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Prime Minister Mark Carney is joined by Doug Guzman, the CEO of the Defence Investment Agency, left, and Secretary of State (Defence Procurement) Stephen Fuhr, right, at the Canadian Association of Defence and Security Industries trade show CANSEC, in Ottawa, on Wednesday, May 27, 2026. THE CANADIAN PRESS/Justin Tang
By The Canadian Press

Liberals table bill to make Defence Investment Agency a Crown corporation

Oct 6, 2026 | 10:29 AM

OTTAWA — The federal Liberal government has tabled new legislation to turn its Defence Investment Agency into a Crown corporation — a major revamp of the plan created just months ago.

Bill C-40 will create an entity called the “Canadian Corporation for Defence Investment,” which will report to a new associate minister of national defence dealing with procurement.

The federal government says as a Crown corporation, the agency will have more independence from government, get its own board of directors and be able to make decisions more quickly.

Prime Minister Mark Carney created the Defence Investment Agency in October 2025 to streamline defence procurement, and appointed former Royal Bank of Canada banker Doug Guzman to head it as CEO.

In the spring, the Carney government announced plans to make the new office into a departmental agency and put it under the control of a dedicated minister.

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At the time, Secretary of State for Defence Procurement Stephen Fuhr defended that model over making it a Crown corporation, saying an agency would give the government more control over its spending.

This report by The Canadian Press was first published Oct. 6, 2026.

Kyle Duggan, The Canadian Press

by The Canadian Press

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