The National Telegraph - Wyatt Claypool - ＂Own Goal by Carney!＂ - CBC Panelist Admits Liberals Damage Themselves With Airport Selloff

00:00:00.000 Thank you to everyone who watched yesterday's show and put up with the fact it looked like a hostage video released by a terrorist group.

00:00:08.020 Today, we are back in the normal studio, so no more of that.

00:00:12.580 And we will be talking about a CBC segment with Rosemary Barton,

00:00:17.360 where the panel actually admits that Prime Minister Mark Carney accomplished nothing with his investment summit he hosted last week.

00:00:25.460 I think his EU stuff is similar.

00:00:27.920 he's basically just spinning his tires pretending like he's getting a lot done because he's meeting

00:00:33.380 with a lot of people but of course we're probably going to have the CBC at least glaze that because

00:00:39.040 a segment will never go by where they don't artificially pump up Mark Carney's tires but

00:00:44.560 before we get into the segment I do just want to remind you guys if you like the show make sure to

00:00:49.600 leave a like on the video subscribe if you are not yet a subscriber we are still trying to hit

00:00:54.860 100 000 subscribers before the end of the year like we failed to do last year and of course

00:01:00.360 leave a comment with what you think about all this but let's just jump right into it and i will

00:01:05.920 be pausing as we go through to make comments so if anyone wonders why i don't just play the whole

00:01:10.640 thing one that would be a fair use violation and two that would kind of defeat the purpose of me

00:01:15.440 being here at issue tonight a new relationship with the eu an alliance for the future is a unique

00:01:23.420 positive approach that we will define together that means nothing absolute pablum coming out of

00:01:34.120 prime minister mark carney's mouth what we are building here is the future that is going to

00:01:41.240 i don't know like make things better and we're going to determine what that is like that's

00:01:47.700 effectively what he said there but he just happens to have an eloquent way of saying nothing

00:01:53.240 The Prime Minister says it is strengthening the country's sovereignty, but the Conservatives warned Canada should not get too close.

00:02:00.860 Conservatives say no EU taxes, no EU laws, and no EU open border rules on immigration in Canada.

00:02:10.420 With the US president threatening Europe.

00:02:13.180 If they do that, if I think it's all a hostile act, I will put very serious tariffs or stop trading with Europe.

00:02:20.120 this has been completely blown out of proportion like I always find that J.G. McCullough tends to

00:02:27.720 be a pretty good referee of this because he does not like Donald Trump but he also really doesn't

00:02:32.940 like the hollow Canadian nationalism of Mark Carney and the liberals that really is just

00:02:38.440 anti-Americanism. Donald Trump did not threaten Europe he said that if it's at all hostile then

00:02:45.480 I would put tariffs on the European Union. What are the chances that this is actually hostile?

00:02:52.980 Zero. So he's not really threatening anything unless the EU started trying to box American

00:02:59.560 goods out of the market and replace them with Canadian goods. Yeah, that could be considered

00:03:03.880 economically hostile, but I really don't see that happening because I don't think Europe is

00:03:10.280 that suicidal at least yet i didn't actually originally plan to bring this up so you might

00:03:16.960 have noticed a pause there because i did want to find jj mccullough's tweet because i thought it

00:03:20.620 was quite good he's responding to this uh post by the sobsc letter that says breaking president

00:03:28.960 trump says the u.s will stop trading with europe if canada joins the eu as an associate member

00:03:34.440 earlier today canada was invited to become the first associate member of the eu by the european

00:03:39.280 Commission President Ursula von der Leyen. And then J.J. correctly points out, don't like Trump,

00:03:47.300 but this is becoming a game of telephone, because that's not what he said. If you look at the clip,

00:03:52.160 he seemed bemused and indifferent, while also making a Trumpy comment, like, if it was hostile,

00:03:57.280 he would cut off trade, but if it was benign, he wouldn't care. Absolutely. That is basically

00:04:06.100 what Trump said, and J.J. is not here to carry Trump's water. He doesn't like the guy, but he

00:04:11.880 also hates the way the media turns him into a boogeyman, where everything he says is always

00:04:18.160 interpreted in the most negative direction possible. But let's get back to the segment here.

00:04:25.460 So what's been made of Canada trying to form closer ties with the EU? Does the move

00:04:30.100 threaten Canada's independence or trade with the U.S.? I'm Rosemary Barton, here to break it all

00:04:35.420 down tonight. Chantal Hébert, Andrew Cohen, Althea Raj. Althea, why don't we start with you

00:04:39.460 this week? It became clearer after the Prime Minister's speech today. I am going to bet

00:04:46.140 money, some obscure amount of dollars, because I'm not actually betting anybody. But I bet

00:04:51.760 Cashola that she is going to somehow make this a problem of Pierre Polyev and the Conservatives,

00:04:58.740 because that's what happened on CTV News when Vashi Capellos was interviewing Shavloy Majumdar

00:05:04.060 three times in a row kept asking him, is it right for conservative MPs to call Mark Carney's moves 0.94

00:05:10.980 on the EU asinine and to react to it saying, what the actual hell? I think those are absolutely

00:05:19.120 apt reactions because he did not run on this and he just sprung it on people and then lied about it.

