“This sovereign wealth fund will absorb risk so the private sector can profit. The government is borrowing $25 billion for projects the private sector didn't want. They want us and our constituents to invest too. They say it will 'derisk' operations. Does the member plan to sell his assets and invest them in this fund like he could?”
What they said. What they meant.
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A bill to remove federal barriers to interprovincial trade and improve labour mobility within Canada. It also establishes a Building Canada Fund to support projects deemed to be in the national interest. During debate, members discussed the government's plan to create a sovereign wealth fund and whether it would attract private investment, but provided few details on how the fund would actually operate.
“The Liberals are promising a cat but selling us a horse. They compare this fund to Norway's, but Norway didn't go into debt for theirs. And our fund won't be independent - it will be politically influenced, with the Prime Minister deciding which projects go to the Major Projects Office. The Liberals think we're stupid. We're not.”
“You promised to end the trade war fast. But it's a year later, the war is worse, and you just borrow and spend more money. How is that a long-term plan?”
“The Prime Minister wants to control what this new fund invests in. He will pick the projects. The government is telling people to put their money in it. Does my colleague want to hand over his own money for the Prime Minister to play favorites with?”