Clueless: As Billions In Investment Flees Canada, Morneau Denies There’s A Competitiveness Problem

How can our economy get back on track if the Finance Minister can’t even identify the problems we’re facing?

Competitiveness problem? What competitiveness problem? Nothing to see here folks.

That’s how Bill Morneau is handling Canada’s growing competitiveness weakness, as he denies there’s any problem at all even as billions in investment flees the country.

Speaking to BNN Bloomberg, Morneau said“I will constantly go back to business people and listen to them and say, you need to help me to understand what exactly are the prescriptions to ensure we remain competitive. But what I won’t do is accept the frame that we’re not competitive.”

Added Morneau, “We do need think about those concerns around competitiveness that will always be there, but some are heightened right now: the discussion around NAFTA, the Trans Mountain expansion, the change in tax rates in the United States, the importance of keeping our labour force trained for changing job realities.” 

Reading Morneau’s comments, you’ll note that he left out the fact that investment in Canada has collapsed under the Trudeau government, as the chart below makes clear:

Opportunity Leaving Canada Chart

Funny how Morneau didn’t mention any of that.

Clearly, he has his head buried in the sand, and keeps doubling down on the ‘gender budgeting’ and virtue-signalling, rather than repealing the carbon tax, getting rid of excessive regulations, and cutting taxes for working class and middle class Canadians to spur demand and offset the impact of rising interest rates.

If Morneau can’t even admit there’s a problem, expect the investment exodus to keep on going.

Spencer Fernando

Photo – Screengrab

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Major Tom

So, who stands to gain by this ? Who are the Canadian fat cats? Are these the ones with the off shore bank accounts? I’ll just bet…..

Dave Bainard

As long as unions and gov’t workers use Morneau-Schepell for their pension/benefit packages, he won’t give a rat’s rear end about how bad the economy craters’


Greedy spoiled rich boys only think of what they want and how to get more, they have already proven that repeatedly.


My personal investments are leaving Canada as the opportunity presents itself. My target is 30% Canadian and the balance is American, Chinese, Asian, with a sprinkle of Australian and European for flavor. Sweden should be attractive but it continues to submit to radical Islamic terrorists and uneducated migrants so it is out. Belguim and France are a total loss and will soon be complete sharia hellholes, covered in no-go zones. Forget Britain. I refuse to support a Country that has it’s police forcefully protect rape gangs and blatantly bans free speech unless it is the right kind of preferred speech.… Read more »