WATCH: Freeland Called Out For $2 Billion Being Spent On Non-Existant Corporation

Written By Wyatt Claypool, Posted on January 11, 2023

Earlier in December, 2022, it was reported by multiple outlets, originating from Blacklocks Reporter, that Liberal Finance Minister and Deputy Prime Minister Chrystia Freeland had designated $2 billion dollars to be spent on buying shares in a corporation that does not currently exist. 

In the 172-page Bill C-32, An Act To Implement Certain Provisions Of The Fall Economic Statement, $2 billion was earmarked to be spent on buying non-voting shares in the Canada Growth Fund (CGF) dedicated to the promotion of green technology. 

The Bill reads: 

The minister of finance may acquire and hold on behalf of His Majesty in right of Canada non-voting shares of a corporation.

Apparently, Freeland is establishing a new corporation out of nowhere in order to manage this new massive sum of money, but no Act exists that would lay out the duties and limitations of such a corporation. This is very different from what the Bill stated, which would give the Canadian public the impression Freeland was purchasing shares in an already established green tech investment firm for the Canadian government. 

What is most baffling of all is how Freeland seemed to completely fold when pressed for details about the $2 billion when the Senate was studying the bill. 

Senator Elizabeth Marshall, the former Auditor General of Newfoundland and Labrador, questioned Freeland who only responded by reasserting that the $2 billion investment is necessary and complementing Senator Marshall for her detailed analysis. 

Unfortunately, this questioning of Freeland took place on December 7, 2022, and although it should have been clear to all the Senators that this $2 billion put towards a Canada Growth Fund (CGF) is completely irresponsible, it was still passed due to the sheer number of Liberals in the Senate. (Liberal Senators take on titles such as the “Indepdent Senators Group” or “Progressive Senate Group” to appear less overtly biased to the left).

Oh and by the way the CGF will have little to no public oversight on what stocks the corporation buys and sells, and will be given a total of $15 billion in initial capital when it starts operating sometime in 2023. 

Based on the way the CGF is laid out (ie. vague details only and no transparency) it just looks like a massive taxpayer-funded scandal machine.

Let’s be real, the Liberals already have a habit of granting sole-source contracts to friends and former Liberal MPs so why wouldn’t they fund their friends’ green tech firms through the CGF.

Wyatt Claypool

Wyatt is a student at Mount Royal University, where he is the president of its Campus Conservative club. In his writing, he focuses on covering provincial and federal politics, firearms regulation, and the energy sector. Wyatt has also previously written for The Post Millennial.

4 responses to “WATCH: Freeland Called Out For $2 Billion Being Spent On Non-Existant Corporation”

  1. Jeffery Gilbert says:

    This situation leaves the door wide open for the worst kind of political corruption: political favors to cronies, and free access to public money for friends and relatives without any oversight.
    This stunt bears watching

  2. kris says:

    Money laundering at it’s finest. Let me be perfectly clear. I’ll take some of it.

  3. Joyce Webb says:

    CF – What a snake! And she’s so calm when she’s trying to explain herself.

  4. Sam says:

    WHAT THE HELL IS HAPPENING ??????? THIS IS BIZARRO WORLD….I AM CONVINCED I HAVE TRANSITIONED ACROSS TO ANOTHER PARALLEL UNIVERSE. I don’t know what’s happened to this country in the last five years. I simply cannot believe what’s happening right before our eyes.