Freeland says this will make it easier for Canadian pension funds, which have more than $3 trillion in assets, to make significant investments in Canadian entities. The federal government plans to consult with the provinces on the treatment of provincially-regulated pension plans during the development of regulatory amendments.
The announcement also includes potentially lowering the threshold that limits municipal-owned utility corporations from attracting more than 10 per cent private sector ownership, which Ottawa says would help Canadian pension funds acquire a higher ownership share. The government will also consult airports and pension funds on potential ways to further incentivize investment on airport lands, such as by making changes to airport authority ground leases.
The deputy prime minister says Canada is “in a global fight for capital,” especially as the incoming Trump administration seeks to create “economic uncertainty outside the United States as a strategy to discourage investment anywhere other than the United States.”
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