Carson Jerema: Chairman Carney is here to take over the economy - "instead of outlining a plan that would actually increase exports, Carney’s speech at the University of Ottawa recycled nearly all of the themes he’s been talking about since he entered the Liberal leadership race in the winter. He talked of “hinge” moments and the need for making “tough choices,” about how we live in a “dangerous and divided” world and about how the “long process” of deepening economic integration with America is “now over.” When Carney said Canada’s “economic strategy needs to change dramatically,” he really meant it needn’t change much at all. The prime minister can talk about his government’s “60-day red-tape review,” but there is no plan to free the energy industry from the Impact Assessment Act, the tanker ban or the emissions cap. He can say that, “Budget 2025 will balance the operating deficit in three years,” but that ignores the fact that the true deficit could increase to infinite levels based on how the government defines “operating” and “capital” budgets. Liberal House Leader Steven MacKinnon has already dismissed as “ludicrous” the Conservative party’s demands for supporting the budget, which include keeping the deficit at $42 billion. What was most clear from Carney’s speech, like pretty much every speech he gives, is that he sees an expanded role for the government, and himself, over the economy. So while he acknowledges that Canada has been gifted with the “third-largest reserves of oil and the fourth-largest reserves of natural gas in the world,” he is almost entirely uninterested in those reserves. He trumpeted a “foundational agreement” with the European Union, but that agreement places a heavy emphasis on “renewables,” “low carbon technologies” and transitioning “away from fossil fuels in energy systems.” So perhaps the Liberals will behave differently than under the Trudeau years, but they will continue to grow the government in much the same way, perhaps while dating fewer pop stars. The Major Projects Office is tasked with streamlining approvals for infrastructure projects, but only those that meet the government’s approval and numerous requirements, including contributing “to clean growth and Canada’s climate goals.” Carney cited our changing relationship with the United States as the reason for going in a “new” direction, but his views on that relationship cannot be trusted. The prime minister won the spring election by campaigning on the lie that U.S. President Donald Trump’s public musings about annexing Canada were a serious threat, and the claim that he was best positioned to contain any economic damage from the tariff fiend in the White House. So far, Carney has little to show for it, other than what appears to be a cozy personal relationship with Trump. While the Americans may not always be the reliable partners we wish them to be, they are still the best option for global leadership. Yes, even with Trump in power. However, Carney talked Wednesday of “re-engaging” with China, a power whose intentions are clearly malevolent, which has interfered in multiple Canadian elections and whose military ambitions are a direct threat to the western world. Aligning with China will not alleviate Canada’s relationship problems with the Americans, but it will put our security and prosperity at risk... The reasons behind Canada’s middling economic performance are well understood, and it has nothing to do with a lack of government spending, even though Carney bragged about the government’s “fiscal capacity” on Wednesday night. No, this country is overtaxed and over-regulated. Would-be investors are mired in uncertainty. Rather than, say, rewriting regulations to get critical mineral mines up and running in less than the current 10-15 years, no government funding required, the Liberals would prefer to subsidize electric vehicle battery plants that may not be economically viable on their own, leaving Canada vulnerable to auto companies moving production to the U.S., which is exactly what is happening. At the core of Carney’s plans is putting government at the centre of the economy — to build homes, to make cars, to invest in artificial intelligence, to pick and choose what projects companies should build. The free market works because, through prices, it communicates information about scarcity and availability, about which products are in demand and which are oversupplied. It accounts for the countless decisions made by individuals and businesses every day, decisions that no one person or government department is capable of understanding in real time. This is why government is best left to creating clear and limited rules for markets to operate in, but instead Carney believes that he, alone, can run the economy."
