TRUDEAU ECONOMY: Excessive Regulation & High-Taxes Cause Suncor To Cut Investment In Canada

The Trudeau government is destroying our ability to compete, and leading Canada down a path of more debt and more poverty.

The gigantic job losses in the latest jobs report aren’t the only recent bad news for Canada’s economy under Justin Trudeau.

Suncor – one of Canada’s largest energy companies – is planning to cut investment in Canada.

As reported by the Financial Post, “Suncor Energy Inc. president and CEO Steve Williams said during an earnings call Thursday that his company would pare back spending in future years partly because Canada is not as competitive as other countries. “We’re having to look at Canada quite hard. The cumulative impact of regulation and higher taxation than other jurisdictions is making Canada a more difficult jurisdiction to allocate capital in,” Williams said.”

In what seems to be a reference to the big tax cuts in the US, “Williams told financial analysts Thursday that Suncor is actively discussing Canada’s lack of competitiveness with various levels of government here because “other jurisdictions are doing much more to attract business, so Canada needs to do much more to up its game.”’

More evidence that Canada’s competitive position is deteriorating

As many have been saying for some time, Canada is moving in exactly the wrong economic direction under Trudeau. As other countries – particularly our neighbours to the south – make themselves more competitive, the Trudeau government is hitting Canadians with a carbon tax, and increasing regulatory burdens.

This is having the predictable effect of causing companies to look elsewhere when they decide where to invest. Tens of billions have already been lost as projects are stalled and cancelled across the country – especially in the energy sector.

As those losses mount, the price is paid by the Canadians not hired for jobs, the money not earned, and the revenue that individuals, families, and communities are deprived of.

Economic freedom in our country is in decline, and more money and power is being centralized in the federal government. The carbon tax is crippling our ability to compete, taking money out of the pockets of Canadians, and doing absolutely nothing for the environment.

And yet, despite the mounting evidence that Trudeau’s economic policies are failing miserably, the government continues doubling down, pushing their ideological agenda ahead of what’s good for the country.

As long as that keeps happening, more and more companies will be following Suncor’s lead and cutting their investments in our nation.

Meanwhile, more of our companies are being taken by foreign countries, so in addition to lost investment, we are losing national sovereignty.

As a result, we are being led down the path of more debt, more poverty, and more national weakness.

Spencer Fernando

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don morris
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don morris

Perhaps Justin is deliberately running our economy into the ground so as to sell our resources to China on the cheap at a later date.

Wendy Lush
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Wendy Lush

Possibly, but more likely he hasn’t a clue what’s going on in the economy. He lives in a dream world.

Catanddog
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Catanddog

My belief also. Trudeau is our Obama but with a more compliant populus willing to self suicide in smug willingness. Why aren’t Canadians angry? I am. Mostly, I’m so disappointed in the Conservative Party.

Dave Bainard
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Dave Bainard

Perhaps Suncor is looking towards Utah and their oilsands. Next to nothing for red tape there compared to Canada.

Nancy
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Nancy

We could see this coming it is scary. No freedom left at all soon. We need a government for Canada, not world globalists. I really hope we will be able to get rid of these dictators. but maybe it is too late.

Christine
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Christine

Trudeau is working against his own policies. As more people are unemployed and unable to find jobs because the work opportunities are trememdously reduced, CANADA WILL HAVE TO CUT INTAKE OF IMMIGRATION TO ZERO. The burden from social welfare is exceeding the capacity to support it at this moment in time. Plus, the aging population has prepaid for services and pensions in the last 40 to 50 years and those resources are being diverted by Trudeau government to other means. Veterans are currently being squeezed financially by Trudeau who is sending financial resources left and right to other countries. Including… Read more »

Catanddog
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Catanddog

Are you kidding? Trudeau needs a permanent underclass of dependent migrants/victim groups/dependents. Intake of immigration will increase, not decrease. The rest of our economic downfall is just what he wants also for the same reason………get us poor, sell us to what ever country wants us. It’s always been his goal.

chris malmstrom
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Been saying it for years…Trudoh’s agenda is to make Canada into a socialist country, there’ll be him and his elite membership of friends as well as the wealthy convicted terrorists he makes rich with taxpayer dollars, looking down on the true citizens of Canada living in shacks and row houses, working our asses off so the government can flourish and spend offshore.

Annie
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Annie

The future looks gloomy for Canada if we stay on this road and this leader of the pack out front giving monies away like candy to others when we have severe housing shortages, aged infrastructure to be updated and Companies seeking investment elsewhere. While he claims to be a human rights advocate he still deals with those countries that contradict our code of human rights. What will happen when their ownership increases and they attempt to bring their work practices here. I don’t think there will be an outcry from him on our behalf. Canada has a heavy history of… Read more »

WALLACE GALE
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That fkn nut will drive many businesse’s out of Canada ,

Wendy Lush
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Wendy Lush

Possibly, but more likely he hasn’t a clue what’s going on in the economy. He lives in a dream world.

Catanddog
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Catanddog

You are wrong. He may be dumb but he isn’t stupid. And remember he is being tutored by Soros.

Del
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Del

Why do the Liberals, ALL Liberals, hate Canada and Canadians so strongly?