How can our economy get back on track if the Finance Minister can’t even identify the problems we’re facing?
Competitiveness problem? What competitiveness problem? Nothing to see here folks.
That’s how Bill Morneau is handling Canada’s growing competitiveness weakness, as he denies there’s any problem at all even as billions in investment flees the country.
Speaking to BNN Bloomberg, Morneau said“I will constantly go back to business people and listen to them and say, you need to help me to understand what exactly are the prescriptions to ensure we remain competitive. But what I won’t do is accept the frame that we’re not competitive.”
Added Morneau, “We do need think about those concerns around competitiveness that will always be there, but some are heightened right now: the discussion around NAFTA, the Trans Mountain expansion, the change in tax rates in the United States, the importance of keeping our labour force trained for changing job realities.”
Reading Morneau’s comments, you’ll note that he left out the fact that investment in Canada has collapsed under the Trudeau government, as the chart below makes clear:
Funny how Morneau didn’t mention any of that.
Clearly, he has his head buried in the sand, and keeps doubling down on the ‘gender budgeting’ and virtue-signalling, rather than repealing the carbon tax, getting rid of excessive regulations, and cutting taxes for working class and middle class Canadians to spur demand and offset the impact of rising interest rates.
If Morneau can’t even admit there’s a problem, expect the investment exodus to keep on going.
Photo – Screengrab