True Patriot Love - Carney’s 2026 Budget： Who Really Benefits？｜ Part 1⧸4

00:00:00.000 Well, let's do a panel. You guys repaired the set last year when the front fell off.

00:00:04.880 Where is the mega deduction on my grocery bill? We didn't see it.

00:00:08.080 Well, they said there's 22 billion of investment to make life more affordable.

00:00:11.840 And that one measure, the one measure of the mega deduction is 50% more than all of the

00:00:17.040 affordability measures combined. 50% people will receive in February.

00:00:20.880 You should celebrate that we're making, we're taking the measure to hand homelessness in this

00:00:25.760 country that is something you should stand okay shout out to david cochran from the cbc who called

00:00:37.360 this his piper's pit classic wrestling moment seconds after the budget release there was almost

00:00:42.560 a fight between avi lewis and francois philippe champagne and it kind of indicative to the mood

00:00:47.520 of a lot of the canadians right now the day after the budget was dropped paul micucci

00:00:52.000 masters of your destiny jim no i think it's masters of our destiny here throw it up sandeep

00:00:57.840 we're gonna go masters of our destiny no i like the way abby lewis your masters of your destiny

00:01:05.600 or our destiny well and this is i'm avi lewis was echoing the feelings of a lot of

00:01:12.240 everyday average canadians how does this help me stamps now up to two dollars from 144 yeah where

00:01:20.000 where is my money i i'm not a billionaire investor i can't get tax relief on building a bunch of

00:01:26.080 fourplexes and triplexes how am i going to put gas in my vehicle it like a lot of the things

00:01:32.240 that they talked about in this this is all big investment a big money from around the

00:01:37.360 world hedge fund kind of stuff but to the average canadian it felt like they were ignored

00:01:42.560 well they did jim but you know it's interesting because they do such a great job you know i come

00:01:46.640 back again oh it's slick it's very slick you know it's i called it patriotic social phraseology

00:01:52.640 or patriotic propaganda because when you start off that even the title and then we joked about

00:01:57.520 masters of our destiny right yeah you know it's it's you expected that kind of that darth vader

00:02:03.040 voice you know with the masters of our destiny exactly right so you start reading wow a masters

00:02:10.800 of my destiny oh i got to read this right am i getting a check yeah because i couldn't use some

00:02:15.520 money exactly and then you go to one so there's five um sections to this budget there's for those

00:02:23.040 of you we're going to post it up after most of the stuff we that you're going to see here are

00:02:27.600 our notes with the actual budget uh graphs and some of the commentary that we're going to talk

00:02:34.080 about today so just straight from the budget yeah it's for the people watching and listening

00:02:38.240 we tried to whittle it down because it's such a massive document we're taking the highlights that

00:02:42.480 you need to know and trying to parse it for you because otherwise you would be there for weeks

00:02:47.440 trying to sort through it well we're gonna over the weekend go through the 520 it's 523 pages in

00:02:53.120 total and that's not including the other notes that go with it so we're going to go through a

00:02:57.760 lot of those over the weekend and we're going to subdivide it into kind of uh revenues expenses

00:03:03.200 uh capital expenditures so just so we get a feel for exactly based on last year's but you know the

00:03:08.720 brief we went through which is 50 pages almost um it split into five sections which i thought

00:03:15.200 it was very interesting the way they did so the first section position of strength you know the

00:03:19.680 way they put it second the right plan the third kenna's investment super cycle ah well that's

00:03:26.400 something we're going to touch on that i think a lot of people find very interesting their

00:03:30.320 definition of the super cycle not the ccm that i had in the 1970s no not at all and then uh supported

00:03:37.520 by the mega productivity deduction which was kind of funny because they were all trying to say

00:03:42.880 super cycle and mega productivity deduction yesterday and most of the politicians that

00:03:48.080 were on the the press conference were just making a mess of it right because too many words they're

00:03:53.360 too big and now they got to sell it to the canadians they need an acronym yeah because it

00:03:57.200 doesn't work helping canadians get ahead which well which is primarily about homelessness so

00:04:02.960 quite frankly we have a section in there which is helping canadians get ahead that talks primarily

00:04:08.960 about homelessness which i was like it's a noble yeah goal oh yeah there's no canadian that doesn't

00:04:17.440 see the unhoused and homelessness from coast to coast in big cities and medium small communities

00:04:23.040 however um the rest of us like what about the working class in the middle class what about us

00:04:29.040 a very quick favor before we continue a large percentage of you who watch or listen to tpl

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00:04:55.520 nothing keeps you informed so thank you now back to the show what was interesting you know after

00:05:02.160 when the attacks started happening on the budget yeah the the the liberals kept saying but it but

00:05:08.800 it's addressing homelessness so it was almost like you know how dare you question your question it's

00:05:13.520 addressing homelessness and i'm like that anyways that's section four uh section five canada's

00:05:19.600 strong and united which is interesting because it's kind of the catch-all section which actually

00:05:24.880 includes defense absolutely so now back up for a minute because this is interesting because

00:05:30.160 um october 26 the government dropped a document which we're going to talk about next week quite

00:05:36.220 a bit but it's an interesting document because it was a strategy of security for the country

00:05:41.580 and it was it touched on resilience and expenditures but it and defense and above

00:05:49.200 a bunch of other topics but it was kind of interesting because we read it and we're like

00:05:54.040 this is a nothing burger we couldn't figure out why they put it out and then it talked about them

00:06:00.360 coming up with further plans to develop the following areas including a huge investment

00:06:06.440 in ccist they announced yesterday exactly huge ai yes so now think about cyber crime so i was

00:06:13.320 trying to put myself in um you know the finance minister's shoes and in carney's shoes the prime

00:06:20.200 minister shoes and i was thinking to myself you're walking in and you know that the stock markets

00:06:27.160 oh are just crumbling at that point you know they've rebounded a little bit yeah today which

00:06:34.040 is great but you know there's this massive drop in the markets you know on the heels of the u.s

00:06:40.360 elections um world volatility is still a thing yeah you have all it's interesting we were driving

00:06:46.760 in this morning listening to a podcast on uh what the predictions are on the iran war and the

00:06:51.720 potential for you know the escalation of conflicts and ukraine as well and how that impacts ukraine

00:06:58.200 you're right jim yeah so we're you know you're you're hearing all these things happening and

00:07:02.280 quite frankly taiwan yesterday i was just reading an article um they actually uh stepped into their

00:07:09.320 market uh to prop back up their uh technology technology companies with a fund they had set

00:07:16.520 aside really to keep their market afloat so there's across around the world they're stepping

00:07:21.800 into this and they're presenting this budget and i'm thinking oh my goodness like this you know

00:07:26.840 they must be questioning you know they press print a couple days ago before yeah absolutely so they

00:07:32.920 have to go but they must be like i don't even know if this thing's relevant anymore but it parts of

00:07:37.960 it are and quite frankly a lot of it is stuff we've seen before so today what i wanted to do

00:07:43.080 jim yeah please let's do this i just want i think a lot of people watching this would like to go

00:07:46.920 through this yeah i just wanted to flip through so position of strength right so position of strength

00:07:52.280 primarily um what they they highlighted in the first slide as you can see here yeah they were

00:07:57.720 just talking about the fact that the uncertainty of the world so right now you know with everything

00:08:02.520 going in global markets protectionism there's a challenge to the economy and and the things that

00:08:08.200 we have on our side so you know we have educated people very educated which is which is positive

00:08:14.600 we have resources yep as you can see and and we have quite frankly uh you know they say a a dominant

00:08:21.960 ai sector i don't think we have a dominant ai sector i think that one's overplaying but no i

00:08:27.800 think just for clarification it's ai talent growth right and i think what they're saying is the the

00:08:34.040 computer science um geniuses out there at waterloo and some of the other schools are are top of the

00:08:40.760 best of the best however you're hearing all these stories a lot of them are being scooped up by other

00:08:46.040 tech companies around the world not just the usa so the challenge is yeah we have the ai talent

00:08:51.160 growth in canada but keeping them in canada exactly exactly tax competitiveness which i'm

00:08:56.760 going to talk about but we just created that so that's something that we and that's we when they

00:09:03.240 bring it up they don't talk about why and we're going to talk a little bit of it later but it is

00:09:08.680 really due to our lacking productivity in canada is why we had to actually stimulate that by

00:09:15.080 actually lowering taxes below pretty much everyone in the g7 uh from an investment perspective you

00:09:21.720 know why yeah because in his travels in the last 12 months going to all these hedge funds and

00:09:28.520 trillion dollar wealth funds and all these countries their one thing is i will invest

00:09:33.880 if dot dot dot so he got the message if he lowers that corporate tax rate and makes a tax

00:09:41.480 incentive a tax incentive worthy of putting their money into canada okay right now i can put money

00:09:48.360 there and barely pay any tax it's a win-win for me let's go we have to remember so having spent

00:09:53.720 time in britain and watch remember ireland absolutely you know ireland was decimated so

00:09:58.360 the only way ireland was able to kind of get people to reinvest was actually zero out tax

00:10:03.000 so that was one of the strategies and they had a massive boom they had but that's the only way

00:10:07.320 they were they were on death's door right so and quite frankly they did that by creating tax

00:10:12.600 strategies that brought people back he knew that you know he's well versed in it because of spending

00:10:17.000 time in the uk absolutely um they highlight you know the other thing they highlight quite a bit

00:10:21.480 in the budget is our potash production which mike just did a show on which is amazing uranium

00:10:26.120 production which is number two in the world hydroelectric which is number three and it could

