TRUDEAU ECONOMY: Investment Capital Is Leaving Our Country “In Real Time” Says RBC CEO

Royal Bank of Canada CEO Dave McKay warns that the flow of investment capital to the US from Canada must be stopped.

The damage from Justin Trudeau’s economic policies continue to spread.

Now, the CEO of Royal Bank of Canada Dave McKay is warning about investment capital heading out of Canada towards the United States.

According to a recent report, “McKay told The Canadian Press that a “significant” investment exodus to the U.S. is already underway, especially in the energy and clean-technology sectors. The flight of capital, McKay added, will likely be followed by a loss of talent, which means the next generation of engineers, problem solvers and intellectual property could be created not north of the border, but south of it instead.”

A key area of concern is Canada’s weakening competitive position compared to the United States, especially after big tax cuts in the US, which the government is doing nothing about – with serious consequences:

“We would certainly encourage the federal government to look at these issues because, in real time, we’re seeing capital flow out of the country,” said McKay.

In carefully corporate way, McKay subtly pointed out that while the government keeps going around the world saying how great a place Canada is for investment, “if we don’t keep the capital here, we can’t keep the people here.” (AKA all the virtue-signalling on ‘diversity is strength’ is meaningless when people won’t do business in our country.)

Budget 2018 was a total failure

The 2018 budget was a chance for the Trudeau government to adjust to the new competitive environment. They could have eliminated the carbon tax, cut regulations, and reduced taxes for middle-class and low-income Canadians.

Instead, the budget talked a bunch about gender and diversity – talk that has already been forgotten as investment keeps heading out the door. And yet, despite the rising number of warnings about our nations declining economic situation, the Trudeau government keeps doubling down on their horrendous economic policies, and our whole country is going to pay the price.

Spencer Fernando

Photo – YouTube

*****
SpencerFernando.com will never have a paywall, and I will never charge for content.
If you would like to voluntarily support my journalism, there are two ways you can contribute:
Monthly contribution through Patreon
 Donation through PayPal:



7
Share Your Thoughts

avatar
7 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
7 Comment authors
Tommy HawkMoe S.CanucklenBruceJettie Olson Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
doug
Guest
doug

Most liberals are too young & did not live through trudo sr, they only get told how good he was but do no actual research on him. Instead they just swallow everything the left liberal loving media tells them. Liberals are brainwashed into thinking the way they do. It starts in school & they get indoctrinated into marxism & the socialist agenda.

Wendy Lush
Guest
Wendy Lush

News items from last year:

“Our tax system is now so unfair it will push productive people to leave Canada”
http://business.financialpost.com/opinion/stephen-jarislowsky-our-tax-system-is-now-so-unfair-it-will-push-productive-people-to-leave-canada

“‘Trump will steal our best’: Schulich blasts Morneau on tax reform”
http://www.bnn.ca/billionaire-seymour-schulich-calls-morneau-s-tax-plan-political-suicide-1.869864

Jettie Olson
Guest
Jettie Olson

And you can’t tax what’s not there, now can you, justie-poo? Disasters keep rolling in, and we the People will be saddled with the fall-out of his errors. Perhaps the GG can start taking away the ministerial posts of the dodos that are so inept at their jobs, except when it comes to spending.

Bruce
Guest
Bruce

Mark these words. Trudeau will be on TV within the next 12 months speaking to Canadians about “drastic economic measures” his government must take to prop up the Canadian economy. He will lie to his pathetic base about how, despite his best efforts to turn the economy around from the destructive Harper years, it just has not been enough. He will attempt to rally his base to a series of measures that will drain our personal savings and place us under a form of government control that resembles a socialist regime. He may or may not seek a new mandate… Read more »

Canucklen
Guest
Canucklen

“Liberalism is a mental disorder …”

Moe S.
Guest
Moe S.

Pierre Trudeau brought in cultural Marxism and tried to change Canada into a social experiment but it didn’t work economically. Justin Trudeau echo’s his father’s ideas, determined to succeed where Pierre failed. Thus we have a cultural Marxist Trudeau too busy dividing Canada into identity groups based on race, gender, and sexual orientation. Meanwhile, he and Mr. Bay Street Morneau, appear not to understand or care as the tail lights of Canadian corporations can be seen heading down the road to the U.S. border, their voices can be heard in the wind, “it’s the economy stupid.”

Tommy Hawk
Guest

Well, the time has arrived to cut to the chase.

The one and only goal of the Liberals, led(?) by ‘him,’ is to destroy Canada, Canada’s heritage, Canada’s accomplishments, Canada’s military, Canada’s and Canada’s future for our offspring and their offspring, and they will not stop until this is accomplished and we become a third-world country.

They MUST be stopped — or we better find some honest responses for our offspring and their offspring when they ask that most important question: “What did you do to stop this from happening?”