Carney government should retire misleading ‘G7’ talking point on economic growth - "In the past, this talking point was frequently used by prime ministers Stephen Harper and Justin Trudeau and their senior cabinet officials. And it’s apparently survived the transition to the Carney government, as the finance minister earlier this year triumphantly tweeted that Canada’s economic growth was “among the strongest in the G7.” But here's the problem. Canada’s rate of economic growth relative to the rest of the G7 is almost completely irrelevant as an indicator of economic strength because it’s heavily influenced by Canada’s much faster rate of population growth. In other words, Canada’s faster pace of overall economic growth (measured by GDP) compared to most other developed countries has not been due to Canadians becoming more productive and generating more income for their families, but rather primarily because there are more people in Canada working and producing things. In reality, if you use the more appropriate measure for measuring economic wellbeing and living standards—growth in per-person GDP—the happy narrative about Canada’s performance simply falls apart. According to a recent study published by the Fraser Institute, if you simply look at total economic growth in the G7 in recent years (2020-24) without reference to population, Canada does indeed look good. Canada’s economy has had the second-most total economic growth in the G7 behind only the United States. However, if you make a simple adjustment for differences in population change over this same time, a completely different picture emerges. Canada’s per-person GDP actually declined by 2 per cent from 2020 to 2024. This is the worst five-year decline since the Great Depression nearly a century ago. And on this much more important measure of wellbeing, Canada goes from second in the G7 to dead last. Due to Canada’s rapid population growth in recent years, fuelled by record-high levels of immigration, aggregate GDP growth is quite simply a misleading economic indicator for comparing our performance to other countries that aren’t experiencing similar increases in the size of their labour markets. As such, it’s long past time for politicians to retire misleading talking points about Canada’s “strong” growth performance in the G7. After making a simple adjustment to account for Canada’s rapidly growing population, it becomes clear that the government has nothing to brag about. In fact, Canada is a growth laggard and has been for a long time, with living standards that have actually declined appreciably over the last half-decade."
Pierre Poilievre on X - "No wonder Carney wants to fire the Parliamentary Budget Officer. Canada’s top Budget Watchdog today published a brutal report exposing how Carney’s costly credit card budget cooks the books, doubles the deficit and promises fake savings. Canadians can’t afford the cost of Carney."
tobi lutke on X - "What you are actually doing here is to bribe nokia to put these jobs into Canada by paying hundreds of thousands of dollars per job from taxpayer money. What this does is to lower the cost basis of nokia per employee. This has been going on for decades, called FDI which all civil servants think is a good thing. I spent a lot of time explaining to civil servants in ottawa that its not good for our economy that American and Oversees branch offices can employ Canadians at half the cost to all the canadian companies around them due to these subsidies. We should not do them at all, they are toxic, at least in the tech sector. It's never meat to be this way, but the situation that very often arises is: It's strictly worse inside of Canada to be a Canadian company compared to a company headquartered everywhere else. This is a bad situation, because the fruits of the subsidized labor will accrue to the wealth of other countries and not Canada. It's tax payer money invested into locking up scarce high tech talent in jobs where they no longer contribute to the Canadian economy directly. Why"
Ezra Levant 🍁🚛 on X - "This is the most ominous thing I've read in 2025. This is the CEO of Shopify, Canada's largest tech company. It's almost as valuable as the Royal Bank. He's pretty clearly saying Mark Carney's corporate welfare strategy of bribing foreign companies to open up branch plants here undermines homegrown success stories like his. Carney is paying foreign companies to compete against Canadian companies. Shopify has shown it can win in the free market; but Carney's World Economic Forum style of "stakeholder capitalism" prefers to artificially choose other winners, by giving them billions. I'm so sorry to say it, but I predict that Shopify will relocate to Austin or Miami in 2026."
PM Mark Carney's housing photo op faked, Privy Council Office admits | Toronto Sun - "Newly released documents confirm the construction site used as a venue for Prime Minister Mark Carney’s Sept. 14 press conference announcing a new federal housing agency was nothing more than an elaborate — and costly — stage for the cameras... This prompted widespread criticism, with many accusing the government of erecting a “Potemkin village” for the benefit of the cameras."
Mark Carney leaves the AFN meeting early and immediately faces backlash from an Indigenous Chief : r/CanadianConservative - "Also left the House early during question period to attend the AFN meeting. Guy is so busy he can never stick around for questions."
"His personal attacks in question period were deplorable. When it became obvious that he has no other response to the PBO calling him out yet again his chief of staff must have told him to scram ASAP. Libs looked very weak and pathetic in QP yesterday on the whole. Too bad most voters don't even watch the soundbites let alone the whole thing."
