Hub Podcasts Carney's 'nation-building projects': Cutting red tape or picking winners?
Nov 14, 2025
Rudyard Griffiths and Sean Speer dive into the implications of Mark Carney's new major projects list, arguing it reflects a misstep in Ottawa's economic strategy. They highlight that financing, not regulation, poses the primary barrier, critiquing the government's reliance on subsidies that may distort market signals. The discussion also touches on rising economic discontent among younger Canadians and the potential for a 'bourgeoisie revolt.' As they consider Pierre Poilievre's style amidst economic anxiety, they question the relevance of Carney's technocratic approach.
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Intervention Over Regulatory Reform
- The Carney government is favoring intervention over regulatory reform by selecting projects that need financing rather than fixing approval delays.
- That approach risks overriding market signals and prolonging investor uncertainty instead of enabling broad-based construction.
Subsidies Can Mask Market Warnings
- Rudyard Griffiths warns that subsidizing projects ignores market signals that capital markets use to price risk and viability.
- He argues that taxpayer-funded financing raises questions about returns and shifts risk onto future generations.
Pipeline Omission Undermines Energy Claims
- The absence of a West Coast pipeline undermines Ottawa's claim of making Canada an energy superpower.
- Without Tidewater access, Canadian producers keep receiving lower spot prices at the border.