This is not your father’s Liberal Party

The Liberal Party of Canada put out a press release yesterday entitled:

Canada is Not for Sale: Protecting Our Economic Sovereignty

In which it served up the standard claptrap about the perils of foreign direct investment (apparently the Conservatives are proposing changes that might encourage more foreign companies to invest here).

What’s amazing to me is that this is the Liberal Party of Canada. You know: Trade Team Canada. Remember the PM and Premiers flying around the world to attract investmen to Canada?

Now they are fighting against the evils of foreign investment?

Funny stuff. Outward investment from Canada is more than double inward investment from the world over the most recently reported four year period (OECD data).

Apparently not only have the federal Liberals become a one issue party (Green) they must have fired anybody that understands economic development. During the 1990s (ahem, under the Liberals) inward investment was higher than outward investment. And that fuelled unprecedented economic expansion. Maybe Stephane Dion wasn’t around then…

You’ve come a long way baby.

This ain’t your father’s Liberal Party.

Interestingly, this morning I can’t find this press release anywhere on the Libs web site. Hmmmm.

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0 Responses to This is not your father’s Liberal Party

  1. Anonymous says:

    I beg to differ, the liberals have always been able to SAY one thing and do another. Hell they were saying that the feds were making massive new investments all during the nineties when they were gutting federal spending back to 1950’s levels.

    The liberals oversaw the largest foreign takeover of canadian companies in history, even larger than during the Reciprocity Treaty (at least what we have data on).

    Of course you cant’ blame Dion for that, just like statements that somehow HE failed as Minister of the Environment. Its been decades since virtually every MP and researcher first stated that policy is effectively formed within the Prime Minister’s Office.

    But the liberals do have an interesting point. For example, I hate to use the name simply because so many people focus on names instead of what was said, but while clicking through channels the other night I saw a CPAC panel with Elizabeth May. She didn’t SAY anything, of course the intent was clear when she asked-why on earth would the tories push through the tax on income trusts when even their own hard core supporters despised them for it?

    People can look up her references, but it wasn’t a ‘need the tax’ issue, and it wasn’t a ‘this is an unfair tax issue’, otherwise they wouldn’t have promised not to tax it in the first place.

    However, she claims that what economists said would happen is that it would make large telecom and energy companies susceptible to foreign takeovers. Currently that is happening with large oil producers and BC Telecom. Whether that is true that they would have avoided takeover had they not had the income trust taxed is something that needs more study.

    But it certainly EXPLAINS a lot. That was a question most people were asking, why would a new government go out of its way to piss off its own supporters like that?

    It would also make sense, since in Canada people are starting to really wake up and get pissed off about what is going on in one of the richest countries in the world. IF those companies are owned by US corporations, then ANY change in legislation that affects them can see them sue the canadian government for any loss of income.

    To bring that home a similar thing is going on in New Brunswick. Yesterday in the Telegraph Journal the newspaper crowed about how happy Saint John industry is (meaning how happy Irving is) because unlike the tories the liberals have seen the light and are putting highway infrastructure on the front burner.

    The tories were more regional, they put the TCH on the front burner, but now that that is almost done, the proponents of Atlantica want to see better and more efficient roads, in particular to the refinery, which is exactly what is happening.

    Anybody that doesn’t think New Brunswick has other issues that are a little more important than the state of the roads really should post a reason why for that. Highways are important, but not THAT important. How much industry is sitting around thinking “I’d invest more in NB but geez they’ve got no roads”

    And of course keep in mind that IRVING is a ‘foreign investor’.

  2. BSF says:

    Not your older brother’s Liberal party, perhaps, but it does sound like your father’s. Remember the thinking behind the establishment of the Foreign Investment Review Agency in the Trudeau era.