John Ivison: Carney’s ‘commerce-first’ foreign policy spares no care for atrocities - "Even Justin Trudeau’s own one-time foreign affairs minister, the late Marc Garneau, thought the former prime minister foreign policy prioritized style over substance — a perception that he said weakened Canada’s standing on the international stage. It was to be expected that Prime Minister Mark Carney would attempt to distance himself from the man who took an ill-fated passage to India in February 2018, replete with braided sherwanis and bhangra dancing. It was a trip that played into the narrative that Trudeau was not a serious leader... Carney appears to have secured up to $70 billion of investment in critical minerals, ports and artificial intelligence from the Emiratis. The release announcing the good news contained a paragraph on the ongoing massacres in Sudan, where both leaders condemned attacks against civilians by the Rapid Support Forces and the Sudanese Armed Forces, and called for an immediate ceasefire in the civil war that is devastating that benighted country. So far, so ho hum. Except, as a recent report by the Montreal-based Raoul Wallenberg Centre for Human Rights makes clear , UAE is not just another disinterested observer in Sudan’s misery: it is a key architect of it. After the popular uprising against the dictator Omar Al-Bashir in April 2019, the new civilian government was undermined by UAE in favour of the Rapid Support Force (RSF) — the former dreaded Janjaweed — under the command of Gen. Mohamed Hamdan Dagalo, known as Hemedti. The Emiratis covertly armed the RSF, the United Nations alleges, in the face of warnings that the force would commit ethnically targeted mass killings, as it did in 2003. The report, authored by Mutasim Ali and Yonah Diamond, says there is “substantial evidence” linking the UAE to the RSF, including informants who confirm the Emirates has supplied heavy weaponry, armoured vehicles, munitions and drones through Chad and Kenya. The report pointed to an article in the New York Times in June that alleged direct communications lines between Hermedti and Sheikh bin Zayed. The key motivation for the Emirates appears to be gold, which has emerged as the key conflict commodity. Control over gold-mining operations and trade has become a central driver of the civil war, the report said, with 50 to 80 percent of the 70-million tonnes produced annually smuggled abroad, principally to the UAE. The word “genocide” has been thrown around with abandon in recent months, but what is taking place in Sudan merits its use — namely, specific acts carried out with the intent to destroy in whole, on in part, an ethnic or racial group, in this case, the non-Arab population of Darfur. The RSF captured the city of El Fasher last month and satellite images have since shown RSF fighters burying bodies in large numbers in an apparent effort to hide the evidence of mass slaughter. The Emiratis deny the allegations but have not provided any evidence to the contrary, particularly on the 85 cargo flights that are said to have transferred arms. The UAE has directly and indirectly enabled the RSF and its allies to carry out war crimes and crimes against humanity, the report says. “The UAE bears complicity in these crimes,” it concluded, adding it is breaking the Genocide Convention in doing so. At a press conference to highlight efforts to create an all-party parliamentary coalition to call for action, former justice minister Irwin Cotler said the latest tragedy highlights the international “indifference, inaction and impunity” since the last genocide attempt in Darfur 22 years ago."
Time to sanction Israel, since we know "Zionists" are behind everything wrong in the world
Kelly McParland: Carney buries Trudeau's 'feminist foreign policy' - "Much as he’d like to concentrate on his plans to transform Canada, Mark Carney still finds it necessary to explain to people that he’s not Justin Trudeau. Weekending in Johannesburg on one of his regular missions to drum up business, he found himself being queried about his government’s dedication to gender equity. That was a big concern of the previous Liberal regime, but one that’s had a lower billing with the Carney camp... “We have that aspect to our foreign policy, but I wouldn’t describe our foreign policy as feminist foreign policy,” the prime minister replied. “Those are different points, but related.” The remarks were reported as a sharp shift away from a decade of Liberal policies that saw gender equality as a core principle. The Trudeau government never spelled out in detail exactly how the policy worked, but the former prime minister and his top lieutenants regularly declared their dedication to feminist values at home and abroad. I expect Carney would strongly object to any suggestion he’s anti-feminist; instead, he was making the point that demanding progress on feminist priorities doesn’t supersede all other interests in Canadian public policy... The focus of his travels has centred mainly on economic issues and the upheaval in world relations: what to do about Trump, what to do about Ukraine and Russia, what to do about China, what to do about Canada’s chronic status as a large but underperforming economy... It’s been like that for much of the Carney agenda. A record of stops and starts, advances and retreats. He won a pledge for $70 billion in investments from the United Arab Emirates last week; yet at the same time a big meeting on interprovincial trade indicated Canadian premiers still don’t quite grasp the concept of a barrier-free country. A “mutual recognition agreement” reached in Yellowknife heralded supposed advances in cutting barriers, but excluded food, alcohol, tobacco and plants, and “does not currently apply to how a good is sold, or who may sell or purchase it.” A separate memorandum of understanding was reached on transportation issues, a key barrier to progress, but wasn’t released pending further discussions."
