Trudeau Government Passes Bill Opening Canadian Airlines To More Foreign Ownership

Bill C-49 had faced significant opposition in the Senate.

The Trudeau government is expanding the percentage of Canadian airlines that foreign investors can own.

Currently, the foreign ownership limit in Canadian airlines such as Air Canada and WestJet is 25%.

That is being changed to 49%.

This is in keeping with the Trudeau government’s concerning trend of making it easier for foreign investors to buy up parts of Canadian companies, even as their carbon tax policies and expanded regulations have led to an investment exodus across the economy.

According to BNN Bloomberg, the government is also increasing the amount that an individual can own in Canadian National Railway. That limit is going from 15% to 25%:

“The only person near that limit is Bill Gates, who owns a combined stake in the railway of about 15.9 per cent between his investment company, Cascade Investment LLC, and his family’s charitable trust.”

The bill – which addressed both airlines and railways – had faced opposition in the senate, with Conservatives saying it didn’t do enough to protect shippers who faced a dispute with a railway.

The Conservatives had proposed tougher measures to help shippers including farms and mines, but the government-controlled senate rejected those changes.

In response, Conservative Senator David Tkachuk said “I say to shippers: take heart,” Prime Minister Justin Trudeau’s Liberals will lose in next year’s election “and these measures will be reintroduced,” he pledged, referring to changes rejected by elected lawmakers.”

Spencer Fernando

Photo – YouTube

7
Share Your Thoughts

avatar
7 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
7 Comment authors
Ivan HawkesJeffKKDelMiles Lunn Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
christine
Guest
christine

When is someone stop this moron from making bad decisions.

Shawn Harris
Guest
Shawn Harris

While Trudeau is appearing to open up the cap on foreign investments in our airlines and railways, he is actually selling Canda by the loonie to the highest bidder. In the end Canada won’t necessarily be better off or see our economy and citizens benefitted by way of actual improvements. In all reality this gives the false impression that Trudeau is being helpful towards business but he is actually being hypocritical , because he has for the last two and half years , done everything he could to make investors and businesses leave Canada. So this latest move by Trudeau… Read more »

Miles Lunn
Guest

I don’t like Trudeau’s fiscally reckless policies, but agree with this. Fewer restrictions means more competition which is good for consumers. Asides from the US, most countries have foreign ownership limits for airlines of 49% and you have more discount airlines available. I am fine with block foreign investments where there is a national security risk, but I don’t think they should be limited to protect Canadian companies from competition.

Del
Guest
Del

I’m kind of two opinions on this. Why is a return flight from BC to Vegas cheaper than a return from BC to Calgary? It’s cheaper for me to fly to England than Toronto. WTF?

Most Canadian flights are full so why the higher fares? Must be the Trudeau Carbon Tax.

Sure it’s nice to have more Canadian ownership, so why aren’t more Canadians buying shares in Canadian companies?

KK
Guest
KK

Now who would invest billions in Canadian Airlines & Railway?
Given trudeau’s admiration & chumminess with the basic dictatorship only one name comes to mind; Chinese state controlled entities.

Jeff
Guest
Jeff

Well when you allow these things to Happen you allow Canadian Profits on Canadian dollars to be shipped overseas, Basically raping the economy of future wealth, Personally I think the government should make a new Canadian only stock market where the stocks can only be purchased by Canadians, That way the government would get taxes on any stock payouts every year and also protects the Industry from external forces.

Ivan Hawkes
Guest
Ivan Hawkes

Of course Justin will sell off Canadian assets, originally paid off by the people of Canada. We pay full price to build an industry, then Justin will sell it off for a fraction of that original cost. The actual expense is paid for out of the taxpayers pocket.After Justin GAVE AWAY MULTIPLES OF BILLIONS of our hard earned money, he’s obviously become desperate to bring in even more monney to blow away on his ridiculous ideas. NOTHING Justin could do would surprise me at all… NOTHING.