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    Carney kündigt Staatsfonds an – The Globe and Mail

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    2. Fernpick on

      We don’t already have a sovereign wealth fund?
      What the hell have we been doing with all that oil money all these years.

    4. mmoore327 on

      Finally – you’d think resource rich countries would have learned from the success of Norway and done this years ago…

    5. UnionGuyCanada on

      Amazing news. Should have been done years ago but will give us so much autonomy in the future. 

    8. Maximum_Error3083 on

      So the Norway fund works by taking all the tax and investment revenue the government makes from oil companies and investing it, and then limiting the amount the state can draw from it to no more than the expected annual rate of return (3%).

      Hopefully this would be set up in a similar way where the government is just setting aside and investing the revenues it gets from energy development that can fund future projects, and it can’t tap into the wealth as a slush fund. But that also means that general revenue currently being spent elsewhere has to be replaced.

    9. TheStigianKing on

      How is this even going to work when the government spends more than it brings in?

    10. Asusrty on

      How are we going to put money into a Sovereign Wealth fund when we are running massive deficits? We haven’t had a balanced budget in almost 2 decades.

    12. BigBangBoomerang on

      How is Canada to start a sovereign wealth fund when the federal budget deficit is so high? Norway’s SWF came from revenue surpluses due to oil sales. And oil in Norway is state-owned.

    13. MrRogersAE on

      And this is why he needed a majority. No way this would have made it thru with a minority government.

    14. Bobaximus on

      The best time to create a sovereign wealth fund is yesterday but the second best time is today…

    15. WindHero on

      Sounds like a copy of the Canadian infrastructure bank, not a sovereign wealth fund.

      A sovereign wealth fund is where you invest extra capital that your government saves for the future instead of spending it. This sovereign wealth fund will be spending extra capital on government projects without having any accumulated capital. So the opposite of a sovereign wealth fund.

      But hey it’ll have a new CEO and management team that Carney can nominate. Maybe the Canadian infrastructure bank CEO needs a second salary?

    16. Zestyclose-Class-998 on

      If Canada runs a large deficit, where does the money to seed the fund come from? It comes from you, the tax payer. Do you believe the government is a better capital allocator than you? Would you prefer to invest money yourself for yourself?

    17. braytag on

      And well dip into it… just once…. then again cause this is a crisis…. then it’s going to be free for all.

      Before this, how about we pay off the deficit?

    18. johnnybadapple on

      Let me guess, his company (Brookfield) is going to manage the fund and take a percentage of our tax dollars right off the top, regardless of performance.

    21. dollarsandcents101 on

      This isn’t a sovereign wealth fund. A sovereign wealth fund invests in diversified assets globally for the good of the people, not to finance the government’s infrastructure spending.

    22. Far_Goal_8605 on

      He is lying to you again: the Build Communities Strong Fund (BCSF) is a federal grant and contribution program, not a sovereign wealth fund.It is not a Norway style of fund ( as I see many people saying here) – it doesn’t even have an independent Investment Manager appointed. It’s just a way to spend money for the government. Downvote all what you want.

    24. scrubadam on

      So exactly how is this going to work.

      Norway taxes their oil and invests and keeps the money out of the coffers of politicians

      What Carney said basically sounds like just another loop hole to blow the budget open by using this fund to fund liberal pet projects. But how is this SWF going to be funded? We stifle our O&G industry. Are we going to tax other industries into oblivion?

      And we are supposed to trust that the government will just not treat this fund as some sort of piggy bank? Carney mentioned Canadians can contribute so its basically going to be like a combo of CPP and RRSP/TFSAs?

      Like if we were a rich country with surplusses I could understand but I am scratching my head figuring out how this will work and outside of Government using it as a means to fund projects so its not counted in the budget I don’t see how it benefits Canadians.

    25. Warm-Mood-8994 on

      Great idea but how will they fund it. This government is already running unprecedented deficits.

    26. FalseZookeepergame15 on

      This is great that we’re doing this. The big question will be the process to fund this SWF. Carney just drop a short video on YouTube about and it looks like Canadians can contribute to the fund, probably through sovereign bonds or something similar. I’ll wait until I see the press conference later this morning. I’m actually quite excited to see where this goes.

    27. Speedraca on

      How are we going to fund a sovereign wealth fund? We consistently run deficits each year at the federal level, so any tax revenue we take to start the fund will just mean a larger yearly debt, no?

      I love the idea, but is this not the equivalent of me trying to start an emergency fund when I can’t even pay my monthly expenses?

    29. Disclosjer on

      Sovereign wealth funds around the world are riddled with fraud, embezzlement,and corruption. Hopefully our will have the proper safeguards in place. /s

      Read “The Billion Dollar Whale” and 1MDB / Saudi’s PIF if you doubt me.

