Canadian Political Musings

Income Trusts employ over 250,000 people in Canada. A large junk of those jobs could be in jeopardy should the anticipated foreign buying spree of the trusts come to fruition. Although the proposed sale of Great Canadian Carbon Income Fund* should not have any significant impact on Canadian jobs since most of its people are employed outside Canada, other Canadian based income trusts may not fair so well in the weeks and months ahead.

I highly doubt Finance Minister Flaherty gave much consideration to the loss of jobs when he conjured the excuse to kill existing trusts. This should not come as a surprise coming from a man who ran for the leadership of the Ontario Conservative Party a few years ago on a platform to jail homeless people.

*Canadian Press, Globe and Mail, February 5, 2007