Canada urgently needs more capital here at home

If we could get an extra five percentage points of the Canadian Pension Plan and other institutional pools of capital currently flowing into foreign markets diverted to the future Canadian economy, that could mean billions more dollars each year for investment in domestic enterprise, jobs, and high-value exports.

Our pension funds, mutual funds, insurance companies, and other managers of Canadian savings send billions of dollars every year to the United States, the Asia-Pacific, and Europe to invest in their growth companies while young Canadian firms find themselves starved of funds, writes David Crane.Image courtesy of Pixabay

Opinion

BY DAVID CRANE

November 6, 2023

TORONTO—Canada does not suffer from a lack of savings. But every year a significant share of our reserves end up supporting growth in other countries at a time when we urgently need more capital here at home to create our own economy of the future. This needs to change.

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