Lorne Gunter: Liberals' hatred of Alberta and oil obvious in major projects snub - "Both the CBC and the Globe and Mail were given advanced copies of Carney’s list of Round Two projects. And like the first round he released in September, it not only doesn’t include a pipeline from Alberta to the West Coast, it doesn’t include any projects in Alberta at all. To add insult to this oversight, the Ksi Lisims LNG pipeline that is supposed to be included in Thursday’s announcement will not take any natural gas from Alberta to an LNG terminal on Pearse Island north of Prince Rupert. The only gas will be from B.C. Could it be that Alberta’s oil and gas are being deliberately targeted? There have been recent reports that the Liberals’ environmental caucus (made up mostly of the most radical “green” members of Justin Trudeau’s cabinet and caucus) have been upset with Prime Minister Carney’s decision to delay the implementation of Ottawa’s electric vehicle (EV) mandate for at least a few years. A move to landlock Alberta’s resources could be a bone thrown to the eco-caucus so they don’t create problems within the Liberal party. Such a move would also not be a stretch for Carney, who was himself an environmental ambassador for the United Nations before becoming Liberal leader. One of the members of the Liberals’ “green” caucus, Steven Guilbeault (who endorsed Carney for leader), did all he could to shut down the resource industry while he was Trudeau’s extremist environment minister. Whenever you’re talking about the Liberals, remember that nothing motivates them more than thoughts of re-election. They have 20 seats in B.C., just two in Alberta. What’s more, the Liberals’ 20 B.C. seats are mostly in the “green”-obsessed Lower Mainland. An oil and bitumen pipeline from Alberta to Prince Rupert would anger Liberal voters in B.C., without winning them any votes in Alberta. Most of Carney’s high-profile projects, especially in the first round, were shams. Before he announced them two months ago, most of them were already approved and under construction... Alberta Premier Danielle Smith has got to stop making nice-nice with Carney and the Liberals. Smith claims she is “still working” with the federal government on approval of a pipeline to the B.C. coast, plus a major carbon-capture project or two. She also thinks she might convince the Libs to repeal of what she calls the “nine bad laws,” including the emissions cap on oil and gas, a tanker ban off the West Coast and the net-zero electricity mandate. Those Trudeau-era laws scared away hundreds of billions of dollars in investment to our province"
KLEIN: Is this the beginning of Canada’s collapse? - "Across the federation, serious discussions about separation are gaining traction. These aren’t fringe activists shouting into the wind. They are business leaders, community figures and everyday residents who believe their province is no longer respected or represented by the federal government. What is most alarming is how many Canadians dismiss these conversations as background noise, as if unity is something that sustains itself without leadership or action. Take Quebec. The Parti Québécois has revived the sovereignty project with more detail than we have seen in years... the most pressing danger is coming from the West, and the warning signs are impossible to miss. Prime Minister Mark Carney recently announced another round of so-called nation-building projects. Once again, an Alberta pipeline was nowhere to be found. At this point, that omission is not an oversight. It is a message. And people in the West have heard it loud and clear. Grant Fagerheim, the CEO of Whitecap Resources, didn’t soften his words when asked about Ottawa’s refusal to prioritize pipeline development. He warned that if the federal government continues to stall, we should expect “fury from Alberta and Saskatchewan.” He’s right. Their patience is wearing thin. And why wouldn’t it? These are the only two landlocked provinces in Canada. They rely on cooperation from Ottawa to get their energy to international markets. Instead, they face regulatory walls and political lectures. Fagerheim wants something very simple: a federal government willing to help break down barriers so Canadian products can reach global buyers without being sold at a discount. That isn’t radical. That is common sense. But common sense has been missing in Ottawa for years. Meanwhile, Americans continue selling our oil and gas to other countries at a premium while also benefiting from cheaper domestic fuel. We have allowed ourselves to become a captive supplier to the United States. A pipeline to tidewater would give Canadians access to international markets instead of being forced into the role of junior partner in our own energy economy. Yet