoples a direct stake in major projects. The Prime Minister also announced amendments to the First Nations Fiscal Management Act to expand the First Nations Finance Authority's lending authority, which the government says will make financing easier for First Nations investing in major projects. Separately, the government announced $260 million over four years for the new Partnerships for Indigenous Workforce Readiness Fund and is developing an Indigenous-focused stream of the $8 billion Team Canada Strong initiative.
The meeting also addressed the Indian Act. Leaders discussed reforming or abolishing the legislation as part of a broader effort to modernize the Crown's relationship with First Nations. Carney reaffirmed his commitment to charting a path beyond the Act and directed ministers to develop that path in partnership with First Nations. The motion was brought forward by Manitoba Premier Wab Kinew, Canada's first Indigenous premier. Carney, who described the day as productive because participants "came with conviction," credited First Nations National Chief Cindy Woodhouse Nepinak with keeping pressure on Indigenous issues.
On public safety and emergency management, the Prime Minister announced more than $2.5 billion 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. The government also announced more than $630 million over four years, plus $250 million in ongoing annual funding, to renew and expand First Nations and Inuit Policing Program agreements, and an additional $140 million over four years for crime prevention and community safety initiatives.
The government also cited broader investments in education, housing, mental health, and water infrastructure, including more than $4.5 billion to implement the First Nations Clean Water Act.
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