SoVote

Decentralized Democracy

Senate Volume 153, Issue 91

44th Parl. 1st Sess.
December 13, 2022 02:00PM
  • Dec/13/22 2:00:00 p.m.

Senator Loffreda: Would you not agree that something as important as the Canada growth fund, which in the technical backgrounder you did read, and I’m sure you read it three times, as I did, so I’m not questioning that — and good job on your speech, by the way — but wouldn’t you agree that the right way to go about it is to start a new Crown corporation and not include it in, as I mentioned in my speech, like the Canada Infrastructure Bank, where the values and the objectives of an existing corporation are totally different from this Canada growth fund, which has clear objectives?

As you’ve seen in the technical backgrounder and in the Fall Economic Statement, there are clear objectives. It is clear as to what the government intends to do with this growth fund, what the objectives are and where the money will be invested. This is $2 billion to buy shares; the CEO will come next, then the board of directors, and the investments will come afterwards.

Would you not agree that the best way to do it is to have a new slate when it comes to technology especially, because equipment and technology become obsolete very quickly?

Going forward, would you not agree that a clean slate is the best way to go? Create a new corporation, and the purchase of shares is the first common step of creating any corporation. Would you not agree with that?

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