Canada growth fund: Last month, Bill C-32 was introduced in the House of Commons. It seeks to implement certain provisions recently announced along with previous measures from the spring budget. The liberals are chanting that the Bill will bring relief to Canadians who have suffered extremely due to the Covid-19 lockdowns.
But, along with this , something else is also coming to Canada . It is the Canada Growth Fund.
The Canada growth fund, which was announced in the federal budget for 2022, is about to get implemented through Bill C-32, which is currently in its third reading in the House of Commons. And what’s more surprising is that this growth fund is especially focused on the ‘climate agenda’.
A Climate fund
According to a media report by the Counter signal, Chapter 2 of the budget document states that “Canada will need between $125 billion and $140 billion of investment every year” due to “climate change” and for the federal government’s commitment to create a net-zero economy by 2050.
According to an article by the Financial Post, the Canada growth fund will invest in clean-tech companies and other companies across low-carbon supply chains. All this is intended to “stimulate institutional investment in innovation and green projects with risky economic foundations.”
Stressing the importance of the fund, Finance Minister Chrystia Freeland, in an interview had stated, “We are launching the Canada Growth Fund, which will help bring to Canada the billions of dollars in new private investment required to reduce our emissions, grow our economy, and create good jobs at the same time”
Currently, between $15 billion to $25 billion is invested annually in the climate transition. However, if Canada growth fund is created, Canada will allocate more than $100 billion for the climate agenda.
Though Freeland fell short of specifying how Canada will acquire this money, the leaks of Bill C-32 answer it all.
Canadians will pay
As per the drafts, it appears the recent administration will pass the buck to average Canadians.
As per the Canadian Growth fund, Canadians must “invest” billions of dollars every year in the Canadian “Growth” Fund, which will increase to a staggering $140 billion every year by the year 2050, to combat climate change.
With a population of 38 million, the annual cost of the tax would be $3,684 for each Canadian, or approximately $11,000 to $14,700 or more for each household.
The burden would cost the current and following generations of Canadians between $3.3 and $3.7 trillion, or roughly $100,000 per person if it were to be imposed annually until 2050.
So, how the financial hardships which will be endured by Canadians would be equivalent to “making their lives more affordable” is still unclear.
Canadian taxpayers would be spending over $100 billion on more Trudeau’s Liberal climate initiatives. This will occur at a time when it’s possible that Canada will experience a recession and when the average Canadian already struggles to make ends meet on a daily basis.
No doubt, the Liberals have completely lost their minds in blindly achieving their unrealistic climatic goals. Now, it looks like the “migrant-heaven” is no longer a feasible place even for its own citizens as the inflation is bound to increase here day by day and the government is just adding salt to this.