How can we attract jobs and investment to Canada when it’s so much cheaper to do businesses in the US?
The US is obviously a much bigger economy than Canada. However, that doesn’t mean we don’t compete with them in many ways.
As societies that both feature a large proportion of English speakers, relatively similar labour standards, and integrated trade and supply chains, many companies look at Canada and the US as very compatible markets, and are willing to set up shop in either country.
So, the choice for companies comes down to where they can make the most profit. When companies pick Canada, we gain jobs and investment, and our country becomes more prosperous. When they pick the US, an opportunity for Canada is lost.
In that way, Canada does compete with the US.
Unfortunately, despite his attempts to look tough with Trump, Justin Trudeau has already surrendered that competition to the US.
After Trump signed massive tax cuts into law, Canada lost our business tax advantage over the US. Trump has also removed tons of job-killing regulations, further improving the climate for businesses in his country.
What has Trudeau done in that time?
He’s forced through an unpopular carbon tax that hurts consumers and makes doing business far more expensive. He’s imposed excessive regulations that stifle investment. And he’s hit Canadian family businesses with new taxes, putting a leash on the small business sector.
The outcome of this is predictable: While investment and growth surges in the US, Canada’s economy is slowing, and investment is fleeing our country at a record pace. In fact, $100 billion in investment fled Canada in 2017, and investment into our country is falling every year Trudeau remains in power.
By contrast, the US appears headed for economic growth levels they haven’t seen in decades.
That’s why Trudeau’s attempt to cast himself as a patriotic defender of Canada vs the US is such a pathetic farce. If Trudeau was a true Canadian Patriot, he would scrap the carbon tax, cut business taxes, cut personal taxes, and eliminate excessive regulations.
That would give Canada a real chance to compete with the US for jobs and investment, bringing more wealth and prosperity into our country and making a meaningful difference in the lives of our citizens.
Instead, Trudeau has done the opposite, showing that his loyalty is only to his failed radical left ideology, rather than the Canadian People.
Photo – YouTube