when Alberta proposes a bitumen pipeline or even a broader energy corridor that could move natural gas, oil, rail and electricity across multiple provinces, Ottawa hesitates. Fagerheim’s vision is practical and rooted in economic reality. He knows the industry inside and out. His company just completed a massive merger to create a leading Canadian light oil producer. He’s not making emotional arguments. He’s speaking from experience. He is also blunt about the political double standard. If these resources were in central or eastern Canada, he believes “this would be a different game.” That shouldn’t be controversial. It is supported by decades of decisions that favoured one region’s priorities over another’s. And he’s right that the energy sector has been demonized. Few Canadians seem aware that Western producers spend enormous resources on emissions reduction, carbon sequestration and responsible development. Saskatchewan is home to one of the largest carbon sequestration projects on the planet. It earns applause in Europe and Asia, but barely a mention in its own country. How long can a federation survive when the engine of its economy is treated like an inconvenience?... For provinces like Manitoba, this is a direct threat. If Alberta and Saskatchewan decide they have had enough, equalization payments collapse. Manitoba would face financial devastation. Services would be slashed. Our economy would take a hit that would take generations to recover from. These are not speculative warnings. They are mathematical realities. Yet Ottawa continues selecting projects in regions with the most votes, while the West is expected to wait patiently for recognition. That pattern erodes trust. And without trust, there is no federation. Corporations see this instability too. Every headline about sovereignty, every political fight over pipelines, every sign that Ottawa is unwilling to support resource development makes investors hesitate. Capital is mobile. If uncertainty grows, companies will place their money elsewhere. Canada cannot afford to bleed investment and expect the economy to somehow hold together. We are already losing ground. Printing money and hoping inflation will settle is not a plan. It is a gamble."
Time for more concessions to Quebec, funded with Albertan money, while mocking Albertans as traitors, condemning the US, and continuing to destroy the oil and gas industry
Guns versus butter: Canada's military-industrial complex - "According to the Mark Carney Liberal doorstopper piece of economic fiction, the 2025 Canada Strong budget, Ottawa plans $81.8 billion in new military spending that will help boost the economy and create thousands of high-paying jobs. “Our government is making a generational investment in defence that will create good, high-paying careers for Canadians, and strengthen our economy and collective resilience.” The new military spending “will create good, high-paying careers for Canadian workers and drive investments that strengthen our economic, infrastructure, and collective resilience.” Ottawa, it repeated, will “reform defence procurement to make it easier and faster to buy Canadian-made equipment — supporting our domestic defence industry and creating high-paying careers.“ Unfortunately, the idea that defence spending and investment automatically boost economic activity and growth is far from being a solid pillar of economic theory. As the pressure grew on Canada to increase defence spending to up to five per cent of GDP as part of an expansion of NATO commitments, various economists issued papers over the past year that cast doubt on the links between defence spending and economic benefits... The negative aspects of defence spending include possible “capital leakage, fiscal overspending, and the risk of diverting resources from more productive sectors of the economy.”... research suggests “that the economic impact of increased military spending in Canada will depend closely on the specific types of expenditures undertaken, its military characteristics (capital intensity), and its ability to generate spillover effects within a military-industrial complex.” Which means that the deeper Canada becomes involved in the international military expansion boom, perhaps the economic impact will be positive. A European Commission summary of the economic impact of higher defence spending failed to find positive evidence"