00:05:24.760 But apparently, according to Vashi Capellos in CTV News, the most important thing to take away

00:05:31.580 from it. And the most important thing to ask Shavloy Majumdar, the conservative critic for

00:05:36.460 Canada-U.S. relations, is why are you guys questioning this? You can question it, but why

00:05:41.620 are you guys acting this way? The opposition isn't supposed to oppose? The media's job is not

00:05:49.020 to critique how the opposition opposes the government. Sometimes it's relevant, but my

00:05:53.860 goodness, it's always the top thing they always bring up, how the opposition reacts.

00:05:57.860 What this is going to be about. He did put down some markers about what it would be like.

00:06:04.060 What is your impression of the case that he's making for this in this moment?

00:06:11.200 Well, I think I might quiver a little bit with you. I'm not sure that we really know exactly what it's about.

00:06:17.220 But I do think that there's a bit of like putting the toothpaste back in the tube.

00:06:21.820 I think there are good reasons, and the prime minister did a very good job of kind of linking our ties, Canada, with the European Union and with European countries.

00:06:33.420 Which ones? We already signed, we already put forward a free trade agreement for them with them in 2013 under Stephen Harper.

00:06:41.120 We already have defense alliances with them in the form of NATO and other more minor ones.

00:06:46.580 what else do we need what we're going to pay the money to keep being able to do free trade with

00:06:52.240 them that doesn't seem like free trade what we're going to have to we're going to take their

00:06:55.880 censorship laws and their insane open borders immigration policies for just for the fun of it 0.98

00:07:01.420 like what is the actual benefit here we just like she can't even list anything she just keeps

00:07:05.660 vaguely uh like inferring that mark carney had a good idea um and the necessity to work more

00:07:12.500 closely with like-minded nations. But in terms of what it actually is, I don't know. I mean,

00:07:20.140 the government says basically stay tuned until October 30th at the summit in Montreal. We know

00:07:25.540 that they want to work more closely on AI, on defense in the Arctic. We know that the prime

00:07:31.160 minister spoke that it's not going to deal with agricultural goods, for example. That doesn't

00:07:36.500 mean you have to join the EU. That would be as asinine as saying that you had to become the 51st 0.65

00:07:41.240 state of the United States if you wanted to trade with them. Because, well, frankly, Europe doesn't 0.77

00:07:47.740 want what we would like to send to them. But in terms of what it means, like the risks that were

00:07:53.020 outlined by Pierre Polyev in your clip there, we know that those are not things that the government

00:07:59.280 is necessarily talking about. There may be some quivering. How can she say that what Pierre

00:08:04.640 Polyev is saying about the concept of a deal is wrong if you've admitted you don't even know what

00:08:10.880 this is about. That's always the funny thing. They have no clue what Mark Carney is doing,

00:08:14.560 but they definitely know it's not what the Conservatives are saying it is.

00:08:18.900 On the immigration front, in terms of like, you know, whenever you say that you're going to have

00:08:23.880 visa-free travel for students, for example, is there a cap to that number? If so, like,

00:08:29.000 could you have a whole bunch of people moving here and then qualifying for subsidized tuition?

00:08:33.140 What concerns would that raise? But we don't know enough. The government has not been transparent.

00:08:38.840 frankly, had told us last week that the Wall Street Journal story was not true. So it's hard

00:08:44.920 to have an opinion when the opinion is not quite informed. Sure. Yeah. And I can at least give her

00:08:50.360 that she actually did refer to the fact that the Wall Street Journal article came out, then the

00:08:54.120 liberals denied it. And now we're actually now we're talking about an associate membership

00:08:58.200 that was apparently completely obviously not happening based on the denial that someone from

00:09:05.920 the Liberal government gave to CTV News last week. It hasn't been, I mean, it hasn't been well

00:09:12.040 handled, that's for sure, since that report out on Sunday in terms of what was real and what wasn't.

00:09:17.540 But there is a little bit more meat on the bone because of the Prime Minister, Chantal. So what

00:09:21.480 do you make of what he's saying and what he's not saying, to Althea's point?

