Trudeau’s day at Davos
Prime Minster Justin Trudeau spent Friday at the World Economic Forum in Davos talking about debt, free trade and what he tells his daughter about feminism.
‘GOING TO STICK WITH THAT’
With the Bank of Canada waiting to see his fiscal plan, Trudeau stressed his budget will reduce the debt-to- GDP ratio (currently at 31 per cent), but offered few clues on what he’ll do to cushion the impact of falling crude prices. Nor would he say how heavily he was willing to spend to spur growth or when in March the Liberals will present their first budget. “One of the things I’ve said for a long time is that being fiscally responsible as we invest in the future of our country is to ensure that we continue to reduce our debt-to- GDP ratio,” Trudeau said, when asked if he will ramp up spending. “That’s something I’ve committed to and we’re going to stick with that.”
CETA STILL A GO
Trudeau will sit down with the head of the European Parliament on Saturday to push for more foreign investment in Canada. The PM will meet European Parliament President Martin Schulz as officials work to finalize a Canada-Europe free trade agreement started under the previous Conservative government that could mean billions for Canadian companies. The final text of the deal on goods and services, known as CETA, will go before the European Parliament by mid-2016. The only impediment to ratification could be a dispute-resolution process for investors that disagree with government decisions. Trudeau said Friday he was optimistic the deal will be done. “This is an important opportunity for Canada and Europe and I’m looking forward to getting it signed,” Trudeau said.
FOREIGN INVESTORS WELCOME
The Liberals plan to work with national and international companies to create jobs domestically, Trudeau said. “Our government understands that global trade and foreign investment are key drivers of economic growth and important sources of new jobs. This will be a key priority for us,” he said during a luncheon speech Friday. He has used his time at the summit in the Swiss Alps to take part in the networking that goes on during the forum and meet the heads of multinational companies, including billionaire Jack Ma, who founded Asian e-commerce giant Alibaba. The two talked about how Alibaba could help scale up small, online businesses in Canada. In chatting outside the meeting room, Ma said the business markets in China and Canada are changing, making space for a new way of doing things.
MEN CAN BE ‘FEMINISTS ’
Trudeau was invited to take part on a panel discussing gender parity along with Melinda Gates and Facebook COO Sheryl Sandberg in part because of the gender parity in his cabinet. He said that before he was able to produce a cabinet with equal numbers of men and women, his party did a lot of work on social media and through email to encourage women to run for Parliament. He said he personally convinced some women to run, including Toronto MP Chrystia Freeland, now his minister of international trade. He took aim at people who questioned his selections and argued that cabinet posts should be based on merit, not quotas. “Once I displayed the cabinet, nobody talked about merit anymore.” Trudeau said that his wife, Sophie, pulled him aside a few months ago and told him it was great he was telling their young daughter that she is equal to boys, but he also had to stress his attitudes to their two sons, so they “grow up to be a feminist, just like Dad.” Concluded Trudeau: “We shouldn’t be afraid of the word feminist. Men and women should use it to describe themselves anytime they want.”