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Capital requirements - Chris Galas

Capital requirements

Other Policy Issues

Capital requirements

Canadians have $1.7 trillion invested in foreign countries
Much of the capital requirements can be supplied by “patriating” foreign investments
Can be encouraged by changing capital gains tax – capital gains from Canadian sources taxed at 50%, from foreign sources at 100%
The resource developments and nuclear megaproject will provide good investment opportunities for patriated capital.

Immigration

Immigration is essential for Canada to grow
Rate must be controlled to what can be accommodated
Question: “How long does it take for an immigrant to start working?” Answer: 3 -6 months, then they are net contributors to the economy.

Defence

Cancel F-35 order – do not buy weapons from potential enemies
Focus on defence of Canada’s Arctic
Threatened by Russia and China
Need fast response to any encroachment – by air, sea, missiles
Support Ukraine to the fullest – distracts Russia from Canada’s Arctic
Build ships, icebreakers (with military capability), network of airfields
Train Canadian citizens in elementary military service, with emphasis on drone operation