00:09:26.820 Well, what he's not saying is we are going to accept another layer of bureaucracy coming from

00:09:33.740 brussels and the european union so uh anyone who wants to take a shot at that is shooting

00:09:41.220 at the target that doesn't even exist it's called well yes because he stayed vague about what it

00:09:46.840 means you can't just say well if your pure polyam is trying to fire shots at this agreement at this

00:09:54.480 potential partnership over uh you know having to follow eu laws or having to pay the eu money or

00:10:01.160 or immigration you're firing shots at a target that doesn't exist because mark carney has not

00:10:07.060 put any meat on the bones unlike what rosemary barton is claiming if it was a great idea you

00:10:13.580 would give details in like fulsome details i'm not expecting everything's written up and that

00:10:19.020 they're going to be pursuing this thing like you know in earnest as of like you know tomorrow

00:10:23.680 i'm just saying that you would think that he'd be able to lay out what he'd like to see out of an

00:10:28.100 agreement what he'd like to see from an associate membership and he's deliberately saying nothing

00:10:33.580 and then we criticize the opposition for having criticisms because they can they have imaginations

00:10:39.900 they could imagine what this would entail because we know what other eu members have to do so we're

00:10:45.400 going to assume that an associate membership is going to be somewhat like that but no you can't

00:10:50.140 say that because we haven't actually detailed what it's going to be yet like well isn't that

00:10:53.460 convenient that you can just stay vague and that means that you're not allowed to be criticized

00:10:57.100 Kicking open a door that's already open. Closer ties, not a secret. Lots of details to come. An interesting proposition that is, I think, welcomed by most Canadians until further notice.

00:11:14.680 I think it's really too early for any party to say, I'm against this. And I'm thinking of the Conservatives here.

00:11:25.200 i think in general when it comes to a big change you should be more so against it until it's proven

00:11:31.440 to be good i i don't like this liberal mentality of just be in favor of this come on look at the

00:11:36.980 polling that says people want to join the eu it is true that polling did come out showing that

00:11:42.000 well you know 49 or 48 percent of canadians or i think it was like 47 would be open to joining

00:11:47.180 the eu as a member and only like 29 or 30 percent opposed it and then there was a bunch undecided

00:11:52.740 But the problem is people are answering the polls on the EU question in the context of the United

00:11:58.600 States. It's a really big problem with polling right now. And I think that's also why you see

00:12:04.460 so many polls where the liberals have leads that I think are unrealistic. People are answering the

00:12:09.940 question with a phantom Trump in their mind. Every time they're asked who they're going to

00:12:14.040 vote for nationally or what do you think about the EU or what do you think about like literally

00:12:18.900 anything. People imagine, okay, what would Trump do? I want to do the opposite of that. So they're

00:12:24.260 like, Trump would probably vote for Pierre Polyev. So I'm going to vote for Mark Carney. Trump would

00:12:28.800 probably not want us to join the EU. So I want to join the EU because it's better than joining the

00:12:33.000 United States when neither thing needs to be on the table whatsoever. And that's the thing that

00:12:38.460 is so frustrating whenever people act like there is massive support for this or it's significant.

00:12:43.660 It's like, it's really not. In that case, it actually is so early going. You can't really

00:12:48.340 poll people on something that has no detail to it but the opposition can criticize it for what it

00:12:53.940 could be when the government refuses to give detail and this is apparently something that

00:12:57.860 carney's been thinking about for like a year and he has nothing to actually say in terms of what

00:13:02.260 you'd like your relationship to look like uh this is the the party that started what is called cita

00:13:08.820 the the european trade agreement between canada and the european union so if this is an extension

00:13:18.420 of that how can you be against that before you've even seen anything because if you already have

00:13:25.780 the part you want which is free trade why do we need more that's like saying well i don't even

00:13:32.980 and know how to compare that to if it's like saying I really like getting you know I'm a fan

00:13:40.120 of A&W food I like to get a burger from A&W sometimes and then you say well don't you want

00:13:47.080 to integrate more with A&W in your life and I'm like well I don't want to you know get a job or

00:13:53.200 you know give them any more money for no reason it would be like that kind of like there's it's 0.99

00:13:58.400 honestly such a weird thing to say it's hard to even find an example that encapsulates how stupid 0.97

00:14:03.300 that is we already have what we want what like it's like well it's just shouldn't canada just 0.88

00:14:09.160 become a full eu member maybe canada should just be owned by the eu because it's more of what we

00:14:13.820 want you know working with the eu is more of what we want so we should be open to anything

00:14:18.080 obviously not the magic words in politics and policy are it depends it depends it really

00:14:25.560 depends on what it is that relates to it i don't know me i tend to keep an open mind

00:14:32.480 come back to canada show me the details we'll see but nothing there's no deal on the table

00:14:39.120 nothing is being negotiated or signed but i do take it as a positive sign because if you're

00:14:45.880 going to diversify away from the u.s then you should be looking at europe sure among other

00:14:53.660 places. And the fact that the Prime Minister has said he'll put it in front of Parliament for a

00:14:57.960 vote, I mean, I think that probably is helpful for the opposition parties as well. Andrew,

00:15:03.240 what do you make of it? Well, the fact that no one knows what's in it has not deterred anybody

00:15:07.240 from running to say what's in it, either to exaggerate it in the case of the Conservatives

00:15:12.660 who've been mounting, frankly, a hysteria campaign about stuff that is never going to happen. There's

00:15:16.940 not going to be Canadian members of the EU. We're not going to have... That's never not what they've

00:15:22.340 said he's calling it hysterical for the conservatives to say we don't want to be an

00:15:26.620 associate member of the eu have no voting power which is how an associate membership works but