00:10:30.760 be number two once churchill falls is at full capacity yeah well hopefully you know yeah

00:10:36.440 new governments we're going to see uh and oil production of course yeah right so we've always

00:10:41.080 been top five yeah we've always been top five now it's interesting then they go on so and they talk

00:10:46.840 about basically um thank you sandeep huh canada's billing okay so now okay now with this slide up

00:10:56.280 we should point out an hour before we started taping this uh stats canada the canada lost

00:11:02.120 4 700 jobs in october the employment rate is up to 6.7 percent so like yes there is some momentum

00:11:11.000 and fiscal strength but there's also some red flags popping up with inflation numbers and

00:11:17.240 unemployment numbers interest rate just went up yes and it's going to go up again correct yeah

00:11:22.220 now these aren't my numbers they're num they're numbers right yeah they're basically saying you

00:11:26.160 know canada's economy in the second quarter grew by 3.3 now the interesting thing about these growth

00:11:31.800 numbers on canada's economy and gdp and how we're looking at growth they're bouncing around by the

00:11:37.560 quarter and they're being readjusted so remember at one point we thought we were in a technical

00:11:42.660 recession and then they got bumped up to 0.1 percent growth yeah now they've been readjusted

00:11:48.100 again down today or yesterday so they're bouncing around a little they're trying to get a handle on

00:11:53.380 really what's happening out there because it's so fluid well with all the tariffs there's so much

00:11:58.080 stockpiling so they're trying to adjust and see how it's going so there's all these weird anomalies

00:12:03.020 that are happening in the marketplace so if you think about stats can they must have a heck of a

00:12:07.060 job because every time they ask a question they're like why did that go down so far up and then they

00:12:11.860 have to come up with the math to it right exactly so they're trying to figure that out um you know

00:12:19.060 the imf telling us that we're the second fastest growth pace in the g7 i i don't know quite frankly

00:12:25.860 i i kind of i want to ask you a question yeah because okay yesterday mark carney um in his

00:12:32.580 typical way kind of cut off a couple of reporters who asked him this question as he left parliament

00:12:37.700 hill canada continues to have the lowest net debt to gdp ratio in the g7 right now that's something

00:12:45.140 they keep championing like look at us don't look at the negative explain why maybe that's not

00:12:50.420 necessarily true yeah so if you look at the chart on the left so this is very interesting and i you

00:12:55.620 know shout out to the guys at uh fraser institute yes jim so and this is you know the devil's in

00:13:01.380 the details when you look at this so net debt um is basically uh it's the definition of it

00:13:12.340 includes pension assets in canada see now as an average canadian i i didn't know that right do

00:13:18.740 other countries do that no so you take a look at our uh cpp and qpp so that is included in our

00:13:27.940 assets when you come up with gdp to net debt so it's skewing the number and and so if you look

00:13:35.460 at that number it makes us look well it looks like we're the super economy it makes us look

00:13:40.180 at like we're the super economy but when you take the pensions out we drop to fifth place

00:13:45.300 right so we drop we drop behind germany we drop well we're behind france aren't we yes so we

00:13:51.380 dropped down quite a bit so there's only two there's only two nations i think italy and japan

00:13:56.420 wow um that we're ahead of so we dropped down substantially so it's really not um it's a it's

00:14:02.740 a misnomer i think it's a little bit of a optimistic view to take a look creative accounting

00:14:08.260 maybe um yeah i think they're putting a positive spin on it because quite frankly those pension

00:14:13.300 assets are are the uh assets or they're owned by the citizens they're not owned by the government

00:14:20.740 the government keeps them on their books as they manage them so there's a and they're the only

00:14:24.900 country that records them that way in the g7 so they don't get recorded that way from any other

00:14:30.020 countries so it's and you know when i read when i read the frazier institute uh grady monroe did

00:14:35.620 the study on it the report uh for those of you get a chance go take a look at it's really good

00:14:40.740 um it was interesting because i didn't know that and quite frankly that would make our total debt

00:14:47.060 as a percentage of gdp to be 113 yeah so we would drop to 113 if you take a look as opposed to nine

00:14:55.620 percent they have on the the screen and the reason i wanted you to explain that is yeah in the next

00:15:00.980 few weeks it's well known that carney and all his mps have a job to go back to their constituents

00:15:09.220 podcasts local papers radio shows tv and sell the budget and they're going to keep hammering away

00:15:15.940 at that well they did already and they actually in the scrum after but like they're gonna really

00:15:20.900 hammer away at it they kept going look at us compared to the exactly us but you know i'm just

00:15:25.700 throwing it out there that's that's not the in in my mind having read the frazier institute report

00:15:31.700 i think the better way to look at it is we're fifth well right we're fifth out of the g7 but

00:15:36.980 if they keep telling that enough canadians enough times they'll convince enough for them to sort of

00:15:43.060 get it through right that's my point so my my advice to them is and and also to other media

00:15:48.980 outlets is take a look at the definition and take a look and then you'll get it the other thing i

00:15:53.460 would actually uh caution everyone you know from 2015 to 2025 you know we increased our debt to gdp

00:16:04.260 by 27.8 percent wow so you know if you look at sajif remember so this is when we're comparing

00:16:14.100 ourselves we're comparing ourselves to g7 the g7 debt to gdp isn't necessarily a great benchmark

00:16:21.260 so if you look at the 40 developed countries the advanced countries um you know we fall way down

00:16:28.740 like we fall almost to the bottom of that list so when you know just because we're comparing

00:16:35.240 ourselves to g7 and quite frankly we think oh that's great these are the only developed countries

00:16:40.320 if you look at the 40 uh advanced countries we had the the third largest increase out of the 40

00:16:47.920 in those 10 years well then he had to gdp so we saw we saw this huge climb so we shouldn't be kind

00:16:55.440 of patting ourselves on the back that we've done really well here it's not something we've managed

00:16:59.580 really well but paul under their own numbers they said by 2030 the federal government will be facing

00:17:05.840 over 85 billion dollars in debt charges yes and by anyone's definition that is a staggering number

00:17:15.780 and it's going to eat up a lot of the government budget just to service the debt well you know

00:17:20.680 you're noticing now for example health care transfer payments and health care conversations

00:17:25.620 you're noticing mayors who've actually promised things in elections yeah are moving forward and

00:17:31.280 they're like and they're being told by uh premiers now no they're getting everyone's

00:17:38.600 trying to understand that there is no money left so for instance in brampton ontario they're

00:17:43.740 desperate for a second hospital yes and until if they don't get the funding there's no way they can

00:17:49.460 build a community that's like 700,000 plus people with one hospital a second hospital right and

00:17:57.340 that that's replayed all across the country now there there are mayors of certain communities

00:18:01.960 crying for an extra health care facility yeah but that and they're not going to get built because

00:18:10.260 what you're going to see in a minute they're not in the plan now they might be in the provincial

00:18:13.860 plan yeah but then the allocation of monies have to be for the super cycle of investments yes and

00:18:20.900 that's not included in it no because that's not going to have a return on investment exactly so

00:18:25.680 those are some things to keep an eye on um go to the the next one sandy but i just wanted to

00:18:30.660 flip through because these are when i one of these preliminary slides that are in the

00:18:35.100 the budget or the brief are actually dealing with that so uh canada maintains a strong

00:18:41.480 fiscal positions with one of the lowest oh that same thing right yeah deficit to gdp uh same thing

00:18:49.560 as we talked about it's a little bit of a misnomer when you actually redefine it all and put it back

00:18:55.160 in explain for canadians because we hear this term a lot paul bond yields yeah it's it's a good is it

00:19:01.960 bad because they hear the term and see the number but like most of them i'm like okay and well again 0.99

00:19:08.760 we're we're we're actually comparing ourselves to the g7 right seven who has an abominable record

00:19:14.920 for for uh uh you look at like a place like france who have had spending out of control

00:19:21.080 quite frankly us that is huge right yes their bond ratings continually going down so you know

00:19:26.360 we're comparing ourselves to a group of people a group that quite frankly isn't the premier group

00:19:32.120 in the world for cost management and debt management so when we have a rating that's

00:19:37.160 better than france per se and we get a better yield because we actually have a better rating

00:19:43.400 then we brag about it but that's not necessarily brag worthy exactly right okay that's that's what

00:19:49.080 because i think a lot of people's like okay well and then what well we do how does it help me we

00:19:53.960 do say we have a triple a rating still yeah quite frankly you know so that's what's saying but now

00:19:59.080 you know again we're we're going in this is the interesting part we're we're saying that but

00:20:03.480 we're walking into a room where the stock market is plummeting and even today i when i got up this

00:20:10.040 morning uh gold the price of gold was going down so this is going down there's almost every industry

00:20:18.120 that you can imagine was selling off today people were converting so they were converting to cash

00:20:22.760 they were converting to other assets so they were converting so it's interesting to see and you know

00:20:27.720 you can you can see different yields to where the risks are going quite frankly so as as ai's the

00:20:32.840 risk is tolerance is going down you're seeing the exit now you're seeing the exit out of some

00:20:37.320 commodities you're seeing the exit out of some industries that are correlated to technology i.e

00:20:42.840 chip providers here's a question for you so so many of these u.s states in the midterms basically

00:20:49.080 had no ai referendums yeah that passed you wonder if those tech companies who are desperate to have

00:20:55.400 the ai centers will turn to places like regina who are building one with bell and edmonton where

00:21:02.040 they want to build one with i think kevin o'leary is involved with one outside of edmonton and other

00:21:06.840 places and look at canadian communities and try to park their money there to build their ai centers

00:21:12.360 that have been rejected a lot of american communities well we are in a quest to uh 0.51

