Mr. Chair, the consensus of economists, experts, investment firms, and private sector proponents is that Canada is getting obliterated with respect to its competitiveness. Even last week, the president of ATCO said:
...governments in Canada “are busy” bringing in “multiple and compounding policies and regulations” that are “layering considerable costs on businesses and individuals alike, undermining the confidence of investors, eroding the attractiveness of our industries and weakening the confidence of the public.”
It goes without saying that in our increasingly globalized economy, capital flows will continue to seek certainty.
In 2016, the energy sector accounted for approximately 10% of Canada's GDP, but the Bank of Canada predicts new energy investment in Canada will decline in 2018 and then drop to zero the next year.
Given the importance of energy investment to the Canadian economy, does it concern the finance minister that Canadian energy investment is dropping dramatically, which is a fact? Specifically, what measures in the federal budget will stop energy investment from leaving Canada?