Mel Hurtig Says Foreign Investment? No. Foreign Ownership And Control? Yes!

Posted on Tuesday, October 18 at 10:13 by Anonymous
Fewer that 13% of takeovers were reviewed by the Review Division. Not a single takeover was rejected. Bear in mind, that however appalling the above figures are, much of the money used by non-residents to take over the thousands of companies came not from outside Canada but from our own good old patriotic Canadian banks and other financial institutions in this country. No one in the Department of Finance, in the Bank of Canada, in the PMO or Privy Council Office, NO ONE in Ottawa knows just how much of the takeover of our country is financed in our own country with Canadian savings. My own educated guess is at least 65%, but it's probably higher. They don't know because thet don't care to find out. So, remember, when the CCCE, the Howe, the Chamber or whoever pleads for more foreign investment in this country, the facts, year after year after year, are clear. They are in fact welcoming the increased foreign ownership and control of our home. Only in Canada . . . Mel Hurtig Vancouver, October 17, 2005 [Proofreader's note: this article was edited for spelling and typos on October 20, 2005]

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