    30. DancinJanzen on

      We broke. How the F is this supposed to work. Are all the people chearing this on that financially inept?!

    31. Skyfall_DBS on

      Singapore is an example Canada should follow. Sovereign wealth fund GIC is worth about $800b and Temasek is worth $434 billion. 20 year nominal return about 5.8% for one and about 7-8% on the other. For a nation of approximately 6m people and zero natural resources.

    32. Radiant_Ad_6986 on

      Some logical things need to be asked.

      Firstly, Sovereign wealth funds are generally funded from resource royalties, fiscal surpluses, or profits from state owned enterprises or infrastructure. Unless we’re going to completely overhaul our royalty system, our current royalty revenue is pretty much spoken for. Forget about fiscal surpluses or profits from SOEs and infrastructure, that money goes to fund massive deficits. So where is the money going to come from?

      Secondly, we have the maple 8 pensions funds that supposedly are highly sophisticated and have over $2T in assets. Those are our pseudo sovereign wealth funds. Why are we duplicating what we already have? Why not try to work on changing regulations to make Canada an attractive place for these funds to invest instead of them allocating 50-60% of assets to the US? Why are we now creating another bureaucracy with individuals getting paid millions, instead of fixing core issues like the regulatory environment and consistency in decision making and court decisions?

      These are just some logical questions to ask.

    33. Plucky_DuckYa on

      With what money, exactly?

      The federal government makes a massive “profit” if you will from Alberta. From 2014-2024 they took in $126.6 billion more from Albertans and Alberta companies than they spent back in the province. Per capita that was about $28k per person. The only other two provinces they made a “profit” from during that period were BC at $58 billion and Ontario at $57 billion.

      Problem is, they can’t take those “profits” and dump them into a sovereign wealth fund, because they are running massive “losses” with every other province. They spent $235 billion more in Quebec than they took in from the province during the same period, and $197 billion more in the Atlantic provinces than they took in.

      In other words, we are already running massive deficits and have no spare dollars to dump into a sovereign wealth fund. Other countries who do these things are able to do so because they bring in more money than they spend.

      This sounds like just more high-minded, big Liberal talk designed to appeal to their base but for which there’s no realistic way to succeed. Unless, of course, they are going to gut spending, massively raise taxes or try to rewrite the constitution to allow them to directly glom on to resources, which are owned by the provinces. None of that is going to work, and in the last case it would instantly cause the large majority of Albertans to vote for separation at the earliest opportunity.

    34. VersusYYC on

      “The second half of the bill, the Building Canada Act, enables the federal cabinet to pick projects, approve them upfront and override federal laws, environmental reviews and the permitting process.”

      We’ll now have to wait and see if the Liberal weirdos that would normally oppose these things will be on board. You can imgaine their internal screams had a Conservative government proposed the exact same thing.

    35. Wolfman-101 on

      It shows how many people just read the headline, without reading the article.

    37. BlueZybez on

      Well a sovereign wealth fund invests globally so not sure if that is what we are planning to do. There also needs to be money coming from somewhere to go to the SWF. Our pensions funds do pretty well globally investing in assets worldwide.

    39. RefrigeratorOk648 on

      So is this going be funded with actual cash or is it going to be funded by taking out a loan to fund it ?

      If it’s actually going to funded with real money I can already hear Alberta complaining…

    40. Craptcha on

      Slap on an AI tax which feeds that fund too and we’ll be getting somewhere

    41. Vinnypell on

      Press conference was a joke. No details on where funding will come from after the endowment (increasing resource royalties?) , no details on what benefits are offered to investors (tax deductible? Tax free?) no details on a possible lockup period or withdrawal limitations…

      Pretty disappointed, could have been a huge announcement, just seems half thought out.

      I hope at minimum this fund will take ownership of TMX and then seek massive stakes in further projects like LNG, Port of churchil, mines, and maybe building some Korean subs 😉.

      I guess we’ll have to wait for more details, but from that press conference I’m incredibly underwhelmed.

    42. Canadian_CJ on

      Considering the natural resources we have, this is very late, and almost seems criminal it hasn’t been going before now. 

      Very interested to see how this rolls out, certainly a huge potential upside for Canada’s future.

    43. FalseZookeepergame15 on

      Based on the press conference we’ll learn more when the Finance Minister unveils the Spring Economic Update. There’s still questions I have but I’m going to wait and see as Carney said he didn’t want to get ahead of his minister. It will be interesting to find out where they found a $25 billion endowment to get the fund started. I’m interested in the mechanisms for ordinary Canadians to invest in the fund. Right now the fund is directed towards Canadian investments in major projects across the country. Once it does grow sufficiently it could look to deploy that capital globally like other funds do. You still got to start from somewhere.

    48. Hondo_1979 on

      Sovereign wealth funds are build by reinvesting surplus money into the economy, not by running an $80 billion deficit.

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