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From: "MinFinance / FinanceMin (FIN)"
Date: Tue, 26 Jul 2016 10:48:39 +0000
Subject: RE: Re Federal Court of Canada File no T-1557-15 Wolfgang Schäuble or his people really should talk to me ASAP about Philip Hammond, Bill.Morneau and Mark Carney
To: David Amos
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http://www.cbc.ca/news/business/trudeau-canada-investment-summit-foreign-morneau-1.3849202
343 Comments
McKenzie Liam (McLiberal)
I hope that the Liberal government is paying attention to the message that is coming from Brexit and the US election.
If the current government continues with its globalist neoliberal policies I fear that in 4 years we will end of with an election that would like the one we just witnessed in the US. It is nice to help others, it is nice to be open, but the responsibility of the Canadian government is to Canadian voters. It is immensely important for the Liberal government to demonstrate that it is policies are designed with "Canadians first" and by Canadian I mean average Canadian not rich Canadians and corporations.
If the current government continues with its globalist neoliberal policies I fear that in 4 years we will end of with an election that would like the one we just witnessed in the US. It is nice to help others, it is nice to be open, but the responsibility of the Canadian government is to Canadian voters. It is immensely important for the Liberal government to demonstrate that it is policies are designed with "Canadians first" and by Canadian I mean average Canadian not rich Canadians and corporations.
John James
@Jim S Powers Original Bay
investors saw a quick return on their investments. Will todays
investors see the same thing since the taxpayer provides the return and
that pool is running dry.
David Raymond Amos
@McKenzie Liam (McLiberal)
Its always about the money. Everybody knows the Golden Rule. truly is he
with the gold makes the rules. Nesy Pas Prime Minister Trudeau 'The
Younger"? If I perchance am wrong then I must ask why are you meeting
these dudes today now that Trump got elected?
With regards to Trump showing his true colours need I say only one name of an evil Beancounter and the name of one very very company? Research Steve Banon and Goldman Sachs and listen to President elect Trump changing his tune on a daily basis.
With regards to Trump showing his true colours need I say only one name of an evil Beancounter and the name of one very very company? Research Steve Banon and Goldman Sachs and listen to President elect Trump changing his tune on a daily basis.
Trudeau set to woo big-money foreign, domestic investors
Creation of an infrastructure bank is a key part of the pitch to institutional investors, pension funds
The Canadian Press Posted: Nov 13, 2016 4:17 PM ET
Prime Minister Justin Trudeau and Minister of Finance Bill
Morneau will take an important step Monday toward the ambitious goal of
turning Canada into a magnet for foreign investment when they meet with
some of the world's most powerful institutional investors with
trillions of dollars at their disposal. (Sean Kilpatrick/Canadian Press)
Prime Minister Justin Trudeau will take an important step
Monday toward his ambitious goal of turning Canada into a magnet for
foreign investment when he meets with some of the world's most powerful
institutional investors with trillions of dollars at their disposal.
Trudeau is hoping to persuade some two dozen representatives of large international pools of capital — including central banks, sovereign wealth funds, insurers and pension funds whose combined assets are worth a staggering $21 trillion (Cdn) — that Canada offers a stable economic and political environment in which to safely invest.
He will be accompanied by Finance Minister Bill Morneau and Infrastructure Minister Amarjeet Sohi. The trio are also set to make their pitch to about a dozen Canadian investors — insurance companies and big pension funds like the Canada Pension Plan Investment Board — in the morning, before meeting with the international investors in the afternoon.
Attracting billions in private-sector capital for "transformative" infrastructure projects is key to the Liberal government's long-term strategy to boost Canada's sluggish economic growth.
Monday's investors' summit comes just two weeks after Morneau announced plans to launch a new infrastructure bank next year. The government has pledged to pump $35 billion into the bank over the coming decade, in hopes that every dollar of federal cash will leverage $4-5 in private funding.
The creation of the bank is a key part of the pitch to investors,
offering them sophisticated and varied investment tools that incorporate
government financing.
"There is an enormous amount of interest in making infrastructure investments," Morneau said in a recent interview.
"There is a particular interest in making them in a country like ours with our stable economy, with our stable political system. So I think that there will be more than enough partners for us to find opportunities that make sense for us and for them."
