Investment outflows reached a record high, and the trend is getting even worse.
As I’ve said before, the Trudeau government is certainly planning to blame Canada’s upcoming economic struggles on the trade dispute with the US.
That’s why, in order to counter their planned deception, it’s essential to note that Canada’s economy has been severely weakening under the Trudeau government – long before trade problems with the US.
In fact, investment outflows reached a record high in 2017, with Canada losing a record $100 billion in investment.
At the same time, 2017 saw a huge drop in investment entering Canada, falling to just $30 billion.
As noted by the Financial Post, while this isn’t all the fault of the Trudeau government (with factors such as US tax cuts and regulation cuts reducing our competitive position), they certainly bear a large portion of responsibility for it:
As the FP says, “However, much blame for this deterioration stems from recent Canadian policies.”
“This worsening resulted from the increase in environmental and climate policies such as: The mandated closing of coal-fired electricity-generating plants in Ontario (and the rapid rise in electricity prices that followed); the capping of future extraction of oil in Alberta; and the prohibition of tanker traffic along the northern coast of British Columbia and of pipelines in B.C.’s Great Bear Rainforest. There was also the imposition of stricter conditions on the construction of pipelines to prevent oil spills and the requirement to obtain “social licence” before one could be built.”
Also, “The most important element of this progressive agenda has been the increase in taxes on corporations and high-income individuals and the prospect of still higher taxes through rising carbon taxes. Since an important part of the cost of the progressive agenda is covered by deficits, the growing debt portends even higher taxes in the future.”
This must be kept in mind and shared widely. The facts are clear: The Trudeau government bears a large portion of responsibility for Canada’s investment collapse, and they can’t be allowed to escape responsibility for it.
No amount of deceptive government spin can change that.
Photo – YouTube