Tony Fell is the former chairman of the board of trustees of the University Health Network and a former chairman of RBC Capital Markets.
Prime Minister Mark Carney is doing a credible job of rebuilding our economy with major nation-building projects, diversifying our trade and enhancing our sovereignty after a decade of massive economic mismanagement.
Hats off to Mr. Carney. He has international respect and we are fortunate to have him as our Prime Minister. Nevertheless, it’s essential the federal government be bolder and move faster on more fronts. Can we walk and chew gum at the same time?
First, the government needs to know what it does and doesn’t know. Ottawa should announce the government’s intention to work with our major pension funds and international investors to privatize Canada’s three major airports and the Port of Vancouver. Privatization of such assets is happening all over the world.
The government should also announce an immediate plan to privatize Trans Mountain. The government may take a loss, but it needs to write it off and get it done. With all this privatization, the government can reinvest the proceeds in other projects. Trans Mountain could be done clean and quick.
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Some form of private sector involvement should be brought to health care, too.
The travails of Canada’s monopoly health care system have been well documented. Health care used to be viewed as the hallmark of Canada’s identity, but not anymore. Over the decades, our health care system has morphed into a national embarrassment with incredibly high costs, long wait times and a major shortage of nurses and family physicians, resulting in poor service to the average Canadian.
The Bank of Canada, as well as the current and previous governments, have all stated that competition is good for the economy because it encourages lower prices, better service and innovation. This government should amend the Canada Health Act to facilitate the implementation of a privately funded alternative health care system to work co-operatively in conjunction with our existing universal system in a model similar to those of the other 37 members of the Organization for Economic Co-operation and Development.
Lastly, the government should immediately repeal regulations and legislation that stand in the way of business and our common prosperity.
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This begins with the supply management system, which is a totally flawed public policy and a long-standing political sop of both major parties. They just don’t have the political courage to deal with it. Supply management puts major upward pressure on dairy and other agriculture products, raising food prices across the board. Its removal would be a key lever to improve affordability, a major concern to Canadians.
The federal government should also repeal the Oil Tanker Moratorium Act and the Impact Assessment Act, which are both so negative and severe for major projects that nothing will get built. The Impact Assessment Act should be replaced with more practical and pragmatic environmental protective legislation.
In other areas, though, the government needs to have a bigger hand and bigger presence.
Ottawa should announce it will immediately instruct the Minister of Finance to start negotiations with the provinces to implement a national securities commission. With the inefficient patchwork of provincial commissions we have, are we truly one Canada?
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The government should also immediately announce a total renovation of the Prime Minister’s residence at 24 Sussex Drive. The residence has been sitting derelict for many years and is a national embarrassment. There are benefits to having a proper residence for the head of government that go beyond sentiment. Get the renovation done and be proud of it.
None of this will be easy, and it will require sacrifices. There is no free lunch, especially as this country must accommodate increased defence spending to strengthen our sovereignty.
The GST will need to be raised from 5 per cent to 7 per cent, where it was when implemented by former prime minister Brian Mulroney and his minister of finance Michael Wilson.
Our youth will also need to step up. There is a new sense of commitment to Canada and the importance of sovereignty. Let’s test it out. To allow for planning, the government should introduce legislation that will make it so that – effective in 2028 – all Canadians between the ages of 16 and 21 will be required to do either six months of military training or six months of community service.
I believe Pierre Poilievre and the Conservative Party would support all of the above. What’s not to like?