00:21:17.800 double or triple our power reduction maybe that's where they're going they are because it sucks up

00:21:23.880 a lot of power and a lot of water exactly so that and but you know you look at texas right now and

00:21:29.160 texas was a crazy you know the election results just overthrew the government at every almost

00:21:36.120 every level um texas was where the highest number of ai centers were being built and they were flat

00:21:43.000 out rejected it so they rejected it so now they're trying to figure out what's going to happen to

00:21:47.480 projects that have started haven't started are on the books funded but won't go forward so we'll

00:21:53.400 see i honestly wonder paul that if some of that money as we go to the next slide will end up in

00:21:58.040 in canadian provinces yeah um government expenditures of you know this is one that

00:22:03.000 popped up and and you know they've made we've heard recently about all the labor disruption

00:22:09.000 in the federal government so the layoffs even in the civil service yeah even the civil service

00:22:14.120 they're actually parks canada too just laid off a bunch of people exactly so when you see the

00:22:18.360 unemployment numbers now they're actually making a note and saying you know these are

00:22:22.440 x percentage of this are actually civil servants from the federal government so they're they're

00:22:27.240 actually highlighting they're still trying to uh and remember this was a knock on that when the

00:22:33.160 prime minister got into power almost 600 days ago yeah he took a government that was bloated and

00:22:39.560 quite frankly uh there were a lot of um reports about uh how high we were government spending to

00:22:46.520 gdp how high we were government spending to total expenditures of the country so this was a really

00:22:51.560 you know so he's he's trying to get that under control um you can see he's making a point that

00:22:56.760 they are working diligently to do that well and a lot of people felt that justin trudeau hired

00:23:02.040 too many silver servants too quickly yes and and bloated it to the point that it had to be reduced

00:23:08.840 yeah yeah i don't think they had a choice paul no they didn't well all the all the indicators

00:23:12.920 all the metrics were saying that yeah and and you know this is just a slide that actually shows that

00:23:19.080 he's made a significant turn on it he still has challenges you know you mentioned interesting you

00:23:23.880 You know, when you talked about a project that was going off for $12 million before the show,

00:23:30.760 and it was interesting, you know, they still can do better.

00:23:33.560 They can still find ways to cut costs and, you know, not spend money on, you know, crazy projects.

00:23:39.400 Buried in the budget, in the liberal budget, they plan to spend $12 million to create Justin Trudeau

00:23:46.440 archives of his tenure as prime minister.

00:23:48.820 yeah now i've written a few books non-fiction books in canada um writers who write non-fiction

00:23:55.020 canada don't make a lot of money they could do this entire project with three writers and a team

00:24:00.360 of researchers for less than two million dollars how it's taking 12 million i can't i can't figure

00:24:06.720 out if you were a writer right now and i gave you 250 grand and a series of writers each to work on

00:24:13.740 you would be i just won the lottery yeah that's unheard of i know i just don't know how they came

00:24:19.500 up with that figure and why it was necessary to spend 12 million on his archives well again you

00:24:25.580 know they're only showing us here the direct costs so quite frankly the direct program expenses and

00:24:30.940 you know when you look at the direct and the indirect that go into the budget those are where

00:24:34.460 all the fluff money that they have to go through yeah yeah and slash out um the second thing is

00:24:39.580 tax competitiveness i won't spend a lot of time on it i think you know i do give them a grade a on

00:24:44.860 that one they have actually gotten there they've worked quite hard at trying to be number one of

00:24:50.220 this they've actually made a real concerted effort paul they did they've done some good

00:24:54.860 a good job on this yeah um stock exchange so this is an interesting one they threw in the budget

00:25:01.900 brief which i thought was interesting so they talk about you know the toronto stock exchange has is

00:25:07.420 the as the third largest stock market in the g7 you know and i i didn't want to be critical but

00:25:15.020 quite frankly we did a show showing that you know the stock market uh the stock exchange had shrank

00:25:20.620 32 percent are we bigger than the nasdaq the tsx you know what i'll have to do a fact check on that

00:25:26.940 jim but i i because the nasdaq is pretty huge i don't think so yeah yeah i don't think so so but

00:25:32.620 you know that was a number they threw in i didn't fact check their number yeah but i do know you

00:25:36.620 know there it's been a it's been a declining the number of companies listed on the stock exchanges

00:25:44.140 in toronto have gone down significantly over the last you know two decades and initial public

00:25:49.420 offerings am i correct that it's a bigger there's more hoops to go through in canada to have an ipo

00:25:55.340 at the tsx than there is say in wall street or elsewhere and expensive right super expensive so

00:26:00.380 you're a startup company trying to get an ipo it's a struggle i mean that's that's something

00:26:05.420 that could be addressed to help that yeah but they really wanted to tell us that you know our

00:26:09.420 stock exchanges are that size then we had a minerals then they said listen where we always

00:26:13.580 talk about it you know this is our critical minerals these are we're a powerhouse on the

00:26:18.700 mining side and they put some numbers up i think they had it said 480 billion in valuation on

00:26:24.060 minerals it's an estimate so you know what does that include stuff that hasn't been dug out of

00:26:29.420 the ground yet i think so that's so if everything in a perfect world that's what it's worth yeah

00:26:35.100 and that's the one thing i took from a lot of the budget is if everything works out great and we get

00:26:40.300 all the oil shipped out and we dig up all the minerals and everyone and like all the ai and

00:26:45.020 everything works together we'll be okay there's really not a lot of margin that if there's bumps

00:26:50.300 in the road what happens then right and well and you know we're going to get into it when we get

00:26:56.460 into critical projects and we get into the other things what about some timelines like aren't we

00:27:01.340 passed so you know we're still showing pictures and putting lists of the projects we're working

00:27:06.060 on what about some completion timelines some milestones some revenue generation how much we

00:27:11.580 spent what the what the return for the country was what about starting to share some analytics with

00:27:17.260 us on what's going on on these daniel smith said she hopes to have pipelines built towards

00:27:23.500 this twin pipeline to vancouver by 2028 2028 that's that's like yes and then the ring of

00:27:31.260 fire uh road to access the mineral mining in far northern ontario they hope to have all those roads

00:27:37.420 ready 2029 2028 then you have to build up like so we're looking at two years here five years here

00:27:44.540 ten years here it unfortunately a lot of this stuff we're starting from scratch paul as a country

00:27:49.820 it will take time that's the super cycle right yeah that's the super cycle so they did highlight

00:27:56.140 the the fact that they think they're going to balance the operating see now that's right

00:28:00.700 explain that because we've never used that term in canadian politics before we started last year

00:28:05.660 yeah like so a lot of people still trying to wrap their head around it so we have just like a normal

00:28:10.540 business it's you know they've changed their accounting where they have operating expenses

00:28:15.340 not operating the operating books revenues expenses and they have capital expenditures

00:28:21.020 so you know this has been kind of the knock on by the opposition you know peer poly of you know

00:28:26.380 of course, you're going to meet your operating budget and you're going to balance that operating

00:28:32.000 budget. If oil and all the things that you mentioned, Jim, go, I guess, not well, but they

00:28:38.760 stay up, you're going to hit that. You're going to balance up. But your capital expenditures,

00:28:43.500 which are forcing up the debt to increase by $300 plus billion over five years, is on the

00:28:50.880 capital side so you're you know those are the items that are actually uh listed and then wrote

00:28:56.000 off over time or amortized well and then the capital expenditures they say clearly spending

00:29:01.120 government money to build that pipeline and especially that mckenzie highway to the arctic

00:29:07.400 ocean i mean you're looking at the scale of that as some of these government paid projects

00:29:12.040 that is a significant capital expenditure oh yeah just the raw material to build it but then

00:29:18.880 if you're good sandeep keep going because then you look at so this is interesting jim so

00:29:25.300 there's strategies now so then they get into the right plan so and what where we're going to focus

00:29:32.620 the money where we're going to focus the money so energy security food security economic security

00:29:38.560 national security all interlinked we are investing 140 billion to strengthen the foundations for a

00:29:45.960 secure and resilient Canada.

00:29:48.340 So we're putting this, so we remember from October 26,

00:29:52.140 they're still building these plans.

00:29:53.740 So this is where it got kind of complicated for me

00:29:56.480 around October when they put out that paper.

00:29:58.820 So these items are all there.

00:30:00.740 They've allocated money towards them.

00:30:03.000 They're still building plans.

00:30:04.580 They're still in, and that's why it's so important

00:30:07.280 to understand the super cycle, but here we go.

00:30:11.220 So, you know, energy, so the big one,

00:30:15.000 and energy and nuclear.

00:30:16.280 So the electricity strategy,

00:30:18.360 and then you have the nuclear strategy.

00:30:19.760 So 50 billion goes into the electricity strategy,

00:30:25.820 which increases jobs by 100,000 Canadians.

00:30:30.200 It almost doubles up our emissions, our electricity.

00:30:34.000 That it's key for this whole strategy.

00:30:36.360 They have to get the grid moving at a higher pace

00:30:39.640 to increase our productivity.