Carney forced pension funds to back Canada. What happened next is a warning for Reeves - "Melanie Joly, his industry minister, has told fund providers to invest more of their C$3tn (£1.6tn) of assets at home to help the turn to economic nationalism. But now, this wave of “pension nationalism” risks spiralling out of control. Cash-strapped Canadian provinces – tempted by the prospect of a new source of much-needed capital – have rushed to copy the approach and invest pensions in local projects, pouring people’s savings into potentially unprofitable ventures. The embrace of pension nationalism risks getting “very messy” for millions of Canadians’ savings, senators and former Bank of Canada officials told The Telegraph... Canada’s Maple Eight pension system has become the envy of the world since it was introduced in the 1990s. The scheme unites the country’s public sector funds which pay out defined benefit pensions. It is famous for its independent fund managers and its diversified, global portfolios in private markets. With that model, the Maple Eight have delivered a higher net value add to savers in the past 35 years than any of its competitors around the world, according to CEM Benchmarking, a pension data analytics firm. But experts say that tradition risks being sacrificed as Carney looks to use all the economic tools available to him – including the Maple Eight – to fortify Canada against American threats. Paul Beaudry, who previously served as deputy governor of the Bank of Canada, warned that the “arm-twisting” involved in forcing pension funds to support development goals risked descending into “crony capitalism”. “You want to be very careful not to coerce the pension funds because then you open up a whole set of issues. The accountability of the pension funds is towards the pensioners, so that can get very messy”, he said. Sebastien Betermier, associate professor of finance at McGill, said pension nationalist policies like mandated investments were “the equivalent of imposing a tax on pensioners”. “It’s a dangerous path that risks lower returns for savers. Every fund at the end of the day will want to maintain a globally diversified portfolio”, he added. Meanwhile, the threat of “pension nationalism” spreading to the Canadian provinces risks even further damage as savers’ money is used to fund projects that could yield lower returns. François Legault, the Quebec premier, has announced a “Quebec Power” programme – pushing the French-speaking province’s Caisse de Depot pension fund to invest in the anaemic local economy. Similar moves are being made in Alberta – the western province often referred to as “Canada’s Texas”. Danielle Smith, the populist premier, wants to withdraw the province from the federal pension fund in a bid, according to her critics, to pour people’s savings into the single large local industry: oil and gas. Critics claim that when pension nationalism is put into practice, particularly on a more local level, it can lead to a large portion of people’s savings being concentrated in a small set of industries – with too many of their eggs in one basket. Senator Clement Gignac, an economist and former Quebec cabinet minister, said: “At the end of the day, if you want to have a decent revenue at retirement, you know you have to diversify. “The funds have to be managed by professionals. It’s not the business of politicians.” Mr Beaudry claimed that politicians should be in charge of a “big enough unit” before they “even think about pension nationalism”... Quebec’s main pension fund, the Caisse de Depot, has historically worked differently than the rest of the Maple Eight because of its origins in the Quebecois nationalism of the 1960s and 1970s. Since it was founded, the fund has had a “dual mandate” which requires it to boost the provincial economy on top of the normal fiduciary responsibility to savers. But in recent decades, as Quebec faced a rapidly ageing population, the Caisse fund shifted its strategy towards globalising its portfolio – an approach which yielded great success and avoided financial insolvency. Daniel Béland, a political science professor at McGill, warned Mr Legault’s measures could turn the fund back to the past and threaten its financial future once again."
When returns fall, it will be proof that capitalism has failed and more regulation is needed
Jasmin Laine 🇨🇦 on X - "Can we drop the whole ‘Conservatives are terrible’ thing already? They’ve run Canada for 9 of the last 32 years… and the last 10 have been under this mess. So who’s really to blame? The Conservative government that—by every metric—had us on the right track… or the establishment that’s had a 32-year grip and has been manipulating you to keep them in power?"
Clearly, this shows how damaging Harper was, such that he's ruined Canada forever
Ryan Gerritsen🇨🇦🇳🇱 on X - "A great clip summarizing the long list of bad policies Carney’s Government still has in place. Canada will never prosper under a Liberal Government."
Roman Baber on X - "Carney sent @FP_Champagne and @AnitaAnandMP to Mexico in an act of desperation. Mexico wasn't interested. @MarkJCarney has terrible judgement."
