Pierre Poilievre: said “Some of the countries around the world, you will note, have sovereign wealth funds. You need to have wealth for those funds. Norway, Singapore, and Saudi Arabia run big budget surpluses, which they accumulate and then put into their sovereign wealth funds. Carney has no surplus and therefore no wealth to put in such a fund. He’s talking about a sovereign debt fund. He wants to put another $25 billion on the national credit card to gamble on a liberal slush fund that will enrich liberal insiders at the expense of hardworking Canadians.
How many corporate welfare agencies do the Trudeau-Carney liberals need to create before they learn that it doesn’t work? They have the Canada Infrastructure Fund. Remember, the Infrastructure Bank. Remember that was going to invest in all these projects? What happened with that? There’s a new defense industry bank. There’s the Canada Growth Fund and countless other departmental agencies that liberals have created and grown over the last decade to give us the worst investment and growth in the G7. And here we are. It’s deja vu all over again. Borrowing yet another $25 billion out of the economy to subsidize projects that the government still cannot figure out how to approve will only cost hardworking Canadians. Multinational corporations get the profit. Taxpayers will get the loss. Let’s ask some basic questions. Who will get the money? Small and medium-sized businesses? Of course not. It will be the billionaires and bankers that will go to Mark Carney’s elite summit coming up in September.
They will again get rich making everyone else poorer. That guarantees small businesses and entrepreneurs get shut out and politically powerful corporations get carve outs, handouts, and bailouts. And here’s another question. If a project has a business case, why would the government need to fund it? If it doesn’t have a business case, why would the government want to fund it? And why can’t projects get funding now? Is it because investment doesn’t exist? Of course not. There’s a trillion dollars of investment from Canada now invested outside of Canada, according to Royal Bank. In fact, Statistics Canada reported in Q3 of last year that trusteed Canadian pension funds held $1.33 trillion in foreign assets. That is a majority of Canadian pension funds are now invested outside of Canada. There are more Canadians opening businesses out of Canada than in Canada. The investment exists. It comes from our country. It just can’t get a return in our country. Putting another $25 billion on the national credit card to pad a liberal slush fund will not change that.”
Source: Shane Weston
Press Secretary – Ethnic & Regional Media
Office of the Leader of the Official Opposition
