Poilievre Aims for “Awakened Capitalism” at Private Market Conference

In a speech at an annual meeting of financial market experts, Pierre Poirievre told attendees that private companies were less susceptible to “awakened capitalism” than public institutions. He criticized those who said “elite”.

A potential leader of the Federal Conservative Party commented during the opening keynote on May 5. Private Capital Markets Association Spring 2022 Conference.. It was his fourth year at the meeting. A few hours later, he participated in the first conservative leadership debate with four of his rivals.

“This awakening movement is designed to enrich a small number of privileged people at the expense of workers and investors, and to distract people using identity politics,” Poilievre said. Said in his speech.

In recent years, prominent public enterprises have begun to respond to more progressive agendas. One example is encouraging companies to adhere to ESG (environmental, social, governance) factors.

Poilievre said the private market is “often less susceptible to this type of harmful interference” from the markets that promote ESG as a listed company’s mantra.

“So I think private capital is becoming more and more attractive because it focuses on producing positive results rather than pleasing the little ones. [set of] Self-serving elite like Mark carney Others, “said Poilievre.

Carleton’s Conservatives in Ottawa, as Vice Chairman and Head of Impact Investing at Brookfield Asset Management, is an example of Kearney’s opposition to the Canadian pipeline project and investing in pipelines around the world. Pointed out.

Kearney, UN Special Envoy on Climate Change and Finance and Former Bank of England Governor, has proposed using financial regulations to direct trillions of dollars to the Net Zero initiative in private capital pools such as pension funds. increase.

State his case

Poilievre touched on a number of initiatives he would undertake to become the next Prime Minister of Canada.

He first said, “People have lost control of their lives,” such as a girl who was depressed because she couldn’t participate in sports and social activities for the past two years, or a small business owner who had to do it. I gave an example of. I shut down so many times that I couldn’t restart it.

Poilievre states that Canada has the highest inflation rate in 30 years.6.7% As of March, and affordable housing, he said these were problems that the government he led needed to solve.

“We are generating more cash without having to buy more in cash. More dollars chasing less goods always mean higher prices,” he said.

Poilievre has long criticized the Liberal Government and the Bank of Canada for their actions at the start of the pandemic. This will allow the central bank to fund Federal Reserve spending by printing dollars. This process tends to cause inflation and is adopted when policy makers fear deflation is a greater risk.

“It’s clear that there are small groups that are benefiting from our economic model and very large groups that are suffering because we are making cash, not what we buy in cash. “He said.

He accused the Liberal Party government of accumulating more debt than all previous governments combined. Under the Liberal Party administration, government bonds are over $ 1 trillion.

Poilievre suggested paying as the government progressed. That is, every dollar you spend must be filled with the saved $ 1. Also, if a particular government sector can’t find a dollar to save, you need to convince a wider government to find that dollar within your existing budget.

He said he would cancel the Liberal Party’s “overspending”, eliminate the Canadian Infrastructure Bank and reimburse the CBC. He said he would sell all CBC buildings to build more homes.

Poilievre also said he would face federal funding for big cities, where home prices average five times the median local income, to increase housing supply by 15% annually or regain infrastructure.

He said he would ban oil imports from abroad, build pipelines and increase energy production within five years of taking office.

The Bank of Canada, like other central banks around the world, analyzes the central bank’s digital currencies. Canadian press He reported that he would only issue one if the use of physical invoices plummeted, or if private cryptocurrencies such as Bitcoin became widely used.

“We ban banks by bringing in central bank digital currencies. I don’t trust the government to manage our personal bank accounts, which leads to censorship, politics, and even inflation. Let’s do it, “said Poilievre.

One of Poilievre’s beliefs is “remove the gatekeeper”. This is, for example, an obstacle that prevents home construction or immigrants from getting a license, or prevents people from saying or seeing on the Internet. He reiterated that he wanted Canada to be “the freest country on the planet.”

Rahul Vaidyanath


Rahul Vaidyanath is a journalist in The Epoch Times of Ottawa. His areas of expertise include economics, financial markets, China, and defense and security. He has worked at the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York and Los Angeles.