00:30:41.180 real quick even something as simple as making sure more small and rural communities have more

00:30:47.980 access to regular hydro because of canada the price of everything people are moving out into

00:30:54.160 more outskirt communities they need the infrastructure that they have in bigger cities

00:30:59.260 to function oh yeah of course jim yeah they they have to have a good power grid they have to have

00:31:04.540 wi-fi and cellular service and everything else that goes with it mike and i as we traveled across

00:31:10.420 the nation this summer you've noticed that we kept saying this this is a huge country like it

00:31:14.740 i i you know i know a map doesn't do justice i i know you know we we we all know it's the second

00:31:20.100 biggest landmass country in the world behind russia but uh when you actually drive it you

00:31:26.020 realize how big this country is and how barren it is in some places you get north of uh parry sound

00:31:32.340 there's a stretch of nothing to sudbury and then very little to the sue but when you leave

00:31:37.220 sioux saint marie to drive to thunder bay there is nothing yeah have you ever been up to kappas

00:31:42.980 casing no yeah there's a point where they tell you if you if you better get gas here because if you

00:31:48.820 break down there is a sign too as you leave the sioux yeah that there's no no gas at all for 225

00:31:56.020 kilometers or something yeah so you realize right away there's nowhere to stop so the big thing is

00:32:03.060 a national electricity strategy which is over 50 billion dollars as we talked about uh this is a

00:32:09.440 huge initiative that they're looking at and and they they definitely focus a lot on it the nuclear

00:32:14.780 strategy increasing doubling the labor force and you know more you know nuclear reactors small

00:32:20.780 nuclear reactors it's become they've got to the point now they can build a reactor the size of a

00:32:26.120 shipping container now and so i think for a lot of these um remote projects paul they're going to

00:32:32.940 use these small modular reactors these that they've condensed the size of basically um like

00:32:39.880 like i say a shipping container which is not that big put it and set it up in the far northern the

00:32:45.980 the nudavotte or far northern ontario for mining and whatnot for infrastructure and you have the

00:32:51.680 power grid right there instantly yeah to start building the housing and the infrastructure to

00:32:55.960 get people up there critical minerals 2.3 billion they put into it and uh diversification and

00:33:02.660 infrastructure projects 6.6 billion interesting so again these when we talk about these monies they

00:33:09.220 they they're still in the process of for the most part of developing plants and i think most

00:33:15.500 canadians you know when we get to talking about the the cycles and why they're doing it

00:33:20.220 we're not advanced in this because most canadians feel that with all the talk and all the slides

00:33:26.840 and all the slick commercials and all the social media posts that we're already doing stuff no no

00:33:31.760 this is you know some of it's happening but most of it's in its infancy developing a plan most

00:33:36.880 canadians i don't think are aware of that paul look at the pipeline you're talking about they're

00:33:40.560 talking about four billion dollars just to do the engineering on that pipeline yeah that's that's

00:33:46.880 how crazy it is so so again going back forest sector transformation strategy 6.5 automotive

00:33:57.920 an automotive 9 billion so we heard about this on the provincial level in ontario and on other

00:34:03.760 levels in bc during the elections um recently but this is a whole kind of rebuilding of those

00:34:10.000 industries inside canada based on the tariffs yep so not to make us so dependent on the us

00:34:16.560 um homes now this is an interesting one homes and we're going to talk about this one a minute but

00:34:22.000 44.7 billion dollars is going into this now this is so this is now this has tied to the immigration

00:34:30.560 strategy that ties to uh homelessness it ties to a number of indicators and things that go on that

00:34:37.200 they're doing this one concerns me i've been concerned about this one for a while i think a

00:34:41.520 lot of canadians are concerned paul it's a lot of money in our budget to go towards that and quite

00:34:45.760 frankly i know are they going to build the right kind of homes because i look at canada in the

00:34:51.360 1950s yeah all the bungalows they built in communities from coast to coast we're still

00:34:59.360 standing yeah two bedrooms one bathroom small home built for a small family and a little yard

00:35:06.320 and that was all people needed a lot of people raised families of four or five kids in those homes

00:35:12.480 i still think if they're going to start building stuff build stuff that people need we have so many

00:35:16.720 families in this country who are just a couple or one kid they don't need 5 000 square feet

00:35:22.560 they don't need six bedrooms they just need a small little place to call their own yeah i'm

00:35:27.440 with you jim you know we've done show after show on this and quite frankly you know they're they

00:35:33.120 want to do all this um density but but frankly there's a whole incentive for four plexus and

00:35:39.600 triplexes in the budget yeah so and that just keeps going and it ties into the foreign investment

00:35:45.440 strategy to get people to come in and to build those yeah which is actually increasing and i

00:35:49.920 think in 27 it actually goes off so people come in they don't need to actually live in them they can

00:35:55.440 invest them in them so that you know they're now kind of getting to the point where they want to

00:35:59.840 go to foreign investment for them to come in and build um densification inside of our communities

00:36:06.400 explain this to me paul so when they're saying 44.7 billion is the government saying they're

00:36:12.160 going to become the builder of this piece of crown land and build homes there and we're going to hire

00:36:18.400 the trades to do it builder and financer so so part of it is you know anna bayou has you know

00:36:24.320 that canadian build homes or yeah canadian homes so her you know mandate is to say almost half of 1.00

00:36:32.000 it is to actually go out and build structures and then the other part of it is for her to actually 0.69

00:36:36.800 get funding programs in place to help builders build structures so they're squeezing out some

00:36:41.280 of the well-known builders across the country by taking over but they're in a catch-22 because

00:36:47.600 you know with material costs and with the real estate market just it's not good it's worse in

00:36:53.520 vancouver than it is in drawdown well vancouver's in just free fall still you know their their

00:36:58.400 property tax now their property tax assessments are above their home values again what yes by

00:37:04.320 hundreds of thousands so quite frankly um that's another whole show about kind of what

00:37:10.080 happens at that toronto and vancouver have some real interesting road ahead to deal with the

00:37:15.680 issue because how do you keep charging people property tax on a property that there's no

00:37:21.440 similar value it's about that i bring it up because i mean i mean it looks great in paper

00:37:26.160 we're going to build tens of thousands of homes for people to live in you know canadians already

00:37:31.760 here new canadians oh great but there's it's such a complicated way of going about it i think it's a

00:37:38.320 lot more uh complex than it seems of a few paragraphs in the budget well you're altering

00:37:43.440 the market too so quite frankly yeah you're altering you're you're you know by stepping into

00:37:48.640 the market you're to your point you're impacting uh private developers private buyers you're doing

00:37:55.600 all kinds of things so when when you start to step in step into a market this heavy

00:38:00.720 at 44 billion dollars you're captivating the market at this point so now you are the you are

00:38:05.680 the the big developer in the room oh and so that has lots of implications and quite frankly people

00:38:11.200 who want to be in in free market systems most developers do will leave and go other places

00:38:16.800 where they can actually build outside of having to compete with government so that's that's a

00:38:22.480 a thought I never considered that actually would happen for a lot of them it will happen for a lot

00:38:27.280 of them so next one 3.2 billion national food security strategy so again we'll get into this

00:38:36.020 it's a lot about and I don't think this you know when I've started reading it and take out the

00:38:42.700 homeless piece when you get into the food processing and all the things that they should

00:38:47.100 be doing i think it's a decent idea so i think we've relied on food processing from the u.s for

00:38:53.520 so long that some of our critical foods we we don't make or we don't grow or we don't uh partake

00:39:01.540 in we we import them in so quite frankly it's then now saying okay we need to actually look

00:39:07.460 at our borders and look at what we're bringing into the country i think that's a good idea well

00:39:11.640 i am seeing signs in grocery stores in the gta where it says canadian carrots for for sake of

00:39:18.920 argument but then you look at it they're grown in the states and packaged in canada oh so i i'm this

00:39:26.760 is this is something i think because a lot of canadians because of their disgust for trump in

00:39:30.920 the 51st state when they go to a grocery store in canada are being hyper focused on buying canadian

00:39:37.000 goods in the grocery store that's their way of saying i'm gonna fight back against the us and

00:39:43.080 i mean it's it's all well and good but you think about the big companies loblaws sobe the metro

00:39:48.040 corporation they're massive profit making companies well it's interesting jim and in this

00:39:53.960 budget they talk quite a bit about actually opening up the market again so you know how

00:39:59.400 the market got monopolized by a few companies yeah they're they're trying to find ways to actually

00:40:04.600 incentivize small grocers to come back into the market now because they've all been like when's

00:40:09.240 the last time a new small grocer came around well it's you know olivia chow you know we saw in her

00:40:14.760 campaign she was saying she's going to try to find ways to actually help with rents for small 0.87

00:40:19.480 yeah uh food grocers so you get a you would get a break in the rent or taxes and maybe so maybe

00:40:25.000 the micucci lang market could come together and compete fruit market or yeah so you can buy your

00:40:31.000 fruit at a reasonable cost or your meat or your butchers so you know they're actually it's

00:40:35.480 interesting they're stepping in now or they're saying they're going to step in they're allocating

00:40:39.400 money to step in to help people um if you go to the next slide sandy you know it's interesting

00:40:44.920 and i won't spend a lot of time on these but you know some of them the and this was when i was

00:40:49.160 coming into the show you know we've i'm going to start off with ai they set aside uh 2.7 billion

00:40:56.360 and you know compared to what the u.s spends we've done shows on where the u.s like this is a drop in

00:41:02.740 the bucket this isn't even close to what the u.s spends for for ai ai it's isn't it like hundreds

00:41:08.060 of billions yes so this is like you know and so when we say we're into you know we're going to

00:41:14.100 help develop the ai market in canada or develop people we're going to if we want to be into it

00:41:19.200 we have to really look at it hard and say is you know if we're going to stay in that market or

00:41:23.180 going to exceed in that market or succeed in that market we really need to look at it again buried

00:41:28.220 in the in the defense strategy paul is the low line increase the share of defense acquisitions

00:41:33.500 awarded to canadian firms to 70 and i want to bring that up because canada just received their