00:15:31.340 then have a bunch of responsibilities to them but maybe have to follow a bunch of their policies

00:15:35.240 but maybe have to give out visas to any member anyone who lives in the eu who could be migrants 1.00

00:15:41.620 that we don't want getting into our country those are absolutely rational things to have a problem 0.92

00:15:47.780 with but it's always it's it's hysteria to have a problem with what we can absolutely infer about it 0.88

00:15:54.980 and they're not saying this is exactly what it is they're saying we don't want it if it includes any

00:15:59.380 of this stuff which why do we need an associate membership if you don't want to get involved in

00:16:04.180 that stuff like eu governance and policy and and green energy standards and all that other stuff

00:16:09.700 because we already have the free trade agreement so what else are you looking for what is what else

00:16:14.500 does more integration actually mean what does closer ties mean if not the things that the

00:16:20.020 conservatives are pointing out could be part of it and having an issue with the european parliament

00:16:24.980 running our affairs we're not going to be paying eu taxes we're not going to have okay so apparently

00:16:30.740 andrew coin nothing's been said but he knows that these things are not going to be part of it stuff

00:16:34.820 that is never going to happen there's not going to be canadian members of the eu we're not going

00:16:39.540 going to have the European Parliament running our affairs we're not going to be paying EU taxes

00:16:43.420 it's just what about regulating our affairs what about paying some fees to be part of it

00:16:49.860 he said that we're not going to be members of the European Union but Mark Carney and

00:16:54.880 the president the the the commissioner Ursula von der Leyen said that we want we could be an

00:17:02.580 associate member so what is he talking about are we a member are we not does he know something we

00:17:07.280 don't know Andrew Coyne is a husk of a human being he just his opinions are like basically

00:17:14.980 geared they are calculated triangulated to being the most boringly sycophantic position for the

00:17:23.720 current liberal government he is somebody who just simply likes whoever is in power because

00:17:29.120 he is a massive establishment shill and he is a shill he literally gets paid to have these 0.99

00:17:34.900 crappy middle of the road who gives a crap opinions on CBC. But now let's jump ahead to 0.99

00:17:40.560 the segment that they did on the investment summit, because this was where it's kind of

00:17:44.320 interesting, where even Andrew Coyne admits that the whole thing was a nothing burger,

00:17:48.400 even though we were told it was so important. It was so great that Mark Carney was gathering

00:17:52.920 all these people in the room to hear him talk about minor changes he was making to the investment

00:17:57.500 environment. At issue, Mark Carney's investment summit, the PM is trying to position Canada as a

00:18:03.400 reliable trading partner with the government claiming nearly 500 billion dollars in new

00:18:08.400 commitments. Because we have much of what the world wants, because we're a reliable partner,

00:18:14.580 we are finding that we're able to deepen, broaden our trading network. So we will be

00:18:21.560 one of the countries in which capital can flow freely. Here to break down Mark Carney's pitch

00:18:29.420 to invest in Canada. Chantal, Andrew, and Althea. Andrew, why don't you start us off on this one?

00:18:33.420 How did you think that that summit went? Certainly, there was a lot of buzz. And that was part of the

00:18:39.240 goal was to get people talking about investing in Canada. Yeah, I thought it was a lot of overhype

00:18:44.320 to start with. Of the $500 billion, $325 billion is over five years from Canadian banks making

00:18:51.580 loans. Well, that's what Canadian banks are supposed to do. It's not actually that new or

00:18:55.620 that large. So did you hear that? That is over two-thirds of the money that Mark Carney is

00:19:01.960 claiming is going to be brought into the economy from what he's been doing by signing random MOUs

00:19:07.860 around the world and getting commitments for investment in Canada. Two-thirds of it, more than

00:19:13.000 two-thirds of it, is already what the government was preparing to give out anyways. It's what the

00:19:18.620 Canadian banks were already prepared to basically loan companies in order to start new businesses

00:19:23.880 or expand or do whatever. So the rest of it, like $100 million in the ballpark of $150 million,

00:19:31.900 that $150 billion, that's like the real money being invested here apparently from outside that

00:19:38.400 we would have never gotten if it wasn't for Mark Carney. No. Mark Carney has nothing to do with

00:19:44.680 foreign investment like that. If anything, if he just cut taxes and shut up, we would be doing way

00:19:50.000 better but mark carney needs to have his fingers in the pot whenever money is entering the economy

00:19:55.600 so he can pretend that he's a wizard and he's making things happen through his presence this

00:20:00.300 is no one there's no big there's nothing no big development came out of the summit it was basically

00:20:06.800 just propaganda for mark carney it seemed like a tough guy standing up to trump and you know going

00:20:11.840 his own way and getting his own investments without needing the americans um and you don't

00:20:17.760 need to gather a bunch of people in a hotel ballroom to get them to either people to pitch

00:20:22.780 their projects or financiers to invest. And that's what they do again all the time. They're very

00:20:27.820 versed in it. They're quite adept at it. What I think it might have had more impact on is the

00:20:32.520 kinds of policy announcements that followed from it. There's no shortage of capital out there to

00:20:37.980 invest. What's been the problem is investable projects because A, we've tied them up in knots

00:20:42.380 regulatory wise and b we've had very high rates of taxation particularly at the margin well we had

00:20:49.440 big announcements particularly on the tax side that no we did not i explained in another video

00:20:55.560 that this is a giant nothing it's not like companies don't appreciate it fair enough there

00:21:00.660 are going to be some companies who do consider this to be a significant change you have to be

00:21:04.880 a company dealing in pretty massive scale before you're excited at all by what mark carney announced

00:21:10.580 What he did was his mega deduction is not a bad idea.

