Share this Story : National Post Copy Link Email X Reddit Pinterest LinkedIn Tumblr

Tasha Kheiriddin: Carney's new fund is for corporate welfare, not sovereign wealth

The Liberal love affair with bureaucracy continues

You can save this article by registering for free here. Or sign-in if you have an account.

Congratulations, Canada! On Monday, our nation joined an exclusive club: countries with sovereign wealth funds. Norway, Kuwait and other resource-rich nations have long tapped royalties and budget surpluses to fund investment vehicles: in this era of geopolitical uncertainty and an erratic neighbour, Prime Minister Mark Carney thinks it’s time Canada does the same.

Enjoy the latest local, national and international news.

Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.

Unlimited online access to National Post.

National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.

Daily puzzles including the New York Times Crossword.

Support local journalism.

Enjoy the latest local, national and international news.

Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.

Unlimited online access to National Post.

National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.

Daily puzzles including the New York Times Crossword.

Support local journalism.

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account.

Share your thoughts and join the conversation in the comments.

Enjoy additional articles per month.

Get email updates from your favourite authors.

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account

Share your thoughts and join the conversation in the comments

Enjoy additional articles per month

Get email updates from your favourite authors

Sign In or Create an Account

Problem is, we’re tapping debt, not revenue. When asked where the Fund’s initial $25 billion will come from, Finance Minister Francois Philippe Champagne admitted that it will be borrowed. But that’s ok, because we’ll get great rates. “I would say there’s only two countries in the G7 which have a AAA credit rating, Canada can borrow on the international market at some of the lowest rates that you can see,” Champagne crowed.

Tasha Kheiriddin: Carney's new fund is for corporate welfare, not sovereign wealth Back to........

© National Post