Munk Dialogue with Andrew Coyne: Carney opens Canada for business and courts a new European alliance

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Andrew and Rudyard begin with several important announcements from Carney’s investment summit, including a cut to the marginal effective tax rate on new investment and the opening of Canada’s airports to private investment. The government is aggressively courting both domestic and foreign capital. There is still much more to do on tax and spending reform, and Canada needs to get serious about its deficit and debt—but these measures suggest we are moving in the right direction.

In the second half of the show, Rudyard and Andrew turn to Europe and the warm reception Canada’s prime minister is receiving from EU politicians and lawmakers. European Commission President Ursula von der Leyen has even floated the idea of Canada becoming an associate member of the European Union. What would that mean, and how could closer ties with Europe strengthen Canada’s economic prospects?

Andrew argues that Western democracies have a growing interest in standing together as they confront an increasingly assertive China and Russia and an America under Trump that is becoming a less predictable partner. Canada needs allies, and deeper economic and political ties with Europe could make strategic sense in this new geopolitical environment.