00:21:15.080 It could maybe help kickstart some investment in Canada, but it doesn't solve the medium and long term investment problems that Canada has.

00:21:23.260 What the mega deduction allows you to do is for a certain period of time, the government is allowing you for every dollar that you invest in the economy.

00:21:32.080 let's say that you have a mine and you buy a giant you buy some giant trucks to haul you know

00:21:38.480 soil and minerals out of it and you buy a new crane for your like you know your construction

00:21:44.320 company and you buy you know you buy you build a warehouse or whatever for your import uh brand

00:21:50.780 your import um you know company or whatever it doesn't matter what you're doing what the mega

00:21:55.540 deduction will allow you to do is take those capital costs and write off 100 of the costs

00:22:00.200 Now, companies already can write off business expenses, but what you usually have to do is write it off over time based on the depreciating value of that asset.

00:22:10.720 You buy new company trucks and you expect that you're probably going to be using them for 8 to 10 years before you then, you know, get rid of them and buy new trucks.

00:22:20.300 Okay, well, you can, let's say it's 10 years, you write off 10% of the value of that truck over the course that it's being used each year.

00:22:28.020 And instead, you get to write off 100% of it right away.

00:22:30.480 Fair enough.

00:22:30.940 That's not a bad thing.

00:22:31.760 But it's not like companies don't understand that they are still effectively at even.

00:22:37.560 You just get your money back faster.

00:22:39.600 You get your tax dollars reduced earlier.

00:22:42.320 But you're then paying more taxes in the long run after that.

00:22:45.360 Maybe it can help kickstart more companies.

00:22:47.040 But the main problem with Canada's economy right now is overall taxes and regulations.

00:22:54.360 And the MAGA deduction, while it speeds up that deduction process, at the same time, you're just basically getting the same money back that you would in the long run faster, and it's a limited program that only exists for about a year or so.

00:23:09.740 anyway so let's just get back to this but the whole idea that somehow this was some big exciting

00:23:14.820 breaking piece of news out of the summit is ridiculous no it was not it was okay some people

00:23:20.520 were praising it but overall it was kind of liberal kind of liberal sycophants who were the 0.60

00:23:25.220 main people who were talking about how great it was most other people were reacting to it as kind

00:23:29.780 of like a i guess that's nice now could you fix the actual economy the the immediate expensing of

00:23:37.740 investments, across two thirds of investments. Every economist will tell you this is huge and

00:23:42.680 it's going to cut in half the marginal effective tax rate on that. That's the kind of thing really

00:23:47.480 that it cuts in half the marginal effective tax rate for that year that it is active. After that,

00:23:55.300 the tax rate is normal again. Before what you would do with your expensing over time is that

00:24:00.460 your tax rate might be reduced by around, you know, 10 or 15 percent of the overall amount that

00:24:05.880 you're paying and then you pay less over time unless you don't have any capital things to

00:24:11.080 expense which you know most companies do unless it's like some sort of like online business that

00:24:16.000 doesn't have any like real big capital costs this isn't actually fixing they keep just saying

00:24:22.500 half the effective tax rate no the marginal effective tax rate is really not being

00:24:28.920 modified by that, by anything. It's, again, the same thing we always had, faster for a limited

00:24:36.060 amount of time. Investors, both domestically and abroad, need to hear. They need to hear things

00:24:41.200 like, you know, one year, one review types of things to make more certain and more quick

00:24:47.080 regulatory approval. These are the kinds of things that maybe this is a good platform to announce

00:24:52.540 them when they've got people's attention. And I think following through on that was good. So

00:24:57.040 I think it's been a good week for Canadian investment. The summit itself was a little bit

00:25:00.800 gimmicky. Chantal? I still think that the main purpose of the summit was to send a double

00:25:09.600 message to the Trump administration that there are others who want something from Canada and to

00:25:15.420 Canadian. There are others what though? Of course that you can get people to show up and listen to

00:25:20.980 you. It's not like the leaders of the world showed up to the investment summit. It would have been

00:25:24.480 people representing certain, you know, financial groups or companies or whatever who were there to

00:25:30.000 listen. Apparently, it wasn't really that many countries really represented in the crowd. Overall,

00:25:35.100 it was kind of a limited number of people. And many of those companies mostly do business in

00:25:39.160 the United States. And, you know, hey, they can just jump over the border and give you a listen.