00:41:39.980 first two f-35 stealth fighters yes and they're being trained in texas and they're all in rcf

00:41:47.420 markings and saab has said now to canada uh there's imp in halifax which is a manufacturing

00:41:54.940 aircraft manufacturing that they've designated the areas of the country where they will build

00:42:00.980 saab grippin fighter jets if you buy a whole bunch you're not just buying them we're going

00:42:06.260 to have them manufactured in canadian factories with canadian workers paying canadian taxes and

00:42:12.260 that would go to the 70 percent so they they keep saying they're reviewing the purchase of the f-35

00:42:18.000 right um i believe it's tied into the trade negotiations but donald trump has lost so much

00:42:25.160 of his muscle with the crushing defeat in the midterms i think the time is ripe for mark carney

00:42:30.660 to say you know what we're not going to buy 88 we're going to buy 42 right and then we're going

00:42:36.200 to get the rest from sod build them in canada and then that would help really go a long way

00:42:41.420 to the 70 percent and for those communities that have manufacturing that are building wings and

00:42:47.080 software and cockpits and then the final assembly at imp in halifax it's that's a game changer for

00:42:52.480 those communities it is jim and you know it's interesting they've had to set up a separate

00:42:57.360 crown corporation to try to deal with this issue right yeah so there's seven you know when i say

00:43:03.140 you know this super cycle there's 7.7 billion sitting here to be spent a lot of money quite

00:43:08.240 frankly they've had to set up a crown corporation that deals with procurement of defense quite

00:43:12.560 frankly because they've stressed the portfolio is so large you need a staff to to be able to

00:43:17.840 handle it and they've they finally addressed they finally acknowledge the fact that they need more

00:43:22.160 help which is i agree though which is positive so which is really good um you know if you moving

00:43:29.440 along if you look at it so now um oh get rid of the trade barriers i i i have to i was in nova

00:43:38.800 scotia a month ago they have some great beers i cannot buy them in ontario i have friends that

00:43:44.880 live in bc i can't buy wine from bc and that seems crazy with everything going on that we still can't

00:43:50.880 do that well so they keep telling us that there's 210 billion dollars of internal trade opportunities

00:43:57.760 here and they've been telling us for almost since we started tpl right but they've been unable to

00:44:04.880 unlock them since so you know this is kind of a catch-all they throw on the table all the time

00:44:09.520 and they say okay everyone's gonna we're gonna meet everyone's gonna get along we're gonna open

00:44:13.520 up the trade barriers we're gonna sign agreements with each other we're gonna open up our and it

00:44:18.000 doesn't ever really seem to come to fruition so you know this one's kind of a frustrating one

00:44:22.400 because it's time and time again we throw it on the table we actually get excited right but it's

00:44:27.520 a big number we talk about alcohol we talk about mobile uh production processing we talk about

00:44:34.080 packaging we talk about passport systems you name it we talk about all these things but we never

00:44:40.160 seem to be able to get across the finish line which you know it does as a nation it's a little

00:44:45.680 demoralizing because quite frankly we've talked about it so much it's hard to believe that we

00:44:51.440 can get so much foreign investment in but we can't figure out right inter-provincial trade

00:44:56.160 isn't this an easy win well this is a canadian to to unlock the provincial trade barriers but

00:45:02.480 think about you know countries argue over resources like water you think about america for a minute

00:45:09.120 you know they battle over like diversion of water systems yes especially from colorado nevada and

00:45:14.560 california we don't have those issues no yet we have a hard time trading with each other so we're

00:45:20.000 resource rich we have water we have minerals we have all those things but we have a hard time

00:45:24.080 opening up because everyone's hived off their piece yes and they don't want to share it's

00:45:30.020 ridiculous if you think about it go to a nation that has resource constraints you know you'll see

00:45:36.060 how much tougher it is this doesn't happen this is the equivalent of going to italy and i'm in 0.93

00:45:42.020 um venice and i can't buy wine from sicily yeah but that doesn't happen yeah oh i know it's crazy

00:45:48.580 skilled workers investing in workers and skills this is the one that you know they keep telling

00:45:54.060 us there's going to be a million open jobs coming up so with all these and and this is the Achilles

00:46:00.860 heel that no one talks about quite frankly all these programs all this capital investment all

00:46:05.740 this infrastructure where are you going to get the skilled people to do it and it's interesting

00:46:09.880 the number one thing as you can see you know when they look at the million people right away

00:46:14.540 they're saying yeah they need 450 000 industrial construction trades and you you've told me this

00:46:23.220 before and we've done shows about it a lot of the old school people in the trades are ready to retire

00:46:28.880 yeah they're done they've been doing it 35 40 45 years they're at their end yeah i just actually

00:46:34.320 it's funny i was just with my electrician i've worked with for like 30 years and he came across

00:46:39.520 he said some health problems but he just said to me you know i'm tapping out so you got to find

00:46:43.840 another i'm like i'm like andre you and i've been together for 30 years like where am i gonna he's

00:46:49.040 like yeah you know i'm done and i think that's that is a problem for mark carney and premiers

00:46:54.560 across the country is hanging on to the old school to pass on the knowledge to the new school yeah

00:47:01.200 but if we're gonna do that we have to be serious about doing it we can't we can't have these crazy

00:47:06.720 scandals that go with money going every listen if we're gonna try to bring people into programs and

00:47:12.000 train them we really have to try to train them because if we're going to keep just throwing money

00:47:15.760 at stuff and having the money well look what happened ontario with osap yeah it's a mess

00:47:19.360 right i mean that is a couple you know there's a couple programs that have just went totally off the

00:47:23.840 rails so but i think if you if you are going to countries around the world not just focused on

00:47:29.840 one nation and saying um bulgaria of scotland uh india west africa wherever and finding trades

00:47:39.200 people to come here i mean that that makes sense to me it does but good luck yeah yeah they're

00:47:44.720 really in demand you know it's interesting because i think they threw this in there as

00:47:48.880 just a catch-all saying you know there's three billion consumers out there that we can capture

00:47:54.160 across the nation if we hit all our goals sort of hit all our goals and quite frankly we've already

00:47:58.960 started reducing our dependency on the us and you know this is now these i haven't verified the

00:48:04.960 numbers but they're they threw in a graph showing how much better we're doing at selling to other

00:48:09.520 nations i think that's not necessarily a bad thing like it's like you don't want all your chips on

00:48:15.040 one hand you'd like to like you know maybe i'll hedge my bets in this country in that country

00:48:19.280 the interesting part is that when we did another show on trade which is where we you know this is

00:48:24.240 another layer we got to dig into we did another trade our biggest kind of our export partner

00:48:31.040 replacing some of our u.s trade was the uk i'm okay with that i'm okay with that but you know a

00:48:37.440 lot of that's financial institution a lot of it's you know but look at carney's background he ran

00:48:42.240 the bank of england he knows everyone who has money there exactly so a lot of it is kind of

00:48:47.280 money transfer investment funds so you know we just have to be careful that we don't we don't

00:48:52.000 get too over our skis when it comes to that so the next one oh thanks and thank you

00:49:01.040 investment super cycle yeah go back one for a minute actually they're all the super cycle

00:49:06.480 the super cycle this is not the ccm super cycle we got it like you know the three speed and you

00:49:11.440 have to pedal backwards to break and and you know it was interesting because this was brought up in

00:49:15.920 the scrum also and yeah the super cycle of investment so and what they were trying to do

00:49:21.280 and i think they were trying to educate the public and i think they're trying to even educate uh the

00:49:26.480 house the the politicians absolutely right because everyone's put it you know they're pounding the

00:49:31.360 table more and more and more i want it now but i think really and i i got it after i read it a

00:49:37.120 couple times i think why are they throwing this in here why are they talking about the super cycle of

00:49:41.040 investment they were trying to explain to people where we're at yeah right now good or bad you

00:49:47.920 know because the liberals have been in power rights you know for since uh well it's march of

00:49:55.520 2025 yeah no no but trudeau i was thinking the current administration 2015 2015 so 2015 um so

00:50:05.360 they've been in power since then and quite frankly you know a lot of this lays at their feet so quite

00:50:11.520 frankly but they're trying to say listen you know we're trying to shift and reshape the economy

00:50:16.720 given what's happened in the global you know the globalization changing and all these things we

00:50:21.760 didn't have much of a choice we kind of had to with the us and everything we weren't prepared

00:50:25.840 we didn't prepare ourselves very well we just became kind of lazy and shiftless to absolutely

00:50:30.560 i couldn't agree more um we need some capital inflows so quite frankly we got to look at and

00:50:35.920 that's why we're talking to you today about natural resources and labor and all the things

00:50:41.280 and then as we get those funds as we have more investment summits and we get money into the

00:50:45.520 country and we invest money as a country quite frankly we'll start to see the build out but what

00:50:50.160 they're trying to tell us here when you're looking at it they're actually saying that's a long process

00:50:55.040 like it and to your point jim that you made earlier this is a lo and it's a little bit i

00:51:00.720 we're getting the message more and more this is a long climb out so it's 2027 in a few months

00:51:06.800 so realistically you're looking at things happening in the late 2020s early mid 2030s

00:51:13.840 so 2029 to 2035 range 2030 yeah i'd look after 2030 just say you know what all these all these

00:51:22.480 things we're talking about today they're going to get there but they're going to get there and 1.00

00:51:26.720 you know this is a five-year you know you know how the chinese have like a century business plan or 0.96

00:51:33.040 century country plan they're kind of trying to start to prepare us for the fact that you know 1.00

00:51:37.760 there's got to be some patience here because this isn't going to and i know with me sometimes i'm

