As a potential airport user, I’m not too pumped up about the airport investment stuff as I would anticipate greater expense and worse service, but what I would guess is the reasoning there is that Carney is looking for a relatively stable domestic location that is big enough for the Canadian pension funds to store a bunch of dough - and there will be some dealings with unsavoury sorts to make that a reality.
My mental processing power is all potato based, so I probably don’t really understand what is happening.
The silly thing about the airports is it’s already multinationals that run the operations for half the airports in Canada.
Imagine how much stuff are going to require an app with login just to get working, imagine having to tap your bank card to use the suitcase trolley, imagine the amount of data collection done on you to sell to the highest bidder - gotta make profits!
Two problems. We moved past nation states. Borders don’t mean anything anymore because the modern age has found ways through them. This is what you get when you don’t adjust policy and governance to that reality.
Second. As others have said leaders are happy to sell out for cash infusions in their ridings, corporate jobs, whatever.
Losing the fight? Been all in on foreign ownership for decades
The only time it’s not is when it’s protecting the few families that own alot of this country telecoms and monopolies
Bit weird to call it a fight, when our govt is actively encouraging it.
Ignoring data sovereignty for a moment: Carney’s investment summit will probably push that further.
You know the attendees of that conference were Canadian pension funds, right?
Do you have a source stating the investors were only domestic?
Just going off the PMO’s presser, I haven’t seen a complete guest list. List was Sunlife etc al, TD et al, etc.
I’m sure it wasn’t exclusively domestic, but of the specific “investments” announced, all were domestic that I saw.
Larry Fink (CEO, BlackRock), Annette Mosman (CEO, APG Groep N.V.), Jonathan Gray (CEO, Greystone) and Dilhan Pillay Sandrasegara (CEO, Temasek Holdings) …
C.S. Venkatakrishnan (CEO, Barclays) and Christian Sewing (CEO, Deutsche Bank)
https://www.cpac.ca/headline-politics/episode/canada-investment-summit-afternoon-panel-discussions
I think the pmo announced that that summit was being held in partnership with a bunch of pension funds, but the point was to attract international investment.
Yeah I found similar info a few hours ago when I commented “a smattering of everyone”.
I don’t have an outright issue with seeking foreign capital to help fund domestic projects, so long as GoC continues to own the underlying assets and infrastructure. The devil will be in the details as to how good or bad any particular investment will be.
Generally speaking I wish Canadian pension funds and banks were more interested in national projects and less interested in REITs. Japan’s managed to build much of their infrastructure by having 30 year+ investors (pensions) fund 30 year+ projects. Ours just buy REITs and hope line go up, adding nothing to our fundamentals.
Looks like it’s a smattering of everyone.
I have mixed feelings at present moment. Having infrastructure domestically is critical for our sovereignty and time-restricted targetted tax breaks for bringing jobs here can be a net positive for the economy, as long as you don’t get addicted to the high. Which I think is likely.
Capitalism puts capital above all else, the US has more capital than Canada so they will benefit the most from this system.