Kevin O’Leary Warns “Direct Investment In Canada Is Collapsing,” Rips Carbon Tax

“It’s not going down a few per cent, it’s down 53% per cent” says O’Leary in BNN interview.

O’Leary Financial Group founder Kevin O’Leary is issuing a warning as direct investment into Canada continues to fall.

In an interview with BNN, O’Leary pointed out that the scale of the investment collapse is immense:

“Direct investment in Canada is collapsing. It’s not going down a few per cent, it’s down 53 per cent. And, that means this is not a choice for either Canadian or international investors. The big surprise is how fast it’s happening. It’s really, really accelerating and I think this should be a bi-partisan discussion with Canadian politicians.”

As noted by BNN, between July 2017 and November 2017, the outside purchases of Canadian securities averaged $18.4 billion per month. In the first month of 2018, that fell to just $5.68 billion.

O’Leary also made the point that Canada has lots of potential benefits for investors, but competitive policies are needed:

“What do we have to do to be competitive? We don’t need the lowest tax rates. There’s a lot of merits Canada has that no other country has. We need competitive tax rates and competitive policy.”

O’Leary rips carbon tax

The increasingly unpopular carbon tax is also a serious problem says O’Leary:

“Another problem for us? That carbon tax… Nobody has it. You don’t put money here when you’re getting whacked with a tax no one else has.”

Additionally, O’Leary says the investment collapse is going to start being felt by all of us:

“These matters don’t matter to the average Canadian until it affects their job. What I’m suggesting is the rate of loss of capital is accelerating. You can ignore it until you can’t ignore it.”

O’Leary’s warning should be heeded by the government, yet they have shown no willingness to listen to those who criticize their policies. That was made obvious when Trudeau and Morneau pushed a 2018 budget that focused almost exclusively on ‘gender’ and ‘diversity’ virtue-signalling, while doing nothing to address the investment collapse or the rapidly-growing gap in our competitive position with the United States.

Spencer Fernando

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Ron Voss
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Ron Voss

O’Leary explained his stance on climate change to McLean’s http://www.macleans.ca/politics/ottawa/what-you-missed-at-kevin-olearys-ama/ “I understand your concerns with the environment, but I also know business works. If we put in a place a carbon tax to reduce pollution the worst polluters will just relocate to jurisdictions with looser controls…at the end of the day, this will have the same impact on our global environment! Instead of enforcing taxes, we need to allow and encourage businesses to find environmentally friendly like this innovative solution for reforestation that I got to try firsthand! Canada is already home to a number of amazing technologies dedicated to… Read more »

J. Giles
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J. Giles

Several Auto makers have made improvements in Auto Engines starting in 2012 which is helping reduce CO2 emissions in Canada. World governments have provided incentives to help these manufacturer’s. By 2025 engine manufacturer’s will have C02 emissions reduced considerably. ADM, Cargill, General Electric & Siemens Corporations are at the heart of Amazon Forest Destruction. Over 12 % each year of world rainforests are being lost. This is an increase in Co2 production over 700 hundreds of times more than the C02 emissions from autos in Canada. Justin Trudeau why don’t you put the priorities of Canada in the right place.… Read more »

Del
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Del

This is so typical of all levels of Government, Ross. Punishment rather than reward and positive incentive. Reward industry with tax reductions rather than being punished with higher taxes and penalties. It wouldn’t be a stretch to assume that Politicians and bureaucrats that instantly throw out the big threat are borderline animal abusers. I bet they beat their puppies when they don’t “sit” instantly rather than loving them up with a treat and a good word for actually sitting. Next time they will want the reward and will sit quicker. O’Leary would make a good politician and possibly a great… Read more »

Michael Dubreuil
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Michael Dubreuil

Unfortunately as I read this article that I agree with wholeheartedly, I cannot help but wondering that it is a small group of us in Canada that are really concerned. The rest seem to me to be like lemmings, blindly following the ones at the front of the line marching with certainty to the cliff edge and then glee fully plunging over in a haste to keep up. And when the bottom approaches there’s that brief flash and realization that it might have been better if they’d spent just a little effort earlier … then lights out.

Dan
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Dan

Not surprising as Justin learned of Marxism at the feet of his father. PET decimated Western Canada’s economy for almost a decade starting in the 1980’s, most notably with the NEP>

Jen
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Jen

Spencer, please check out Bill C-75. A bill deemed to protect criminals, terrorist, trafficing and other dangerous that will hurt us.

Bradley Holdner
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Bradley Holdner

UN IPCC started with the goal of the destruction of western industrial economies, came up with the plan of getting rid of the abundant, affordable energy that drives robust economies, invented junk science to demonize CO2, one of the products of hydrocarbon combustion. They have taken to calling CO2 “carbon pollution”, however, CO2 is colorless, an odorless trace gas that is a basic requirement of life. ALL plants require it, therefore the entire food chain requires it. Exhaled human breath has about 100 times the concentration of CO2 of normal atmosphere, and the same goes for other oxygen breathing animal… Read more »

Kenster
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Kenster

How much longer are we Canadians going to sit on our proverbial butts while ‘butts’ and Trudeau destroy our economy and country. Canadians need to stand up and be counted. It’s time to demand Trudeau and his disasterous government resign! backbenchers need to stand now up for Canadians and cross the floor and join the opposition in a vote of non-confidence, while we still have some semblance of a country left!

Clive Edwards
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Clive Edwards

Canada isn’t just some Caribbean island where Moreau and every prime minister back to John A. Macdonald kept their money away from the taxman. Like Russia, it is a vast northern country where heating costs and transport costs, the two most affected items under the carbon tax, will mean average Canadians, especially older Canadians with no jobs, very little pension and what assets they were hoping to live on in retirement confiscated by the Government not just in every other crooked tax scheme that has emerged in the last fifty years, but in “penalties and interest” designed to hoover up… Read more »

Tommy Hawk
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We must always keep front and center in our thinking that this government has deemed itself as the ‘know it all’ government and neither can, nor will, positively react to warnings that they decide are simply a nuisance. “He” has, by his virtue signalling, his selfies and his temper tantrums clearly demonstrated his immaturity, thereby also clearly demonstrating he is not a fit person for the office he holds — actually, in my view, I would say ‘holds captive,’ as opposed to ‘holds sacred.’ His time (such as it has been) is over and he should, if he had any… Read more »

Kitsie
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Kitsie

O’Leary is right, you can ignore it but Canadians just would rather watch a movie than listen to the news, watch BNN, or pay attention to some anti Trudeau folks who are very good at digging up his stunts from under the radar. Only until it actually hits their wallets will they come alive and be shocked. It really is terrifying when you throw in the NWO on top of it all, the post national goal of J. Trudeau.

greg
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greg

Yes Oleary and the CEO of royal bank, CEO of Bank of Montreal and CEO of Canoe financial have all said just this week that the flight of money and capital from Canada is well underway . They join a growing list of whistle blowers pointing out what we feared would happen all along only now it is no longer just speculation. The data is piling up.

Its time to be very worried !

Tim Plane
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Tim Plane

We need another Trump running things here. This person will have to do the same thing. Start dismantling every globalist policy that Trudeau and his buddy Soros has put in place. Canadians are fed up with this man made climate scheme and that Carbon Tax Fraud.