Canadian Prime Minister Mark Carney said the federal government will not be revising the system of financing cities and municipalities in the near future. He announced this on Friday at a meeting of the Federation of Canadian Municipalities in Ottawa.

Carney noted that Ottawa’s attention is focused on large-scale projects to build housing, ports and energy corridors that are necessary to strengthen the economy and respond to challenges from the United States.

Municipalities have been pushing Ottawa for years to give them greater financial autonomy, but Carney emphasized that revising the system requires serious negotiations with the provinces, since they are responsible for local government.

“We cannot wait for these discussions to be completed, so we continue to finance specific projects: housing, infrastructure,” the prime minister explained.

Federation of Municipalities head Rebecca Bligh said the current tax system is outdated and does not allow cities to develop.

Carney added that major infrastructure plans create opportunities for young people — not just jobs, but full-fledged careers in construction and energy.

“We’re going to be building this country for the next 25 years,” he said.