00:51:42.640 impatient but you know i i think a better job which we're going to look at later of giving us

00:51:48.500 updates would help and real quick i think a lot of frustrated canadians are saying the same thing

00:51:54.540 listening to you paul why didn't we start this earlier and like they knew like were they that

00:52:01.080 naive to think we shouldn't have improved our infrastructure built an extra pipeline built some

00:52:07.940 roads be prepared and that i think that's the one legacy of justin trudeau and when people look back

00:52:14.900 that where he was unprepared he didn't really understand there's some bad people in the world

00:52:20.420 and if things go wrong if you're not prepared then you get yourself in trouble and carney's

00:52:24.900 fixing a lot of the problems as quickly as they can but you're right it takes time but that's

00:52:30.260 that's where we're at right now they were unrealistic with respect to resources oil

00:52:34.260 natural natural gas 100 percent they just were not in the game right so and that's that's you

00:52:40.420 know been our achilles heel but you know uh basically he they threw it up and they said

00:52:46.180 listen we're we ranked uh second in the world for foreign investment which is good

00:52:51.860 and investors are increasingly choosing canada which is great yeah well i mean if he keeps

00:52:57.940 cranking the tax rate down for them and basically saying come here don't worry about tax stuff

00:53:02.900 just come here what do you need when do you need here's the land go for it that's all he's basically

00:53:07.540 saying if you have hundreds of millions or billions of dollars or hundreds of billions of dollars you

00:53:12.740 want to build a project here's the here's the geography here's the area go for it you got it

00:53:18.420 you got it so so then you know he did you remember so this is interesting because he did they do

00:53:24.980 refer to the fact that their summit so the summit wasn't it was okay you know it it was um laying

00:53:31.380 the groundwork more yeah it was their first summit because people thought there'd be these

00:53:35.620 profound announcements like well after six hours i'm convinced but it takes longer than that no

00:53:41.060 and they they did the bell saskatchewan center they did the airports yep so but well and it was

00:53:48.820 real quick there's um althea raj from the toronto star i want to give her a shout out to this she

00:53:54.260 pointed out there's more talk about privatization canadian airports on the budget and more talk

00:53:58.980 about privatizing other things in the canadian government as well yeah whether or not canadians

00:54:04.340 will agree to that or like that carney seems to think that that's a way to create revenue

00:54:09.780 like because you would yeah like i would buy this from you and then i would run it but that's

00:54:16.020 instant influx of cash yeah which right now with deficits and where he's at he needs he does need

00:54:21.620 some influx you know a lot of what we're again that super cycle that he's talking about he's

00:54:26.580 got to make it to the other side of the super cycle he's trying to act like we have this great

00:54:30.740 debt to equity uh picture but we don't but that the so as canadians when we go to major airports

00:54:37.540 in this country we had better prepare ourselves in the next few years that they will be privatized

00:54:42.980 yes yeah but you know and i think the summit was just where it started off with our banks and our

00:54:50.580 funds and everything it wasn't as much foreign investment as we hoped for but you know they're

00:54:56.100 saying we're trying and this was i think a slide they threw in to say hey we did it we tried it

00:55:02.100 and we're going to keep doing it and we're going to keep reaching out to pension funds from other

00:55:06.260 countries and other companies to put the money into canada now on the heels of the stock exchange

00:55:12.980 and everything going on and ai and the bust and everything that's happening fingers crossed we

00:55:17.300 don't hit it you know those might be resources that we won't be able to access so yeah that's

00:55:23.380 perfect world scenario again yeah yeah exactly um and then the mega deduction i won't spend a lot of

00:55:28.820 time because i'm gonna do another show on it but basically you get to expense your capital

00:55:33.620 expenditures as a company so and it applies to not only big companies but small companies

00:55:39.380 so i think this was pretty good they estimate 22 billion dollars of uh economic impact from it um

00:55:46.580 and uh there's the 10 year thing again 80 000 over 10 years but that's part of the super so

00:55:51.700 the yeah you know you start a deduction so you go out and remember you have to market that to the

00:55:56.100 world so you have to say to every business inside of canada every business looking at canada you

00:56:00.500 get this deduction that therefore your effective tax rate is down to 16 which is the lowest in the

00:56:06.660 country that's a whole marketing campaign that you have to do and keep doing paul it's november now

00:56:11.460 realistically that that's next year that's a next year thing right unfortunately because you just

00:56:16.500 did it now right it's not going to happen before the holidays so you're right you're looking at

00:56:21.140 next year but again i think they've been fair their progressiveness on tax planning i think is

00:56:26.500 good and tax uh strategy i think is probably they get an a plus on right now so and look if he's if

00:56:34.020 it's helping spur mega projects with mega deductions and gets things going that eventually

00:56:40.580 that could pay off yeah hey before we go any further please hit the subscribe button right now

00:56:46.260 if you want the raw debates the full uncut conversations you won't see here head straight

00:56:51.300 to tplmedia.ca subscribe and lock in your membership trust me you don't want to miss

00:56:56.440 what happens behind the paywall all right back to the show so you know it's interesting because

00:57:03.820 um they also throw and i'm going to do a show i'm actually which is really good i'm not going

00:57:08.480 to spend time on it today okay i'm going to bring a tax accountant in okay and i think i'm doing i'm

00:57:13.040 to do this for a number of reasons i think because again i i like what they're doing and so i think

00:57:17.520 what i want to do is i want to bring like luigi or one of the tax accounts and do a follow-up show

00:57:23.440 because the 6.4 now paul people like well what does that mean for canada and luigi or whomever

00:57:29.040 it is will really be able to explain it well and there's some really cool rollover strategies that

00:57:33.280 they put in so basically you can you can sell you can sell the property a business property and put

00:57:38.640 the money into another business property to avoid capital gains when you sell so like if you have a

00:57:43.760 bunch of businesses or a business and you're trying to liquidate it or sell it you know it's a good

00:57:48.000 way it's a good some tax planning that they've allowed now back into the country well this is

00:57:52.000 carney's background coming to pay off right now and it's very similar to what they do in the us

00:57:56.160 so i think it's important to spend more time on it um there's the tax there's the tax burden at

00:58:03.760 15.4 i use 16 all the time but again the united states is 21 and now we're down to 6.4 yeah

00:58:11.120 that's significant oh yeah it's quite a bit right but that's less than half of the us

00:58:15.600 yes so we've driven down so we've you know you can see it over time we've just stepped back right

00:58:21.280 the uk 30 percent oh yeah i know it's it's well and that's part of the challenges they're having

00:58:27.840 with their economy right now okay interesting driving investments productivity affordability

00:58:36.320 through competition yeah and these are a lot of these again i'm not going to spend a lot of time

00:58:40.800 on but these are shred programs these are clean energy credits and our growth incentives from a

00:58:46.800 tax perspective i think all good things i think we're doing a good job on simplifying and

00:58:51.520 streamlining streamlining it so i'm you know do commend that part of the budget uh and then

00:58:57.840 And, well, national energy, we talked about already.

00:59:03.140 That's where the major part of our capital spend is going.

00:59:05.980 So Canadians are wondering where the money is being spent.

00:59:09.540 Hydroelectric, nuclear energy, and other renewable energy sources.

00:59:13.080 Clean energy.

00:59:14.140 Yeah.

00:59:14.600 You know, and as far as power generation, we are the bomb.

00:59:18.900 And I mean that in a good way when you look at how much energy we produce relative to our GDP.

00:59:25.060 and then you look at uh energy versus gdp production and gdp in the country per capita

00:59:31.420 we're in the best quartile you can be in right now so we we have the most fresh water of any

00:59:36.660 country in the world we have massive hydroelectric capabilities and capacity and projects to go even

00:59:42.860 more we are world-class experts in nuclear energy production so this is where we can use it to

00:59:49.880 benefit us yeah so major projects i'm you and i've been through these yeah this is the list of major

00:59:57.140 projects whether it be lng phase two whether they be uh red chris mine expansion um you know they

01:00:05.700 have the rail on there uh they have all them on porter churchill porter churchill so this is you

01:00:12.580 know where they're at again the only comment i have on this and the only criticism i have is

01:00:17.520 it'd be nice to get updates and more information, milestones, targets, how money comes back to the

01:00:25.840 nation, where the money goes. They could do a better job showing us how the path

01:00:31.840 works back to us because we see these expenditures, we see the funding, we see the grants,

01:00:39.680 we see the loans, we see everything. Tell me how other than jobs we benefit as a nation.