00:25:44.000 And that's kind of what happened. The idea that this is going to get like the Trump administration

00:25:48.020 shaking in their boots is ridiculous. It's not. And they keep admitting that, yeah, 0.77

00:25:54.040 the actual summit itself was not very effective so how can the actual summit itself be gimmicky

00:25:58.780 and not effective but it's sending a message to donald trump what it's sending him the message

00:26:04.040 that we're not very good at this like donald trump just signed an agreement with denmark and

00:26:09.200 greenland for more you know military autonomy over where they can set up bases and operate 0.73

00:26:14.800 in greenland now he could have probably gotten it without doing all the dumb hey we're maybe

00:26:19.960 going to make the Greenland, the 51st state type stuff. It's silly, but that's Trump's style. 0.97

00:26:24.920 The thing is that Trump actually is getting deals done with all these countries that seemed

00:26:29.800 unthinkable at the same time that Canada is not gaining more leverage on the United States

00:26:34.820 and not getting a deal signed. We're in the worst of all possible worlds right now because Mark

00:26:40.320 Carney's ego is too big to actually sit down and hammer out and horse trade his way to somewhat of

00:26:46.680 a good deal. I don't need it to be perfect. It just needs to be pretty good. And he refuses to

00:26:51.720 negotiate it because he doesn't want to actually accept that Donald Trump is a legitimate actor

00:26:56.760 that he has to put up with. You don't have to like or dislike Trump to deal with him. You just have

00:27:01.400 to like Canada more than you hate Trump in the United States. But Carney hates the US more than

00:27:06.860 he actually likes Canada. Yes, that there are people who want something. I agree with Andrew

00:27:12.560 about the bottom line of the actual summit.

00:27:16.360 And yes, it does pave the way

00:27:18.040 or maybe will help the government

00:27:21.080 come up with a narrative

00:27:23.180 to get some changes in over the next fall.

00:27:27.800 So on that score, strategically,

00:27:30.280 it wasn't a bad move.

00:27:31.560 But otherwise, beyond that,

00:27:34.440 it's like the previous topic, time will tell.

00:27:38.040 Yeah, yeah.

00:27:38.640 And I mean, I will say that the government

00:27:40.440 presents it as the first step of something

00:27:42.480 right as opposed to the end of it so i i guess it is a time will tell thing but but was it if this

00:27:48.180 was something the conservatives did let's be very clear none of these people would be giving that

00:27:52.400 all of this leeway they would be saying it's a nothing burger nothing came of it they're saying

00:27:57.340 it's the first step to something but it didn't seem like any momentum was actually created by it

00:28:01.120 and again we have chantelle hubert making contradictory statements oh it's sending a

00:28:06.360 message to the united states it's also a nothing burger so what is it because it can't be both of 0.63

00:28:11.300 those things at once. Worth the exercise Althea for 12 for all the points that Andrew laid out

00:28:17.520 there. Yes, I think so. I mean, I think to add to what my colleagues have said, I think it

00:28:23.620 showcased that the Prime Minister has a very healthy network that he can call on to and these

00:28:30.520 people basically answered his call and came to Toronto. I did not expect that we were going to

00:28:36.220 have an announcement of a trillion dollars worth of projects. I think these people came with an

00:28:41.020 open mind to hear what the Prime Minister was saying. In fact, I was surprised by the tax

00:28:46.660 changes. That is a big change, as Andrew outlined. It's a short term big change, but it doesn't

00:28:54.900 actually, again, equal a better economy. Companies with big scale, they can handle writing something

00:29:01.780 off over 5, 8, 10, 15 years. They understand that they are eventually going to get that money back

00:29:08.900 and their companies can operate with knowing that that is going to happen. There's no company that's

00:29:15.760 going to panic and like collapse because their deductions weren't coming in fast enough.

00:29:21.400 It does help. And maybe it does allow you to invest more upfront knowing that you can write

00:29:27.020 off your taxes faster. That's a fine change. I'm not even I'm not against it. I'm not here to argue

00:29:31.300 against it. I'm here to argue that it's not the sort of like massive economic development that

00:29:38.480 these people are pitching it as. If you just knocked 1% or 2% off the corporate tax rate,

00:29:44.180 that would be a bigger deal. Because at the end of the day, after your deductions, you're still

00:29:49.160 paying the same taxes. You still end up having to pay the same taxes on the profits that your

00:29:54.300 company is making. That is the problem that Canada has. Deductions always existed. And if deductions

00:30:01.040 were enough to attract investors, we should have not been losing people so quickly over time.

00:30:07.220 what is this going to do? Slightly slow the bleeding? The problem is companies don't have

00:30:11.540 enough money to even invest in the first place and expand and write off those capital costs.

