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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13 comments Add yours
  1. 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.

    1. 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.

  2. 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.

  3. 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 a $2.1 billion of CPP funds to Mumbai in India for affordable housing. Wow! What about those immigrants who came in the last 2 years? Canada does not need affordable housing for these people? Those CPP funds going to Mumbai, we will never see again. Trudeau’s master is not THE PEOPLE OF CANADA, it is the UN with its agenda 21 or 2030 which is amongst other things to redistribute wealth worldwide. However Trudeau is using BORROWED WEALTH burdening Canadians for more than 50 years to come.

    1. 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.

  4. 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.

    1. 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 arms sales and almost helicopters that support
      war upon others. (for the sake of jobs…. not ethics about human rights).
      When you have to give up your core beliefs in order to join his gang , meant
      party, that is asking to much of an individual in my opinion. That’s not support
      that is CONTROL …..much like in some other countries of note.
      Well folks, start building your evidence and monitor these bad actors with
      the hope that they can be taken down before Canada follows through with
      Trudeau/Soros agenda to make us slaves under NWO.

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