01:00:45.140 because i look at the alto high-speed rail i mean if you are uh people have taken via rail or like

01:00:52.020 you know for a lot less we could just buy some new locomotives yeah go faster and save the country a

01:00:57.620 lot of money yeah there are other strategies definitely they're probably yeah which maybe

01:01:03.780 after don't don't forget this is in a huge planning stage yes there might be other strategies that

01:01:09.060 come out of that planning stage that say time out you know this isn't going to work well i and i will

01:01:14.100 say this real quick um initially the canadian government said they're going to buy 12 of those

01:01:18.740 german submarines and it came out in the last week they're going to buy eight with an option for four

01:01:25.700 so that gives them an out so the initial order will be for eight when the contract sign and then

01:01:31.380 they'll have an option for four more so that gives them the out that hey if the economy goes in the

01:01:36.260 tank and also our um we got billions of dollars in debt charges and we don't have the money we'll

01:01:43.380 have to stick with the eight until further notice because other companies do that when they make

01:01:47.540 big purchases and say we're going to buy 30 rail cars for the national railway then they go well

01:01:53.140 we're only going to get 20. we have an option for 10 more because we just can't afford it right now

01:01:57.620 right and so that's something i think is also we have to keep in the back of mind when we look at

01:02:03.220 this list yeah this this list a lot of it hasn't started yet or some it's just under development

01:02:08.180 in a perfect world everything gets built but that's that's not going to happen but yesterday

01:02:13.380 was a perfect world seeing the ai bubble bust right no so you know i'm sure you look at again

01:02:19.940 the number of things that happened in the last eight days it's insane you can't plan for that

01:02:24.660 no you can't plan um so this is interesting and you know this was unrolled a few months ago yeah

01:02:30.980 we haven't talked about it i think this is a great idea the canada strong fund yeah allowing

01:02:35.380 canadians to partake and i think it gets canada canadians uh involved in kind of the projects and

01:02:42.180 what's happening from an investment perspective you know the nor we talked about norway quite

01:02:47.540 a bit and you know the citizens of norway partaking in their wealth fund um i think

01:02:52.500 this is a great idea he's he's put 25 billion aside for it in the budget um you know and the

01:02:58.820 faster this kicks in and the faster this is going at a at a high level i think it's a great idea

01:03:03.940 yeah so basically it is rsp and tfsa eligible um so um so they're getting all the details uh worked

01:03:13.780 out but you're going to be able to put it into your investment fund yeah so it'll be part of your

01:03:19.140 portfolio buying these to invest back into the country so i think a lot of canadians like wait

01:03:24.340 a sec i want to support canada i want to be a proud canadian and help the country and it helps

01:03:29.700 my retirement yeah i i agree that's that's a smart thing i'm for this idea yeah definitely yeah

01:03:39.300 okay so now you know helping canadians get ahead so this is four out of five so this the we're

01:03:45.220 getting the final stretch here well okay this was part of the fight between champagne and lewis

01:03:50.980 with david cochran the wwe brawl in the hallway and a bunch of he's saying hey look what we're

01:03:56.500 doing and louis saying that's not enough yeah yeah and then you know i didn't love this i'll

01:04:01.700 be truthful i didn't love the last two uh parts of the budget you know the way they presented them

01:04:07.860 and quite frankly you know bragging that rents have gotten lower and that they have supports for

01:04:14.660 2500 for families of four and there's energy grants for people who are struggling with you

01:04:21.060 know heating your family of four that 2500 that goes pretty quick oh yeah that's your that's your

01:04:27.620 food right but i'm saying like that's roughly your food and a little bit of what for incidental so

01:04:33.220 but a month six weeks yeah it's for a month right but yeah yeah it's not a great it doesn't i mean

01:04:39.460 it's not that's the problem is that the price of food we talk about food insecurity it's not just

01:04:45.220 people um who are the unhoused it's families who with a couple both works struggling to pay the

01:04:52.580 groceries to feed themselves but you know when they do the super cycle and they talk about for

01:04:57.380 helping canadians get ahead i think they would have been better served by saying hey there is

01:05:03.060 going to be a gap and quite they never mentioned that did they no they don't they they're acting

01:05:07.220 like they're helping people get out but these aren't people that are getting ahead these are

01:05:10.340 people are surviving so i think i think yeah i think this is not well this out of all the you

01:05:17.060 know uh social uh propaganda that they put or phraseology yeah um political social uh phraseology

01:05:26.580 i think quite frankly probably the not a good i would have changed that one if i had to do the

01:05:31.940 budget again i would have just been really upfront with people and saying we're working on it these

01:05:37.300 projects are going to take this much time through the super cycle and quite frankly we're going to

01:05:42.180 have to put these supports in place because a lot of everyday average canadians are looking

01:05:46.100 at all those numbers and go wait a sec well look at you know you just hit it right right on the

01:05:50.340 head jim you know sandeep and i were getting ready for the show canada's groceries and essentials

01:05:54.980 benefits and the top number is the number of people who partake in it 12 million over 12

01:06:01.380 million greater than 12 million people jesus that's a big number yeah and i was you know

01:06:07.140 my god yeah that's worse than i thought so you know they're they're they're basically uh help

01:06:13.060 you know they're suspending uh fuel tax they're they're providing grocery benefits you know all

01:06:20.580 the things that are on that list child uh canadian child benefits you know the number of people

01:06:26.820 they're supporting or that there is quite a bit yeah i like i like for instance something like

01:06:31.780 the canadian student loans and grants we have a huge problem in ontario where the premier doug

01:06:37.700 ford switched the phraseology to it was it went you could get more grants and loans now you can

01:06:44.420 get a fraction yeah of grants the rest all loans and then they have an osap freeze because there

01:06:50.740 was a scandal involving private career colleges and there was a there was 40 paramedic students

01:06:56.420 who are going to work as paramedics in the far north in areas that were desperate for it that

01:07:00.820 had to drop out because of the career college they were taking their paramedic training

01:07:06.020 basically they got suspended so for if we're asking people to get trained to be trades you

01:07:12.340 do have to go to school to be learn how to do a trade oh yeah you don't just show up like okay

01:07:16.740 i'm gonna weld now you're gonna be a paramedic right right like you need proper training and

01:07:23.140 this is where as a government we're like hey we're going to help you get you through school

01:07:28.900 so you can be a welder a paramedic a psw whatever it is yeah no i agree jim and but you know i was

01:07:35.460 shocked at some of the programs and it was very interesting um same so same slide really just

01:07:42.100 shows the the level i look and i i would love to see a day where there's no homelessness in this

01:07:48.900 country and nobody's unhoused but that is easier said than done that's gonna be very difficult

01:07:54.900 we're putting 11.2 billion towards homeless yeah in this budget yeah this budget is allocating that

01:08:00.900 much money and it's it's it's it's unfathomable that we let it get this bad it really is hard

01:08:06.820 to believe but it is you see it you know when we were you know uh plan on dawn when he got in you

01:08:12.100 know he he said it right away he said in montreal when uh char and i my wife and i drove through

01:08:18.660 montreal this year on our tpl yes we were we were our jaws dropped going into the city the

01:08:25.700 number of encampments we were driving by like we were like and then when we got into the city the

01:08:30.420 number of homeless people on the corners we were like oh my goodness because i hadn't been to

01:08:34.420 montreal for a few years and and it was interesting to to see the change paul it's coast to coast yeah

01:08:40.340 downtown halifax edmonton you can go to any city now for for god's sakes apparently carny

01:08:45.860 his drive from where his residence is to parliament hill he's driving by 10 cities

01:08:50.820 oh yeah in ottawa in ottawa right now yeah and and you know this is you know it wasn't that long

01:08:56.580 ago that was unheard of oh yeah so this is the reality the country's facing yeah something has

01:09:02.340 to be done and i'm not against it i'm just saying it's going to be a very difficult challenge for

01:09:06.740 the government to pull it off yeah it is it is but they've allocated quite a bit of money for it so

01:09:11.140 let's see um again we're back to electricity and heating so quite frankly you know they've they

01:09:16.980 realized that they have to get people and they have to get heating upgrades heat pump they're

01:09:21.060 back to the heat pumps again exactly so i have uh my brother-in-law my sister in nova scotia

01:09:26.500 got the heat pump they use an incentive of nova scotia and they love it yeah it's been great for

01:09:31.300 them two billion dollar incentive they're putting aside yeah they're putting quite a bit of money

01:09:35.380 into it well they're trying to get people off of the old oil furnaces and the old baseboard heating

01:09:40.980 yes so

01:09:45.780 again homelessness as we talked about yeah really it's interesting um and then quite frankly dwellings

01:09:52.420 as we talked about earlier too so just you know they're they're constantly trying to get you know

01:09:58.020 part of the challenge of the homeless road that people got to go through is you got to eventually

01:10:03.940 move them you know into a shelter and then from a shelter get them some employment and you got

01:10:08.900 to get them into affordable housing like it doesn't stop at the 11.2 billion is only part of

01:10:13.780 it the housing equation and so that's that 40 billion dollars part of a big part of that 40

01:10:19.060 billion dollars is to address part of that is the homelessness and where when they do get uh you know

01:10:25.620 they from addiction centers and they do get off the street and out of shelters it's starting to

01:10:30.740 get them back into that you can go to a a small or medium-sized town in canada to get a decent

01:10:36.740 apartment like 1500 if you're lucky oh yeah yeah well they were saying that's not cheap

01:10:41.780 2000 was your right yeah that's the average yeah exactly like to think about that 2000 a month

01:10:48.820 yeah no i know um so then the you know final so the you know this is some of the stuff so

01:10:54.260 canada strong is kind of their catch-all yeah it includes defense which is interesting so it's it's

01:10:58.820 got canadian film media journalism cbc so it's kind of got a catch-all of a bunch of things if

01:11:05.780 you're under 25 in canada you can visit a national museum for free year-round yes i i think that's a

01:11:11.700 good thing they kept that going yeah yeah um and you know a lot of national culture you know almost

01:11:18.260 a billion dollars uh revitalizing recreational facilities 800 or 680 million uh journalism tax

01:11:26.580 credit they have 501 million i've never seen any of that money no no i know no i know you

01:11:32.580 i've been doing this for decades i've never seen a penny of it yeah uh strengthening 300 million

01:11:38.580 dollars strengthening cbc radio canada cbc slash radio yeah yeah yeah yeah so now the real quick

01:11:46.020 on the rec facilities what they're doing in canada that i think is really smart they're using that

01:11:50.900 money to build multi-purpose facilities it has a room for uh fitness classes yoga and pilates

01:11:57.540 it's got a rink it's got a pool it has a pickleball court it might you know it has so it's not just a

