OTTAWA \u2014 The Carney government needs to be more transparent in identifying which types of major projects are national priorities, says a leading think tank on the eve of a major Canadian investment summit.\u00a0<\/p>\n
In an open letter to be released Friday, the C.D. Howe Institute said Canada also needs to be clearer about processes and timelines for major projects, which have been identified by the federal government as a key building block in efforts to build a stronger economy.\u00a0<\/p>\n
After almost a decade under former prime minister Justin Trudeau where infrastructure investments waned, Prime Minister Mark Carney opened up a major projects office in Calgary a year ago to try to speed up regulatory approvals and financing. A number of projects have since been approved but some of those were already in the works, while others have been approved but are not yet under construction.<\/p>\n
“This is how we give investors the certainty they need, complete projects more efficiently, and create lasting economic growth,” the institute wrote in a document\u00a0obtained by National Post.\u00a0<\/p>\n
The letter, from the institute’s chief executive Jeremy Kronick,\u00a0also says that if Canada is to attract more investment, the country needs to\u00a0better leverage\u00a0its abundant\u00a0energy resources, while using\u00a0both conventional and renewable energy to better diversify the economy. \u00a0<\/p>\n
C.D. Howe also argues that the government needs to cut both business and individual taxes so that Canada is more attractive to new capital.\u00a0\u00a0<\/p>\n
The Canada Investment Summit is to be held in Toronto on Sept 14-15 and is expected to attract about 250 investment and financial services leaders\u00a0from around the world. The event is seen as an important opportunity for Canadian political and business officials to sell Canada as a place to invest. \u00a0<\/p>\n
Achieving that\u00a0goal\u00a0became more difficult late last month, however, when trade talks with the United States broke down, leaving access to the world’s largest market uncertain in some sectors.\u00a0<\/p>\n
The summit is a key piece of Ottawa’s effort to attract at least $1 trillion in investments \u2014 at least half of that new and from the private sector \u2014 over the next five years in areas such as infrastructure, mines, energy, defence, housing and artificial intelligence.\u00a0<\/p>\n
Many of the summit’s events are led by Canadian political or business leaders who are expected to present Canada’s case. Carney is scheduled to open the event with a keynote speech.\u00a0\u00a0<\/p>\n
National Post<\/p>\n
Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com<\/a> and sign up for our politics newsletter, First Reading, here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"OTTAWA \u2014 The Carney government needs to be more transparent in identifying which types of major projects are…\n","protected":false},"author":2,"featured_media":195040,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[61146,351,735,3178,111,61,61145],"class_list":["post-195039","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ottawa","tag-c-d-howe","tag-canadian","tag-carney","tag-danielle-smith","tag-mark-carney","tag-ottawa","tag-the-canada-investment-summit"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/195039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=195039"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/195039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/195040"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=195039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=195039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=195039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}