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Conservative MPs attack Carney for his work at Brookfield. They also invested in its companies (www.cbc.ca)

submitted 2 weeks ago by avidamoeba to c/canada

16 comments fedilink hide all child comments

Six Conservative MPs, including the party's deputy leader, disclosed last year they personally invested in companies related to Brookfield Corp., despite attacking Liberal Leader Mark Carney for his work chairing one of its spinoff companies.

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[+] [email protected] -13 points 2 weeks ago* (last edited 2 weeks ago) (2 children)

What about this deal, when Carney started taking a more active role the Canadian government was suddenly in talks with Brookfield to gift them our pension.

https://financialpost.com/fp-finance/brookfield-ottawa-major-pensions-being-discussed

Was there any news or followup from that, that's a lot more heavy than Pierre investing in a marketcap weighted etf.

[–] [email protected] 12 points 2 weeks ago (1 children)

The idea was to attract pension fund investment into the Canadian economy, not to give away the pension fund.

The creation of a multi-billion-dollar investment fund seeded with federal government money and designed to attract additional investments from Canada’s large pension plans is among ideas put forward as former Bank of Canada governor Stephen Poloz pursues his mandate to help Ottawa find ways to direct pension billions into the Canadian economy, according to two sources with knowledge of the proposal.

[–] avidamoeba 6 points 2 weeks ago

It's how I read it too. Now there's still a question of what Brookfield would make from this and whether that's the best way to invest this capital in Canada but that question stands with any investment scheme. There's no way to know that since it seems all this is ideation at this point.

[–] avidamoeba 11 points 2 weeks ago* (last edited 2 weeks ago)

Doesn't seem to be about handing over our pensions to Brookfield. It's about some scheme to create a fund that pension plans can invest some of their money in, which directs money into the Canadian economy. Whether it'll materialize or not, it woulds unclear. It seems like Steven Poloz initiated the idea. Probably that's why they're not talk to about it, doesn't sound like much of a heavy hitter.