Prime Minister Mark Carney swept aside criticism of the federal emissions cap and environmental assessment regime Friday, saying critics arguing the policies are preventing energy projects from being brought forward are “wrong.”

Speaking at an event at the Canadian Club in Toronto, Carney also pushed back on criticism of the $78 billion deficit in his government’s budget tabled Tuesday.

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He argued that slashing the deficit — the main target of Conservatives’ critics of the budget since Tuesday — would require eliminating a host of benefits and provincial transfers.

“We can hunker down, slash the deficit, turn inwards, and in the words of The Tragically Hip, wait for the ‘trickle down’,” Carney told the business crowd.

“That would mean getting rid of our key social pr

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