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Finance Minister François-Philippe Champagne was asked where the $25 BILLION endowment for Carney’s Canadian Wealth Fund is coming from.
His answer?
Canada has a AAA credit rating, so we can borrow at lower rates.
Translation:
Borrow the money first.
Then when asked what return Canadians can expect if they invest, Champagne basically says they still need to consult the financial industry and stakeholders.
So Ottawa wants a $25B fund.
Canadians can buy in.
But the return?
They’ll get back to you.
What could possibly go wrong?
The Real Mr Bench@therealmrbench
Carney announced a $25 BILLION Canada Strong Fund. Canada is running deficits. Ottawa is cutting spending. Canadians are broke. So where is the $25 billion coming from? That was the reporter’s question. Carney’s answer? Wait for the fiscal update, trust the government, and somehow spending less means Ottawa can invest more. Translation: Canadians are already getting squeezed from every direction. Now Carney wants more of their money for another Liberal branded fund.
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