In addition to the infrastructure bank, the government also intends to create a new Invest in Canada Hub for attracting foreign investment; and it plans to relax some restrictions on foreign investment.
The summit is being hosted by the federal government but it has engaged BlackRock Inc., the world's largest asset manager, to organize the event. BlackRock's legendary founder, Laurence Fink, is to be among the participants in the summit.
It's likely no coincidence that Trudeau met with Fink in January at
the World Economic Forum in Davos, Switzerland, and again in New York
City in March. During a photo op at the latter meeting, Fink was heard
telling Trudeau that there was "a lot of confusion in this country in
investing" — an apparent reference to uncertainty induced by the deeply
divisive U.S. presidential election campaign — which creates "probably
even greater opportunities in the stable environment of Canada."
Americans' stunning choice last week of the bombastic, protectionist, unpredictable Donald Trump may only magnify the appeal of Canada's comparative stability. One insider allows that "it may shift the discussion a little" at the investors' summit.
However, Canada's reputation as a stable place to invest has been questioned in the past because of foreign investment rules that seemed to change with every new government. The rules are now under review again, Morneau said earlier this month.
In advance of the summit, BlackRock issued a statement in praise of investing in Canada.
"With a sound financial system, a vibrant and innovative economy and a proactive approach to long-term fiscal policy, we view Canada as a compelling investment opportunity," the company said.
BlackRock has some deep connections to the Trudeau government. In particular, its new senior managing director is Mark Wiseman, former head of the CPP Investment Board and a member of Morneau's advisory council on economic growth. The growth council is one of the biggest champions of the infrastructure bank.
Michael Sabia, president of Quebec's massive pension fund manager,
the Caisse de depot et placement du Quebec, is also a member of the
growth council and a strong advocate for private investment in public
infrastructure. He has led the way in Canada, with a proposal for the
Caisse to pump $3 billion into an electric rail network connecting
Montreal to its suburbs, with Ottawa and the province kicking in another
$2.5 billion.
It's a model Ottawa aims to mimic on a grand scale.
The Trudeau government has been working on the infrastructure bank for the past year but the final details are still to be hammered out, for inclusion in next year's budget.
Of the promised $35-billion for the bank, the government will put $15 billion in cash towards projects that may not provide a full return to federal coffers. Another $20 billion will be available in loans or equity stakes in projects.
Government insiders say the expectation is that the bank will focus
initially on funding one class of projects, like hospitals or bridges,
and then expand its scope to other projects over time. It's a similar
path to the one followed by the Ontario government in setting up its own
arm's-length infrastructure corporation.
No specific projects have yet been identified for funding from the bank but Trudeau, Morneau and Sohi are expected to tell potential investors Monday that toll bridges, energy grids and water systems could all be attractive investments for fund managers looking for predictable, long-term returns.
But finding Canadian projects big enough for the likes of BlackRock and its clients will be a challenge, officials say. That's partly why the Monday morning meeting with the relatively smaller Canada-based funds is important too.
"Canada is open for business and our economic agenda remains focused on growing Canada's middle class and creating an economy that works for everyone," said Cameron Ahmad, spokesman for the Prime Minister's Office.
"We are delighted to host the BlackRock summit in Toronto and we look forward to meeting with investors to discuss what our country has to offer."
The federal NDP, on the other hand, accuses the Liberals of privatizing government infrastructure on the sly, leading to stiff tolls and user fees in order to give investors a steady return. The Conservatives say the government has lost control of spending, with no clear idea about how the infrastructure bank will work.
Trudeau is hoping to persuade some two dozen representatives of large international pools of capital — including central banks, sovereign wealth funds, insurers and pension funds whose combined assets are worth a staggering $21 trillion (Cdn) — that Canada offers a stable economic and political environment in which to safely invest.
- Fiscal update boosts Liberal infrastructure plans but offers no path back to balance
- Highlights of Bill Morneau's fall economic statement
He will be accompanied by Finance Minister Bill Morneau and Infrastructure Minister Amarjeet Sohi. The trio are also set to make their pitch to about a dozen Canadian investors — insurance companies and big pension funds like the Canada Pension Plan Investment Board — in the morning, before meeting with the international investors in the afternoon.
