Mark Carney looks for investment the Liberal way
Prime Minister Mark Carney announced the creation of the Canada Strong Fund, a national sovereign wealth fund aimed at boosting investment in key sectors like energy, infrastructure, and technology. Unlike traditional sovereign wealth funds, it will be financed through borrowing rather than resource revenues, reflecting Carney's interventionist economic approach. The move contrasts with Conservative leader Pierre Poilievre's preference for tax cuts and deregulation to stimulate investment.
- ▪Mark Carney announced the Canada Strong Fund to invest in major industrial projects across Canada.
- ▪The fund will be financed through government borrowing, not resource revenues, distinguishing it from typical sovereign wealth funds.
- ▪Carney argues public investment is necessary to leverage private capital, especially during a trade war.
- ▪Conservative leader Pierre Poilievre criticized the fund, questioning the government's role in funding projects with viable business cases.
- ▪Saskatchewan Premier Scott Moe, a conservative, expressed support for the fund shortly after its announcement.
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Open this photo in gallery:Prime Minister Mark Carney speaks during an announcement on the Canada Strong Fund in Ottawa on Monday.Justin Tang/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountFor all the talk that Prime Minister Mark Carney is a small-c conservative his announcement that Canada will create a sovereign wealth fund was a confirmation of his capital-L Liberal predilections.The form of the fund might be a little surprising, given that the sovereign wealth funds of resource-rich nations are usually seeded with windfall earnings socked away for the future, while Canada will have to borrow more to invest more.But Mr.
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