00:30:16.900 I was surprised that the Prime Minister hijacked his own investment summit, frankly, to announce

00:30:22.660 the opening of Canada's major airports to privatization. That, to me, seemed like an

00:30:30.800 own goal politically. MPs were caught flatfooted. It's finally giving the NDP an issue that

00:30:38.620 resonates beyond just the environment on their tagline of the government being for the money

00:30:44.640 and not the many. And it's also a deeply controversial decision where most Canadians have an experience

00:30:52.940 going to the airport. And many of us have gone through Heathrow and that is one of the airports

00:30:58.760 the Prime Minister noted the Canada Pension Plan is invested in.

00:31:03.400 It's a terrible airport, and it is one of the most expensive,

00:31:06.700 if not the most expensive airport in the world.

00:31:09.780 And to announce a project that was almost like already baked in,

00:31:13.120 like the Canada Pension Plan wants to invest in this.

00:31:15.320 Of course they want to invest in this.

00:31:16.500 They're basically monopolies and cash cows.

00:31:19.180 How are you going to protect passengers and workers at the airports?

00:31:22.760 And now you're seeing that there is a lot, a lot of MPs are hearing from constituents on this point.

00:31:30.080 You know, that's not something the government campaigned on.

00:31:31.960 Sorry, I'm ranting.

00:31:32.820 But I don't know why they needed to do this.

00:31:37.840 It doesn't look to me like Rosemary Barton is happy that this was brought up.

00:31:41.920 And here's the thing.

00:31:42.820 I actually don't mind if airports are privatized.

00:31:46.000 You can have them privately operated or owned.

00:31:48.360 That's fine.

00:31:49.080 It doesn't bother me.

00:31:50.180 It's just a way of operating airports.

00:31:52.580 airports are one of those things that if the government runs it doesn't offend me doesn't

00:31:56.960 offend me if the government owns it but it's it's you know operated privately or if a private

00:32:02.320 company fully owns it now the Heathrow airport sucks because of bad regulations and bad taxes

00:32:09.400 and effectively a government-enforced monopoly it's not because it's privately owned but Althea

00:32:14.640 Raj is somewhat correct that this was an own goal from Mark Carney because Avi Lewis does not have

00:32:20.480 good narrative to run on as an NDP leader and this actually does give him something to run on

00:32:25.740 and it does get a lot of people quite emotional they really hate the idea of assets being sold

00:32:31.900 off that were previously publicly run and they had no problem with because people start imagining

00:32:37.340 all the things that could go wrong even our health care system people get freaked out by

00:32:41.720 slight privatization of delivery even if in theory it could actually make things a lot better and our

00:32:46.700 public health care system doesn't operate well at all. People already get freaked out about

00:32:51.260 privatization in institutions that don't operate well. And with most airports in Canada, I find

00:32:56.560 they operate pretty well. So this is not really a good way of winning votes for Mark Carney,

00:33:01.880 especially because he just canceled, or at least he was kind of trying to pull out of the Billy

00:33:05.880 Bishop airport expansion. So he's both against airport expansions, or at least not willing to

00:33:10.960 back it. And he also wants to sell our current airports, which really to me just comes off as

00:33:18.320 financial desperation. How much money is this really getting you in the long run? It wouldn't

00:33:23.180 even dent his deficit overall if you sold off all of these airports. And many of them are kind of

00:33:28.680 money printing machines in terms of the actual operation of the airport itself. Airlines, I always

00:33:33.400 feel bad for them. They get the short end of the stick. They have to pay massive taxes. They get

00:33:38.720 all the grief from customers when so much of the actual problems are being caused by the government

00:33:44.300 and by the airport authorities themselves putting ridiculous airport improvement fees

00:33:49.300 on your ticket that end up making like 30 40 percent of the overall cost and then the airlines

00:33:55.500 get like you know people sticking their fingers in their chest because my airline ticket costs so

00:34:00.240 much and why are you guys so slow and all these things it's like it's the airport it's not the

00:34:04.360 airlines my goodness but yeah going back to it a good point overall rosemary barton looks like a

00:34:11.460 bit of a sourpuss that this is being brought up but again like what are you doing mark how is this 0.98

00:34:17.660 getting making canda stronger that we've been this entire segment has been either them excusing

00:34:24.940 or celebrating carney effectively doing nothing and then someone actually brings something real

00:34:30.620 that he is planning on doing up and now everyone's mad everyone's getting a little everyone's getting

00:34:35.120 a little tight because this isn't this isn't this isn't the mark carney celebration party that i

00:34:40.280 showed up to this is not the purpose of at issue we only talk about why the mark carney liberals

00:34:45.120 are doing a good job and the opposition sucks don't you understand this althea this is not an

00:34:49.960 investment that's going to make canada strong and um it is filled with risks and this is not

00:34:56.300 government has the problem spending money so i don't know why they chose are allowed here althea

00:35:07.500 okay just so you know that many of us have gone through to the airport under the current system

00:35:13.820 and found it terrible so i don't think that picking one under one system as being terrible

00:35:19.580 is a validation of our current um investment okay okay althea is actually right that because 0.99

00:35:27.980 she's cutting her in there what chantelle hubert said there was stupid oh well you know the you know 0.93