Attracting billions in private-sector capital for "transformative" infrastructure projects is key to the Liberal government's long-term strategy to boost Canada's sluggish economic growth.
Monday's investors' summit comes just two weeks after Morneau announced plans to launch a new infrastructure bank next year. The government has pledged to pump $35 billion into the bank over the coming decade, in hopes that every dollar of federal cash will leverage $4-5 in private funding.
Infrastructure Minister Amarjeet Sohi will
join Trudeau and Morneau make their pitch to about a dozen Canadian
investors Monday morning before meeting with the international investors
in the afternoon. (Sean Kilpatrick/Canadian Press)
"There is an enormous amount of interest in making infrastructure investments," Morneau said in a recent interview.
"There is a particular interest in making them in a country like ours with our stable economy, with our stable political system. So I think that there will be more than enough partners for us to find opportunities that make sense for us and for them."
BlackRock organizes summit
In addition to the infrastructure bank, the government also intends to create a new Invest in Canada Hub for attracting foreign investment; and it plans to relax some restrictions on foreign investment.
The summit is being hosted by the federal government but it has engaged BlackRock Inc., the world's largest asset manager, to organize the event. BlackRock's legendary founder, Laurence Fink, is to be among the participants in the summit.
Trudeau met with BlackRock Chairman and CEO
Laurence Fink in New York City in March. Fink was heard telling Trudeau
that there was 'a lot of confusion in this country in investing' — an
apparent reference to uncertainty induced by the deeply divisive U.S.
presidential election campaign. (Mark Lennihan/Associated Press)
Americans' stunning choice last week of the bombastic, protectionist, unpredictable Donald Trump may only magnify the appeal of Canada's comparative stability. One insider allows that "it may shift the discussion a little" at the investors' summit.
Canada 'a compelling investment opportunity'
However, Canada's reputation as a stable place to invest has been questioned in the past because of foreign investment rules that seemed to change with every new government. The rules are now under review again, Morneau said earlier this month.
In advance of the summit, BlackRock issued a statement in praise of investing in Canada.
"With a sound financial system, a vibrant and innovative economy and a proactive approach to long-term fiscal policy, we view Canada as a compelling investment opportunity," the company said.
BlackRock has some deep connections to the Trudeau government. In particular, its new senior managing director is Mark Wiseman, former head of the CPP Investment Board and a member of Morneau's advisory council on economic growth. The growth council is one of the biggest champions of the infrastructure bank.
Caisse de Depot chief executive Michael Sabia
is part of Morneau's advisory council on economic growth. Sabia
proposed to pump $3 billion into an electric rail network connecting
Montreal to its suburbs, with Ottawa and the province kicking in another
$2.5 billion. (Ryan Remiorz/Canadian Press)
It's a model Ottawa aims to mimic on a grand scale.
The Trudeau government has been working on the infrastructure bank for the past year but the final details are still to be hammered out, for inclusion in next year's budget.
Of the promised $35-billion for the bank, the government will put $15 billion in cash towards projects that may not provide a full return to federal coffers. Another $20 billion will be available in loans or equity stakes in projects.
Trudeau, Morneau and Sohi are expected to
tell potential investors Monday that toll bridges, energy grids and
water systems could all be attractive investments for fund managers
looking for predictable, long-term returns. (Carlos Osorio/Associated
Press)
No specific projects have yet been identified for funding from the bank but Trudeau, Morneau and Sohi are expected to tell potential investors Monday that toll bridges, energy grids and water systems could all be attractive investments for fund managers looking for predictable, long-term returns.
'Canada is open for business'
But finding Canadian projects big enough for the likes of BlackRock and its clients will be a challenge, officials say. That's partly why the Monday morning meeting with the relatively smaller Canada-based funds is important too.
"Canada is open for business and our economic agenda remains focused on growing Canada's middle class and creating an economy that works for everyone," said Cameron Ahmad, spokesman for the Prime Minister's Office.
"We are delighted to host the BlackRock summit in Toronto and we look forward to meeting with investors to discuss what our country has to offer."
The federal NDP, on the other hand, accuses the Liberals of privatizing government infrastructure on the sly, leading to stiff tolls and user fees in order to give investors a steady return. The Conservatives say the government has lost control of spending, with no clear idea about how the infrastructure bank will work.
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