Discussion · Government Orders
Kody Blois Liberal
“I want Canada to have a national wealth fund. It would invest public money to own shares in big Canadian projects. This would make money for taxpayers and help bring in private business funding.”
“Mr. Speaker, I will try to help my hon. colleague here. The principles are exactly the same. Whether it is taking royalty revenue and putting it into a sovereign wealth fund, taking a national surplus and choosing to put it into a national fund or debt financing being put into a national fund, the entire objective here is taking equity positions in major national projects. In Norway’s case, it is around the world. In our view, we want to focus on Canada. The idea here is that the fund would be used to create equity positions in major national projects or resource projects in this country, such that there will be a long-term benefit in the public interest to Canadian taxpayers and to Canadian citizens. Canadian individuals can invest in the sovereign wealth fund and get a return, and this money would be used to help catalyze private sector funding. The position is very similar. It is taking equity positions to create long-term public interest. That is about as simple as I can make it.”
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Mr. Speaker, I will try to help my hon. colleague here. The principles are exactly the same. Whether it is taking royalty revenue and putting it into a sovereign wealth fund, taking a national surplus and choosing to put it into a national fund or debt financing being put into a national fund, the entire objective here is taking equity positions in major national projects. In Norway’s case, it is around the world. In our view, we want to focus on Canada. The idea here is that the fund would be used to create equity positions in major national projects or resource projects in this country, such that there will be a long-term benefit in the public interest to Canadian taxpayers and to Canadian citizens. Canadian individuals can invest in the sovereign wealth fund and get a return, and this money would be used to help catalyze private sector funding. The position is very similar. It is taking equity positions to create long-term public interest. That is about as simple as I can make it.