Government Policy Discourages Investment

November 8, 2024

At the Finance Committee during pre-budget consultations, Greg questioned Terry Rock, CEO of Platform Calgary (a technology incubator hub) and David Clarke of the TMX Group.

Mr. Rock confirmed that Calgary is “on a roll” in attracting new technology startups, but ever changing government policy (such as the increase in the capital gains tax) discourages investors who seek certainty over a long period. He also noted they resist applying for niche programs (which the Liberals seem to love) and would prefer a stable, flexible financial environment in which they can confidently make long term decisions.

Greg also began questioning David Clarke of the TMX group who confirmed changes such as the capital gain tax are not helpful in attracting investors. That questioning continues in the second clip.

In the second round of questions, Greg attempted to get David Clarke of the TMX group to comment on how government policy (such as the capital gains tax and oil and gas emissions cap) affects investment and prosperity in the oil and gas industry.

TMX is, of course, owned by the federal government after too many hoops and too much red tape provoked the private sector to walk away. Mr. Clarke does his best to avoid criticizing his employer but can’t bring himself to commend the policies.

Greg also returned to Terry Rock in this segment, who confirmed that the increased capital gains tax is an impediment to investors who expect to receive their return on investment in the form of a capital gain years down the road.