Carbon taxes and increasingly burdensome regulations imposed by the Trudeau government have caused a collapse of investment into Canada.
A chart based upon Statistics Canada data shared by the Conservatives shows the full extent of the investment collapse under the Trudeau government.
The chart can be seen below:
As we can see, foreign direct investment into Canada had been increasingly steadily under the Harper government since the 2008 financial crisis.
Yet, after reaching nearly $80 billion under the Harper government in 2015, once Trudeau was elected it fell to under $50 billion in 2016, and fell even further to under $40 billion in 2017.
Worst of all, this investment decline is not being replaced by increasing investment within Canada, as our domestic economy is weakening as well.
This is a direct result of the policies being imposed by the Trudeau government, including the escalating carbon tax, and burdensome regulations – such as more and more uncertainty surrounding energy sector project approvals.
Another factor behind the investment collapse is the fact that the Trudeau government has shown themselves to be more interested in virtue-signalling than they are in dealing with increasing economic competition from our neighbours to the south.
So, many businesses look at Canada and then look at the US, and are seeing more opportunity in the US. Added to that is the uncertainty created by the overall attitude of the Trudeau government, who seem to be actively discouraging the growth of the Canadian economy by imposing the kind of policies that have caused so much damage in Ontario – making everything more expensive and reducing the opportunity for businesses to succeed and expand.
This investment collapse means billions less that could have been used to lower taxes, strengthen infrastructure, build up our military, improve healthcare, and many other things. Instead, because of Trudeau’s policies, all of that potential is lost.
Photo – Twitter