{"id":7167,"date":"2026-09-14T12:55:04","date_gmt":"2026-09-14T16:55:04","guid":{"rendered":"https:\/\/communist-party.ca\/?p=7167"},"modified":"2026-09-14T12:55:06","modified_gmt":"2026-09-14T16:55:06","slug":"carneys-investment-summit-auctioning-sovereignty-and-independence","status":"publish","type":"post","link":"https:\/\/communist-party.ca\/fr\/carneys-investment-summit-auctioning-sovereignty-and-independence\/","title":{"rendered":"Carney’s Investment Summit: Auctioning sovereignty and independence"},"content":{"rendered":"
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The Communist Party of Canada condemns the Carney government’s Investment Summit, taking place September 14-15 in downtown Toronto. This event is not about defending Canadian sovereignty, as the government claims. It is a brazen auction of Canada’s public assets, natural resources, and infrastructure to the highest bidder.<\/p>\n\n\n\n

The Carney government secured a parliamentary majority with only 27 percent of eligible voters supporting it. Despite this narrow democratic foundation, it is pursuing a sweeping agenda of privatization, deregulation, militarization, and labour-rights rollbacks. The summit is central to that project.<\/p>\n\n\n\n\n\n\n\n

The guest list reads like a who’s who of global finance: Blackstone president Jon Gray, BlackRock CEO Larry Fink, Barclays chief executive CS Venkatakrishnan, Saudi Arabia’s Public Investment Fund, and Temasek Holdings CEO Dilhan Pillay. Together, these and other attending financiers oversee roughly $120 trillion in assets. Stephen Harper, Canada\u2019s last Conservative prime minister, will give the closing remarks to the conference, symbolizing the political unity of the ruling class behind the Carney agenda. The stated goal is to attract $1 trillion in investment over five years to offset the $1 trillion in foreign capital flight that occurred over the past decade.<\/p>\n\n\n\n

The Carney government presents this summit as a strategy to diversify investment and reduce reliance on the U.S. market in the face of American trade hostility. The narrative is that by courting global investors, Canada is protecting its sovereignty from Donald Trump. Leaving aside the fact that some of the biggest investors and the largest contingent from any particular country will be from the U.S., the summit is in practice eroding sovereignty rather than defending it.<\/p>\n\n\n\n

The projects being auctioned off are central to Canadian independence. Provincial and territorial governments have submitted a list of potential investments, and the Prime Minister’s Office is compiling a final “deal book.” According to media reports, the list includes the Port of Churchill in northern Manitoba, with plans to expand rail connections from the Prairies to the Arctic and turn it into a year-round deep-sea port. Also on offer is the Churchill Falls and Gull Island hydroelectric project, which Carney has called the largest clean energy investment in North America. Other items include oil and gas development, critical minerals, and data centres. The general direction of this economic strategy is to develop the war economy, further integrating Canada into the US-NATO war machine.<\/p>\n\n\n\n

Capital does not invest without expectation of return. To deliver profitability, much of this “deal book” will require privatization. Carney has already signalled this with airports and, during his time as a Goldman Sachs executive, he was involved with the privatization of Hydro One in Ontario.<\/p>\n\n\n\n

Many of the potential projects are located on Indigenous territories. The government’s push to expedite permitting and reduce regulatory review time raises serious concerns about the adequacy of consultation and Indigenous nations’ rights to free, prior, and informed consent. When corporate monopolies gain control over resource development, Indigenous land rights and ecological safeguards are treated as obstacles to profitability rather than legal and inherent rights.<\/p>\n\n\n\n

While Carney is paraded in the corporate media as “Captain Canada,” his policies are not fundamentally opposed to those of the Trump administration. Both governments are responding to the same global capitalist crisis. This explains why Carney has adopted several “Trumpian” measures: sharply increasing military spending, rolling back environmental and Indigenous rights, using Section 107 of the Labour Code to break strikes, and pursuing deregulation and privatization. He has even rolled back the inadequate tax policies of the Trudeau government on corporations and the wealthy, including planned increases in capital gains taxes and the digital services tax. His government is reviewing core federal labour standards, a process trade unions must mobilize against.<\/p>\n\n\n\n

The contrast between the government’s priorities and the needs of working people is stark. Ottawa is committing $150 billion annually to military spending within a decade, while cutting 40,000 public sector jobs. These cuts fuel privatization. As our public services become more and more anemic, the political case can be made more easily for the \u201cnecessity\u201d of privatization.These services can then be provided at a greater cost by private providers in order to pad corporate profits further. Corporate profits reached a record $677 billion in 2025. The bottom line is that the Carney government is making working people pay for the tariff crisis through austerity and privatization.<\/p>\n\n\n\n

If the Carney government were genuinely committed to defending Canadian sovereignty, it would be reducing foreign corporate influence over the economy and expanding public ownership. Instead, it is pursuing “asset optimization” and “asset recycling,” shifting risk to working people while guaranteeing profits for private firms. This is the same playbook as Carney\u2019s \u201cCanada Strong Fund\u201d announced earlier this year. The fund, seeded with $25 billion of public money, is a vehicle for subsidizing private investment and transferring public wealth to corporate monopolies.<\/p>\n\n\n\n

The Communist Party of Canada calls for a genuine alternative that would break with U.S. imperialism and the power of corporate monopolies. Canada should withdraw from the USMCA and pursue mutually beneficial trade agreements that benefit working people. Key industries, including auto manufacturing and steel, should be nationalized and placed under public ownership and democratic control. A major investment in social housing and public infrastructure would address the housing crisis while creating jobs. Employment Insurance should be expanded to cover all unemployed workers at 90 percent of previous earnings for the full duration of unemployment. Plant closure legislation should require corporations to justify closures before a public tribunal with the power to stop the closures. Canada should leave NATO and NORAD and pursue a foreign policy of peace and disarmament, starting with standing up for Cuba against the vicious U.S. blockade, and condemning the Israeli government\u2019s genocide of 73,000 Palestinians since 2023.<\/p>\n\n\n\n

Defending our sovereignty and independence means rejecting corporate rule, whether it comes from foreign powers or from within Canada. It means building up the unity and joint action of the labour and democratic forces in opposition to this fire sale of Canada\u2019s rich natural resources, the attack on Indigenous rights set out in international law, and in support of prioritizing the needs of working people and the planet over corporate profit. Carney’s Investment Summit is a step in the opposite direction, and it demands our strongest opposition.<\/p>\n\n\n\n

Central Executive Committee, Communist Party of Canada<\/em><\/p>","protected":false},"excerpt":{"rendered":"

The Communist Party of Canada condemns the Carney government’s Investment Summit, taking place September 14-15 in downtown Toronto. This event is not about defending Canadian sovereignty, as the government claims. It is a brazen auction of Canada’s public assets, natural resources, and infrastructure to the highest bidder. The Carney government secured a parliamentary majority with…<\/p>","protected":false},"author":1,"featured_media":7019,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[34],"tags":[],"class_list":["post-7167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization"],"_links":{"self":[{"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/posts\/7167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/comments?post=7167"}],"version-history":[{"count":1,"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/posts\/7167\/revisions"}],"predecessor-version":[{"id":7168,"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/posts\/7167\/revisions\/7168"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/media\/7019"}],"wp:attachment":[{"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/media?parent=7167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/categories?post=7167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/communist-party.ca\/fr\/wp-json\/wp\/v2\/tags?post=7167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}