“It is essential not to contribute to increased oil and coal production and to focus on renewable and transition energies." - Marc André Blanchard, Mark Carney’s new Chief of Staff : r/Ontario_Sub
What will you sacrifice for Carney and country? - The Globe and Mail - "The budget, to be voted on by MPs on Monday, had much-hyped cuts to the public service. But there were no major tax hikes or cuts to social programs. The budget had nearly $90-billion in net new spending. To pay for that, we borrow on the bond market. Canadians down the line pay that back. Canada’s books are relatively good, and the government says we’ll borrow less next year. But we say that year after year, announce more borrowing and shift the goalposts. The trend is worrying. In Britain and France, debt devastates state capacity and breeds instability because those countries once thought their books were good, too. Instead of asking what we can do for future generations, we asked what future generations can do for us. That is not sacrifice. A prebudget Globe editorial cartoon was surprisingly prescient: It showed kids handing Mr. Carney their Halloween candy. If we want to, in Mr. Carney’s words, “invest more” and “reinvest in the Canadian Armed Forces,” we should pay for today’s spending today. The cuts to the public service are positive. Ideally, we should cut more, such as from Old Age Security, which benefits rich as well as poor retirees. But OAS seems a sacred cow no party dares touch. Indeed, a lot of federal spending covers various benefits, health care and social services – politically impossible to cut... Many economists agree that taxing consumption does less to hurt productivity than taxing income... Ireland gives tax incentives for business investment, but that is balanced by consumption taxes as high as 23 per cent. From 1995 all the way up to the 2008 financial crisis, Ireland’s economy grew 6 to 10 per cent per year, on average... in Canada consumption taxes are not charged on necessities such as groceries, and lower-income folks get some back via the GST credit payment. If we worry about the regressive impact of a higher GST, we can always up the credit... Michael Wernick, former clerk of the privy council, has suggested a 2-per-cent “defence and security” consumption tax. It’s really just a GST hike, but his proposal labels where the money goes and separates it... this tax should be clearly labelled such on receipts. And the cheque and letter sent should not only elaborate in detail what that additional GST buys but also include a personal thank you from a real person. If it’s a defence tax, the thank you could be from a soldier. We can go even further and have high-schoolers pitch in, thanking taxpayers for not saddling them with debt in the future."
Tasha Kheiriddin: Don't fall for Carney's 'Buy Canadian' fallacy - "Protectionists, start your engines. On Monday, Prime Minister Mark Carney unveiled a “Buy Canadian” procurement policy that prioritizes Canadian suppliers for all manner of federal spending, including a second set of national “major projects” he’s announcing on Thursday. “We will build Canadian, by becoming our own best customer,” Carney intoned. Ottawa will allocate nearly $186 million in new funding to the policy, including “streamlined support for Canadian small and medium-sized businesses trying to break into the federal market.” At first blush, this sounds incredibly patriotic: make things at home, spend our tax dollars on our own businesses, support Canadian jobs. But it also represents a retreat from the free trade policies that have served Canada so well, while doing nothing to counter the big bugbear of our economy: low productivity. It makes a virtue of corporate welfare, whereby the government picks economic winners and losers, in this case based solely on nationality. The “Buy Canadian” doctrine effectively gives Canadian companies a guaranteed market, regardless of how good their products are, or how efficient their business is. But guaranteed markets breed complacency. The drive to cut costs, innovate, and reach new markets vanishes — and consumer prices go up. Case in point: for decades, Canadian regulations have sheltered our Big Six banks and our telecom monopolies from competition. As a result, Canadians pay billions in “excess” bank fees and some of the highest telecom costs in the world. Supply management policies do the same thing for agricultural products, keeping foreign competition out and raising the cost of staples like eggs and milk for consumers. Worse yet, attempts to prefer “home-grown” businesses can lead to graft and waste. The $59-million ArriveCan procurement scandal resulted in part from guidelines requiring the awarding of contracts to Indigenous-owned firms, which saw companies pretending to be First-Nations based to get deals. In fact, Ottawa’s entire IT procurement policy was slammed for a lack of variety in suppliers. When you erect trade walls — even patriotic ones disguised as procurement policy — you also stunt productivity. According to the Bank of Canada , a more competitive business environment would drive greater innovation and efficiency, particularly for small and medium-sized businesses, the very ones Carney’s strategy now wants to prefer. Canada’s productivity problem will not be solved by stifling competition, but by opening it up. And contrary to the naysayers, free trade has benefitted both Canadians and Americans. The Bank of Canada found that real income rose by 15-40 per cent due to Canada-U.S. free trade. Canada is now the top export market for 36 U.S. states, supporting millions of American jobs. The U.S. trade deficit with Canada is due entirely to energy imports , which America has enjoyed at below-market rates for decades. This energy has in turn fuelled their domestic industries in everything from manufacturing to AI... If we insist our government spend only on Canadian goods or services, other nations will respond in kind, and our firms lose access to markets... Industrial policy and procurement nationalism produce winners by government decree rather than by merit; they protect sectors and shield them from competition; and they shrink markets and squelch innovation. Carney should not swap Canada’s trade advantage for the illusion of self-sufficiency."
The same people who support this bash Trump's tariffs and denounce "greedy" corporations for raising prices, of course