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CBC
20-06-2025
- Business
- CBC
How could Canada's pension fund invest more at home? Finance committee chair wants to know
Social Sharing Canada Pension Plan managers face the prospect of hearings by the House of Commons finance committee after MPs learned that only a small fraction of the public pension plan's billions of dollars of assets are invested in Canada. Liberal MP Karina Gould, the newly elected chair of the committee, said it is important for the CPP to be managed effectively but she would like to know why the fund that provides retirement benefits for most Canadians isn't investing more in the domestic economy. "It is concerning," Gould said Thursday. She said she wants to understand why so little is invested in Canada and how the public pension fund could not only "bolster the Canadian economy, but also support Canadians and their pensions." Gould said the committee will be busy holding pre-budget consultations and examining Bill C-4, which includes a tax cut for Canadians. However, if committee members agree, she said hearings into the Canada Pension Plan could take place in the fall. "In this economic moment that we're in, it's really important that we have an understanding of, you know, where our pension funds are investing," Gould said in an interview. "It's definitely something that could be of interest to the committee." Gould said committee hearings could also look at the CPP's mandate and whether it should more closely resemble the double mission of the Caisse de dépôt et placement du Québec — the province's public pension manager that is charged with both making money and investing in Quebec's economic development. "It's an interesting question to explore," she said. Gould's comments come after the Canada Pension Plan Investment Board (CPPIB), also known as CPP Investments, revealed that just 12 per cent of the CPP's assets are invested in Canada — its lowest level ever. The largest chunk of its $714-billion fund, 47 per cent, is currently invested in the United States — its highest level ever. The revelation has raised questions about whether the CPPIB should be investing more in Canada while the country is in the midst of a trade war with the U.S. Those who support the high level of investment in the United States by the CPP, including the CPPIB itself, argue the plan's mandate is to make money. They argue U.S. investments offer more diversity and higher returns — which help ensure the plan will be able to pay out benefits for years to come. Others, however, question why the plan isn't doing more to invest in Canada to create Canadian jobs and infrastructure projects. They are also concerned about the plan's exposure to the U.S. at a time when President Donald Trump's administration has made the country a riskier place to invest. Like Gould, the NDP's interim leader leader and finance critic Don Davies was surprised to learn that the CPP's investment in Canada had dropped to 12 per cent. "I think it's alarming. I mean I think it's only 12 per cent of, you know, such an incredibly large fund of monies that are paid by Canadian employees and Canadian employers," he said. While Davies says the fund is well managed, he wants the government to review the CPPIB's mandate. "I personally think [the mandate] should be expanded to also include development of the Canadian economy," he said. "There's no shortage of projects that will strengthen our economy and also give good returns to workers and employers," Davies said. "I think Canadians would be surprised to learn that their own pension monies are being used to invest in other countries in such a vastly disproportionate way than in their own country." Davies said he would welcome hearings on the issue by the finance committee, of which he is not a member.
