A retrospective look at commentary from the first quarter of 2025 in the Financial Post's opinion section reveals a sharp focus on the forces reshaping Canada's political and economic environment. From global voter sentiment to domestic policy critiques, FP's columnists provided pointed analysis on the issues defining the new year.
Political Sentiment and Policy Critiques
In early January, columnist Terence Corcoran challenged the mainstream narrative surrounding global political shifts. He argued that labeling movements as simply far-right or populist misses the core issue: a widespread public desire to curb the power of progressive authoritarians who have dominated policy-making for decades. Corcoran contended that dismissing this voter desire fails to address the genuine sources of discontent driving electoral changes around the world.
Fellow columnist Matthew Lau turned a critical eye to a Canadian institution on January 9. He posited that the Competition Bureau's primary customer is Ottawa, not the Canadian consumer. According to Lau, the Bureau secures its budget and influence by pleasing federal politicians through high-profile actions against businesses, rather than by demonstrably improving consumer welfare. He described "frivolous investigations, complaints and litigation" as the agency's stock-in-trade.
Economic Warnings: Pensions and Productivity
Pension security emerged as a major concern. On January 10, Jack Mintz warned of risks to the Canada Pension Plan (CPP). He criticized the federal government's fall economic statement, which used subsidies to encourage pension plans to invest in politically favoured projects like AI data centres using green energy. Mintz cautioned that if such directed investments lead to poor performance, the workers and employers who fund the plans will bear the losses, stating emphatically: "Workers beware!"
William Watson highlighted a stark contrast in government efficiency on January 20. He noted that the United States, with a population 8.8 times larger and a GDP 11.2 times greater than Canada's, functions with only two-thirds the number of federal cabinet officers. Watson wryly observed that while Canadian productivity is known to be lower, this disparity in ministerial ranks was "ridiculous."
Looming Trade Wars and Policy Prescriptions
The spectre of trade conflict and its potential impact on Canada was a recurring theme. Terence Corcoran returned on January 15 with a blunt prescription for escalating global trade tensions: unilateral free trade. He presented this as the singular escape route from a worsening "trade war quagmire."
Jack Mintz elaborated on the potential damage on January 24, analyzing the concrete effects of U.S. tariffs on Canada. He predicted reduced demand for exports, capital flight due to uncertainty, a shift of Canadian business operations south of the border, and a declining Canadian dollar. While a weaker loonie might soften the blow for exporters, it would increase import costs. Mintz's conclusion was clear: Canada loses by not negotiating.
The quarter's commentary also included critiques of influential figures. On January 17, Corcoran examined former Bank of Canada governor Mark Carney's book, Value(s). He noted Carney's alignment with climate activist Greta Thunberg, quoting Carney's reflection that her "How Dare You!" speech made him conscious of "misplaced priorities" and the urgent need to act.
This collection of opinions from the first three months of 2025 paints a picture of a commentariat deeply engaged with issues of economic sovereignty, government overreach, and the practical consequences of policy decisions for Canadian workers and businesses.