01:12:04.180 rink when they say that it's rec facilities that can be accessed uh 12 months a year with different

01:12:10.740 facilities different sports for everyone for different ages and it benefits the community

01:12:15.300 especially for health and health care yeah no i think it's true listen in these times we're gonna

01:12:20.260 have to do like i think it's important the government put money aside because as things

01:12:24.580 get tougher for people and you got to remember these are the facilities that deal with the

01:12:29.220 children and the kids yes who are looking for places here yeah to stay off the street yeah and

01:12:34.260 have good lives this is the the stuff we need to pay attention to and they have proven time and

01:12:39.460 time again that if kids have somewhere to go and something to do yeah and in the social skills of

01:12:44.900 you know playing an activity or a sport with others it benefits them yeah it really does

01:12:49.940 um you know again quite a bit of money for heritage uh safeguarding our oceans you know

01:12:57.620 they put significant uh really really good stuff um first nations so the big money for first nations

01:13:04.660 big money right big money a lot of it over 10 years so a couple billion dollars a year so they

01:13:09.060 have an infrastructure fund they're still having which i i really can't think clean water clean

01:13:13.860 water is always in a weird thing to me in the fact that they every year after year budget after

01:13:19.380 budget they put in clean water funds i just so i know for this in the canadian military

01:13:25.780 the combat engineers when they go to a remote area when so whatever the troops are deployed

01:13:31.140 they have a system to purify water yeah what i don't understand why can't they set that system

01:13:37.780 up and some of those remote reserves in canada we have it in the military and we use it when

01:13:42.820 they go to foreign countries all the time to purify water i don't know why we can't buy more

01:13:47.780 of them and put them in these places that need clean water i don't know jim i can't either tell

01:13:52.260 you the truth it just it drives me a little crazy but it's always in there um housing 12.7 billion

01:13:58.900 dollars over 10 years so they they continue and other initiatives so they have a bunch of other

01:14:05.060 initiatives uh across the nation from the policing uh you know monetization pilot they have yeah so

01:14:15.700 there's a bunch of uh small projects but they they they add up right so it's a big country

01:14:21.620 it's a big country but that's uh you know almost five billion dollars that they've allocated yeah

01:14:27.780 um and then you know the indigenous programs this is interesting so on top of that they have a loan

01:14:33.460 guarantee program and we just saw it with the nuclear reactors so and it's big money it's like

01:14:38.820 10 billion dollars uh and it allows um the first nations or indigenous groups uh to participate

01:14:46.980 in different projects so you know bc alberta whether it's oil um darlington even i didn't

01:14:53.140 realize that yeah taro and nuclear yeah so you know good on them you know it's a good so to

01:14:59.380 resolve the issues they have with first nations and indigenous people make them partners make them

01:15:04.100 partners ride loan get you know they're basically they're they don't get money out until the loans

01:15:09.540 are repaid um you know find ways to get them to participate in a in a useful manner and and i just

01:15:15.940 don't see a downside to that i agree i agree um this one well this is yeah this is nato defense

01:15:24.500 right so this is the big one that you know getting our two percent of gdp up to well they had he they

01:15:32.340 had thrown out five percent right by 2035 i do believe that's will be ambitious i don't see a

01:15:39.780 scenario where this country ever gets to five percent i mean it has become a monumental increase

01:15:45.620 in defense spending to get where we are now getting to three percent i don't think a lot

01:15:49.940 canadians realize how much money we will have to spend to get to three percent well yeah you know

01:15:54.660 it shows us actually here jim getting 20 30 just getting to four oh yeah it's a huge number and

01:16:01.220 and the problem is for most canadians they'll be looking at these numbers and shiny new stealth

01:16:06.500 fighters and you know destroyers and all this equipment like wait a sec i need a new hospital

01:16:11.620 like i i need food i like it so that's the balance in canada yeah you know with health care

01:16:16.660 education social services and they're like why are we spending all this in the military that's

01:16:21.940 going to be part of the selling process yeah when they started actually uh again during the budget

01:16:27.460 and the when they were uh they rolled it out they started talking about the fact that because of our

01:16:32.820 fracture with the us we have to actually build a military now they have to sell it though oh yeah

01:16:37.700 and this is you know uh if you actually go you know this is you know as we see this is you know

01:16:44.020 a naval uh as you mentioned you know air ground these like these are the things we have to do

01:16:50.740 that we don't have now submarines like all the things that we have to put together it's amazing

01:16:56.500 and this is something we just got to keep investing in thousands and thousands of people

01:17:01.620 we need to recruit train deploy this is something we're not used to and you know i i still think

01:17:07.940 canadians are grasp trying to grasp with it jim and i think that's a little bit of a struggle

01:17:12.580 because quite frankly um i don't know if they're going to get there uh well i mean we've seen

01:17:18.980 examples after example just making a simple decision for a simple purchase is never easy

01:17:24.420 in the canadian government the red tape and and i know that's one thing mark carney has been quite

01:17:29.860 frustrated like to try to get from point a to point b and buy something simple it's hard right

01:17:35.780 but as you know as he's trying to keep uh you think about it he's trying to get these projects

01:17:40.900 going he has this super cycle to go through so he has this long time build canadian he's trying to

01:17:46.020 build canadian and then he's trying to get the military to get going on their expenditures recruit

01:17:51.060 people yeah but you got to get that it's it's like a pump you gotta get that turning and you know

01:17:56.740 you got to get it siphoning and it's taking a while it's taking a while to get off the ground

01:18:00.580 and so yeah you know that's why they're trying to do a significant amount of money and then quite

01:18:05.060 frankly building safer communities there's you know drug trafficking anti-fraud um you know the

01:18:11.300 social media act all the things they put money aside to actually uh roll out this year um which

01:18:17.940 is interesting it's stuff that's passed and they're allocating funds for the timing of this

01:18:21.860 is interesting a few days ago um a 12 year old boy in hamilton was charged with assault there

01:18:29.140 was a member of the cadets who was supervising cadets selling poppies who oh yeah the gentleman

01:18:36.180 there was a fracas got knocked down kicked he's in a hospital can't move right now a 49 year old

01:18:42.180 woman's been charged as well i mean as canadians you see those stories and no matter who you are

01:18:48.020 you're like this is this is sickening and and the home invasions and the carjackings and you're like

01:18:55.140 is my son or daughter safe when they go out with friends and that is one thing as canadians from

01:19:00.500 coast to coast no matter where you live is a concern paul it is a concern and you know jim

01:19:06.020 they put money aside from it i think it's good on our so we have a couple shows coming up as i

01:19:11.380 mentioned for the viewers earlier on uh we're going to dive a little deeper into the revenue

01:19:16.260 items yes some of the challenges with perfect the revenue because you know it's one of the things we

01:19:20.820 don't talk about a lot in canada we assume it you know we know income tax we know corporate tax yeah

01:19:26.180 we know all those things but we don't talk about it a lot and we don't talk about where funds do

01:19:30.100 flow into the country we're going to talk about that we're going to take some of these programs

01:19:34.020 i wanted to unroll them and thanks for hanging with me today please um i want to unroll them

01:19:38.820 and actually do more work on actually applying dollar values to each of them because in the

01:19:44.020 budget it does uh detail out where the monies are allocated for for the plans so i'm naive enough

01:19:52.180 still to believe that as a country we can do good things we can build things we can grow we can

01:19:59.620 protect each other and i believe this is the challenge for carney in his inner circle with

01:20:04.820 the old school ottawa politicians because this is how they've always done it and they're always

01:20:09.540 looking at you know and so he's trying to force a square peg into a round hole to get things done

01:20:15.780 and and that's i'm and i'm you know i'd love to be able to speak to him off the record privately

01:20:20.580 and ask him a couple things about here and there because i can his eyes are all like i just it's

01:20:24.980 so frustrating and it has to be frustrating for someone who's worked in banking and worked in

01:20:30.180 hedge funds to try to do things and be you know have to go through all these layers and and just

01:20:35.860 to to do things that's going to help us right now yeah well i agree with you jim and i think

01:20:40.580 listen there's always things they can do better i think you know on our every show we do we we

01:20:44.660 recommend something new something different sometimes they listen sometimes they don't

01:20:48.340 something don't but you know this budget i think overall it does send a message uh to all of us

01:20:55.140 and it is that you know we're we are where we are now it's going to take us some time to get out of

01:21:00.500 it quite frankly they're trying to put plans in place to kind of crank the system and get our

01:21:05.700 productivity but it won't happen overnight it's not going to happen overnight i think that's the

01:21:09.220 clear message for me reading the budget this time versus last year which i think i i probably got a

01:21:14.660 little uh every time you read it you become more educated up to speed on what they're doing and it

01:21:19.540 it became very clear to me now it's like oh it's gonna this is a longer climb than i thought and

01:21:25.380 i'm so you know my probably my patience with some of the plans now uh is i'll be more patient

01:21:31.300 because quite frankly i i do understand that coming out of the budget i i think they did a

01:21:35.700 good job some things i would change but we're going to break down those numbers um and uh

01:21:40.820 please stay yeah tpl media tplmedia.ca uh like and subscribe as always and your comments about

01:21:47.460 the budget and how it helps or hurts you are greatly appreciated.

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True Patriot Love - November 08, 2026

Carney’s 2026 Budget： Who Really Benefits？｜ Part 1⧸4

Episode Stats

Transcript

True Patriot Love - November 08, 2026

Carney’s 2026 Budget： Who Really Benefits？ ｜ Part 1⧸4

Episode Stats

Transcript

Carney’s 2026 Budget： Who Really Benefits？｜ Part 1⧸4