00:35:33.660 some people have good experiences and some people have bad experiences aren't isn't this the same 0.98

00:35:39.180 show that if i brought up if i was on the panel for some reason somebody at cbc had a stroke and

00:35:44.060 and they let me on the panel, they would immediately, if I brought up privatized

00:35:48.720 healthcare, they would have a cow about it. Oh, you mean like this one anecdotal story in the

00:35:54.760 United States of somebody not being able to get an organ transplant or whatever, even though the

00:35:58.800 American system does run better than ours, it's not good, but it just demonstrates how bad the

00:36:02.980 Canadian system is, that the American system is better. If I brought up any privatization,

00:36:06.860 even if I was talking about another country that does it way better, they would freak out and say

00:36:11.240 that no that's part canadian culture but if you bring out but if you criticize carney trying to

00:36:15.820 privatize airports which are far less of a big thing that need that it's far less of a needed

00:36:21.660 thing and it's arguable whether it's needed or not i could hear it both ways and no no althea

00:36:27.860 you can't say that that's an illegitimate example you can't bring up london heathrow you can't do

00:36:32.480 that it's like my goodness like really this is what we're gonna get up in arms about

00:36:37.740 beautiful airport um investment okay but you can say vancouver is a beautiful airport

00:36:44.700 no no no seriously uh i've gone to a number of those airports that are that rely in part

00:36:52.140 on private investments and that worked fine two of them this summer so i i think again we need

00:36:59.100 to see more fine print on this before we come uh to the to a final judgment of course of course we

00:37:05.740 go back to okay if you have any negative opinions shut up shut up we're gonna figure it out later 0.89

00:37:09.420 don't worry shut up and even when we do get the details later we're like we'll wait for them to 0.97

00:37:13.180 implement it and once it when it's implemented they'll be like wait 10 years then we'll see the 0.75

00:37:16.940 real results once all the academic studies are in but um the notion that it's suddenly rattled

00:37:23.900 many canadians i'm not so sure that that is actually uh reality at this point well and and

00:37:31.420 the fact that the prime minister said we'll use the money to pay for regional airports

00:37:35.740 you know i think that that was in some way to try and reassure some canadians that maybe things

00:37:39.660 would improve i'm not saying it's going to work but that was obviously part of the justification

00:37:43.100 andrew yeah well it always depends on the incentives and the the the system you set up as

00:37:48.060 to what what you're rewarding what you're penalizing so it will depend as chantelle says

00:37:52.220 a large extent on the terms it will free up capital and it may serve as a again as a template

00:37:57.660 for further opening up of infrastructure to private investment which would be good from the

00:38:02.460 standpoint of um again freeing up um scarce public capital the amount of actual public capital that

00:38:10.700 you would get from selling them is very minor because it's not like the public sector it's not

00:38:15.740 like those that are being operated by like crown corporations are just losing money left and right

00:38:21.420 if anything they usually are doing quite well the actual institution of the airport again you'll

00:38:27.180 have airport improvement fees and other taxes on your tickets that are hitting 30 40 of the overall

00:38:33.500 cost and they're not the ones having to put jet fuel in anything and pay pilots and stewardesses

00:38:38.380 or anything like that they operate the security they operate the actual infrastructure of the

00:38:43.260 building and all that you know that costs money but the amount of money that they are getting

00:38:48.380 as not the primary operators not the primary pay cost payers at the airport is ridiculous i believe

00:38:55.740 the Vancouver airport improvement fee is like $27 a passenger per flight. It's nuts how high

00:39:03.460 it is. And then you'll have fuel taxes on that. You'll have other GST and potentially HST on it.

00:39:10.860 Lots of other random little airline ticket taxes. It's ridiculous how high they are. And the idea

00:39:16.540 that this is going to free up a bunch of capital. No, it's going to be minor, if anything. What are

00:39:22.320 you going to be able to approve one extra project a year actually no it doesn't even really cost

00:39:26.960 money to approve a project they can just do it they just don't what are we going to like but

00:39:32.220 take a single billion dollars every year and spread it a lot among the provinces to fill a

00:39:37.160 pothole no it's just not going to happen anyways with all that being said sorry this video has been

00:39:44.000 a little bit long i do like to kind of chew on these cbc segments it's always good to kind of

00:39:48.260 check in at the legacy media outlets and see how they're covering issues i think that the thing

00:39:53.460 that you should always take away because some people say i don't want to hear those cbc who

00:39:56.900 cares what the cbc is saying i hate them i hate listening to them fair enough but know that you

00:40:01.940 have relatives or friends who may listen to may listen to them and it's good that you're aware of

00:40:07.060 what's being said on these programs but anyways with all that being said thank you guys for

00:40:12.100 watching make sure to like share subscribe consider hitting the join button and i'll see you all next

00:40:17.460 time.

The National Telegraph - Wyatt Claypool - September 20, 2026

＂Own Goal by Carney!＂ - CBC Panelist Admits Liberals Damage Themselves With Airport Selloff

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