Toronto Sun
16-06-2025
- Business
- Toronto Sun
Liberal MP Gould gets key committee chair, while NDP frozen out of spots
Published Jun 16, 2025 • 1 minute read Liberal House Leader Karina Gould speaks to reporters in the foyer of the House of Commons in West Block on Parliament Hill in Ottawa, Ont. on Monday, Sept. 16 2024. Photo by Bryan Passifiume / Postmedia Network OTTAWA — House of Commons committees are taking shape for this session of Parliament with a top spot for Liberal Karina Gould and no representation at all for New Democrats. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Gould, the MP for Burlington, was elected to chair the influential finance committee for this session of Parliament, with Conservative Jasraj Hallan and Jean-Denis Garon of the Bloc Quebecois named as vice-chairs. Gould, who ran for the Liberal leadership earlier this year, was left out of Prime Minister Mark Carney's cabinet despite being a key player in Justin Trudeau's team. Read More Most other committees have yet to vote on a chair, though Liberal MPs have been tapped to lead the industry and technology and the transportation and infrastructure committees, as well as the standing committee on procedure and House affairs. Conservative John Williamson will lead the standing committee on public accounts — precedent dictates that this chair is selected from the Official Opposition. The NDP has been shut out of parliamentary committees this session after failing to secure official party status in the spring federal election. RECOMMENDED VIDEO Toronto Maple Leafs Columnists Toronto Maple Leafs Canada Toronto & GTA
CTV News
16-06-2025
- Business
- CTV News
Karina Gould gets key committee chair as NDP is frozen out
Liberal MP for Burlington Karina Gould will chair the House of Commons finance committee for this session of Parliament. Gould speaks with media as she makes her way to a caucus meeting on Monday, March 10, 2025 in Ottawa. THE CANADIAN PRESS/Adrian Wyld OTTAWA — House of Commons committees are taking shape for this session of Parliament with a top spot for Liberal Karina Gould and no representation at all for New Democrats. Gould, the MP for Burlington, was elected to chair the influential finance committee for this session of Parliament, with Conservative Jasraj Hallan and Jean-Denis Garon of the Bloc Québécois named as vice chairs. Gould, who ran for the Liberal leadership earlier this year, was left out of Prime Minister Mark Carney's cabinet despite being a key player in Justin Trudeau's team. Most other committees have yet to vote on a chair, though Liberal MPs have been tapped to lead the industry and technology and the transportation and infrastructure committees, as well as the standing committee on procedure and House affairs. Conservative John Williamson will lead the standing committee on public accounts — precedent dictates that this chair is selected from the Official Opposition. The NDP has been shut out of Parliamentary committees this session after failing to secure official party status in the spring federal election. This report by The Canadian Press was first published June 16, 2025 The Canadian Press
Global News
16-06-2025
- Business
- Global News
Liberal Karina Gould gets key committee role as membership takes shape
House of Commons committees are taking shape for this session of Parliament with a top spot for Liberal Karina Gould and no representation at all for New Democrats. Gould, the MP for Burlington, was elected to chair the influential finance committee for this session of Parliament, with Conservative Jasraj Hallan and Jean-Denis Garon of the Bloc Québécois named as vice chairs. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Gould, who ran for the Liberal leadership earlier this year, was left out of Prime Minister Mark Carney's cabinet despite being a key player in Justin Trudeau's team. Most other committees have yet to vote on a chair, though Liberal MPs have been tapped to lead the industry and technology and the transportation and infrastructure committees, as well as the standing committee on procedure and House affairs. Conservative John Williamson will lead the standing committee on public accounts — precedent dictates that this chair is selected from the Official Opposition. Story continues below advertisement The NDP has been shut out of Parliamentary committees this session after failing to secure official party status in the spring federal election.
Toronto Star
16-06-2025
- Business
- Toronto Star
Karina Gould gets key committee chair as NDP is frozen out
OTTAWA - House of Commons committees are taking shape for this session of Parliament with a top spot for Liberal Karina Gould and no representation at all for New Democrats. Gould, the MP for Burlington, was elected to chair the influential finance committee for this session of Parliament, with Conservative Jasraj Hallan and Jean-Denis Garon of the Bloc Québécois named as vice chairs. Gould, who ran for the Liberal leadership earlier this year, was left out of Prime Minister Mark Carney's cabinet despite being a key player in Justin Trudeau's team. ARTICLE CONTINUES BELOW Most other committees have yet to vote on a chair, though Liberal MPs have been tapped to lead the industry and technology and the transportation and infrastructure committees, as well as the standing committee on procedure and House affairs. Conservative John Williamson will lead the standing committee on public accounts — precedent dictates that this chair is selected from the Official Opposition. The NDP has been shut out of Parliamentary committees this session after failing to secure official party status in the spring federal election. This report by The Canadian Press was first published June 16, 2025. Politics Headlines Newsletter Get the latest news and unmatched insights in your inbox every evening Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. Please enter a valid email address. Sign Up Yes, I'd also like to receive customized content suggestions and promotional messages from the Star. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy. This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Politics Headlines Newsletter You're signed up! You'll start getting Politics Headlines in your inbox soon. Want more of the latest from us? Sign up for more at our newsletter page.
