Canada’s government and banks are stuck on oil—and this is a problem

Economic success will only succeed if we become an innovation nation, not a petrostate. We have great talent in Canada and many ambitious entrepreneurs with world-class ideas. That is where we should be putting our economic muscle. And this is Carney’s test.

Prime Minister Mark Carney, left, and Finance Minister François-Philippe Champagne at a press conference in the West Block on June 19, 2025. The challenge for the Carney government is to get Canada's banks and other financial institutions to think beyond pipelines to new sources of economic growth that are based on ideas, writes David Crane.The Hill Times photograph by Andrew Meade

Opinion

BY DAVID CRANE

June 27, 2025

We have many promising new tech companies that can help build a better future for Canada. Indeed, since economic growth comes from technological progress, they are our best hope for future jobs and prosperity. The founders of these firms are telling us they want to build the...

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