Who ever wrote that headline has no idea what a sovereign wealth fund is lol
Fun-Astronomer5311 on
Similar to Singapore’s government investment body — Temasek Holdings. Good idea.
[deleted] on
[removed]
fishtankm29 on
How are those two things connected?
Amori_A_Splooge on
>Mr. Carney linked its creation to his plans for major infrastructure projects like pipelines, ports, new nuclear generation and a high-speed passenger rail line. They are intended to bolster the economy in the face of President Trump’s trade war with Canada.
>“For the first time in the history of Canada,” Mr. Carney said, “Canadians will not just contribute to the realization of these projects, they will benefit directly from their return.”
I don’t understand, does the Canadian government not already invest in infrastructure projects and have Canadians not already seen the benefiting of such projects?
Oh so it’s just more of the same…..
>Mr. Carney made his announcement standing between two steam locomotives on display at a science and technology museum in Ottawa. He used them to evoke the history of the Canadian Pacific Railway, the first transportation link to unite Canada, which involved both private and public finance. In the 1870s, the government provided the railway’s promoters with over 25 million Canadian dollars, 25 million acres of land and generous tax exemptions.
>“Facing at that time an economic depression and threats to our sovereignty from our southern neighbor, Canadians chose to build,” Mr. Carney said. “And the Canadian Pacific Railway became the connective tissue of a new country.”
>After a reporter reminded the prime minister that the awarding of the railway contract also led to a political scandal, Mr. Carney said that the government would do things differently today.
>“We have this same reliance on private enterprise to build and run these businesses,” he said. “But at the same time, we’ve also learned from our past.”
BagFriesAreFries on
The question is: how do countries with sovereign wealth funds avoid them becoming soft power manipulation?
CipherWeaver on
Sovereign wealth fund, yes. To distance ourselves from the USA economy…. ???
Standing_At_The_Edge on
LOL, Google Crocus Fund in Manitoba just a national version of that. They say it will be protected – yah with our taxes….
Novel-Lifeguard6491 on
The obvious question nobody in Ottawa seems to want to answer directly is where the $25 billion comes from.
Sovereign wealth funds are typically built from budget surpluses, which is how Norway’s fund became the largest in the world.
Canada currently runs a **deficit**.
Weak_Flamingo_3031 on
So there just borrowing 25 billion to invest it? They still have to pay interest on that money?
Character_Comfort440 on
carney and the rest of them are finally waking up to how much we need our own piggy bank.
chesterforbes on
I’ll be the first to say that I don’t understand shit about finances and economics but I’m down for anything that makes it possible to cut us off from the US permanently.
Huge_Wave_9169 on
This is typical liberal policies. Carney will ask Canadians to invest in the fund and once you take back your money they will tax you to hell.
Worth-Ad-2795 on
Sovereign wealth funds are meant to diversify away from the domestic economy as to not put too many eggs in one basket.
Xelvorian on
Because nothing says independence like copying Norways homework
Xelvorian on
good luck diversifying away from that 75% export reliance on us
Limnuge on
Sovereign wealth funds normally need wealth to work and Canada has none
SydBarrett1989 on
Not a Trump supporter, but fuck off Canada
Perfect_Opposite2113 on
I’ve heard this talked about all day on local radio here in Edmonton Alberta and not once did they say it was to distance the Canadian economy from the U.S. He doesn’t say it in the video clip or any of the sound bytes I’ve heard today. While I’m sure it plays a part this mostly is about Canadians investing in making Canada stronger.
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[removed]
Who ever wrote that headline has no idea what a sovereign wealth fund is lol
Similar to Singapore’s government investment body — Temasek Holdings. Good idea.
[removed]
How are those two things connected?
>Mr. Carney linked its creation to his plans for major infrastructure projects like pipelines, ports, new nuclear generation and a high-speed passenger rail line. They are intended to bolster the economy in the face of President Trump’s trade war with Canada.
>“For the first time in the history of Canada,” Mr. Carney said, “Canadians will not just contribute to the realization of these projects, they will benefit directly from their return.”
I don’t understand, does the Canadian government not already invest in infrastructure projects and have Canadians not already seen the benefiting of such projects?
Oh so it’s just more of the same…..
>Mr. Carney made his announcement standing between two steam locomotives on display at a science and technology museum in Ottawa. He used them to evoke the history of the Canadian Pacific Railway, the first transportation link to unite Canada, which involved both private and public finance. In the 1870s, the government provided the railway’s promoters with over 25 million Canadian dollars, 25 million acres of land and generous tax exemptions.
>“Facing at that time an economic depression and threats to our sovereignty from our southern neighbor, Canadians chose to build,” Mr. Carney said. “And the Canadian Pacific Railway became the connective tissue of a new country.”
>After a reporter reminded the prime minister that the awarding of the railway contract also led to a political scandal, Mr. Carney said that the government would do things differently today.
>“We have this same reliance on private enterprise to build and run these businesses,” he said. “But at the same time, we’ve also learned from our past.”
The question is: how do countries with sovereign wealth funds avoid them becoming soft power manipulation?
Sovereign wealth fund, yes. To distance ourselves from the USA economy…. ???
LOL, Google Crocus Fund in Manitoba just a national version of that. They say it will be protected – yah with our taxes….
The obvious question nobody in Ottawa seems to want to answer directly is where the $25 billion comes from.
Sovereign wealth funds are typically built from budget surpluses, which is how Norway’s fund became the largest in the world.
Canada currently runs a **deficit**.
So there just borrowing 25 billion to invest it? They still have to pay interest on that money?
carney and the rest of them are finally waking up to how much we need our own piggy bank.
I’ll be the first to say that I don’t understand shit about finances and economics but I’m down for anything that makes it possible to cut us off from the US permanently.
This is typical liberal policies. Carney will ask Canadians to invest in the fund and once you take back your money they will tax you to hell.
Sovereign wealth funds are meant to diversify away from the domestic economy as to not put too many eggs in one basket.
Because nothing says independence like copying Norways homework
good luck diversifying away from that 75% export reliance on us
Sovereign wealth funds normally need wealth to work and Canada has none
Not a Trump supporter, but fuck off Canada
I’ve heard this talked about all day on local radio here in Edmonton Alberta and not once did they say it was to distance the Canadian economy from the U.S. He doesn’t say it in the video clip or any of the sound bytes I’ve heard today. While I’m sure it plays a part this mostly is about Canadians investing in making Canada stronger.