Carney's approach under fire
Prime Minister Mark Carney should reject top-down big government and pivot to sound policy, according to Peter Brown, founder of Canaccord Genuity, in a Financial Post opinion piece. Brown argues that Carney's government, which turned an elected minority into a questionable majority, lacks a mandate for its "New World Order" that moves Canada away from the United States toward Europe and China.
Friedman's wisdom
Brown quotes economist Milton Friedman: "A society that puts equality before freedom will get neither. A society that puts freedom ahead of equality will get a high degree of both." He urges Canadian governments of all stripes to heed this lesson.
Restoring U.S. ties
Brown emphasizes that strengthening ties with the U.S., which receives approximately 70 per cent of Canada's exports, must be a top priority. He notes that on July 1, both governments will begin reviewing the Canada-U.S.-Mexico Agreement (CUSMA), calling for common sense to prevail despite differences between the Carney and Trump administrations.
Consolidation of power
The opinion piece criticizes Carney's consolidation of power in the Prime Minister's Office, describing him as a "top-down stakeholder capitalist" with contempt for Parliament—citing his absence for more than 100 days in his first year. Brown points to the Building Canada Act, which established a "Major Projects Office" to fast-track projects deemed in the "national interest," arguing that instead of cutting red tape, Carney granted himself and his cabinet new powers to approve or reject projects based on personal preferences.
Alarming legislation
Brown warns that Parliament recently passed multiple bills without reasonable debate, including elements of censorship, reductions in privacy rights, and threats to religious teaching and expression via Bill C-9. He says these should alarm the entire electorate.
Broken promises
On the campaign trail, Carney promised to break from Trudeau-era policies that left the economy sputtering, the federal government deeply in debt, and the country divided with separatist sentiment in multiple provinces. Instead, Brown argues, Carney has doubled down on big-government, big-spending, top-down approaches that make Canada less attractive for investment and more expensive to live and work.
Call for change
Brown concludes that it is time for Carney and his cabinet to return home, focus on fighting recession, and restore global investor confidence. He insists that sound policy and prosperity are unequivocally linked, and the government must learn this lesson.
