Canadian Financial Markets
Canada remains a global leader in banking, pension funds, insurance, financial institution and capital markets regulation, supervision and oversight.
But we need to do much more to become a hub for global finance, investment and fintech.
According to Z/Yen Group, a consultancy, Toronto, Montreal and Vancouver all ranked in the top twenty global financial centres in 2017. Only the US and China surpassed us.
The TSX was the world’s eighth largest bourse by market capitalization in spring 2017. Canada’s banks continue to be among the world’s soundest. The success of our pension funds has given them a disproportionately high global profile.
But there are risks ahead. Aggregate debt levels in Canada remain stubbornly high. Real estate markets in several centres have reached unprecedented peaks, fuelling growing fears that speculation has artificially inflated prices. Canadian venture capital markets and fintech adoption remain relatively weak. Above all, decreasing levels of business investment and foreign direct investment in Canada point to a loss of vigour in Canada’s growth story, made more acute by a worsening fiscal position.
As Conservative Leader and Prime Minister of Canada, I will seek to:
(i) ensure Canada continues to set the highest standards for macroeconomic, banking, financial institution, pension fund, capital market and real estate regulation, supervision and risk management, and to advocate such standards through the G7, G20, IMF, Bank for International Settlements and Financial Stability Board;
(ii) work to promote and enhance Canada’s status as a stable, reliable, innovative global financial hub welcoming investment, innovation, research and talent across our financial, capital market and fintech sectors, as well as Canadian partnerships with financial regulators and market players in all parts of the world; and
(iii) give Canadian clients, Canadian startups, businesses and exporters access to excellence in financial services from retail banking and venture capital to all forms of seed, startup, growth, trade, debt and equity financing.