CARNEY CONFESSES: But Carney’s $36 Billion Confession Is Worse Than It Looks

Tap The Maple | Bakes On Things · Sep 17, 2026 · 31m

Mark Carney has cut Canada’s marginal effective tax rate on new business investment from approximately 13% to 6.4%, at an estimated fiscal cost of $36 billion over five years.

But the Liberal government was already boasting that Canada had the lowest effective tax rate on new investment in the G7. If Canada already offered the best tax treatment, why did Carney need to cut that rate almost in half again?

This announcement exposes a much larger problem. Investors do not make decisions based on tax rates alone. They consider regulatory delays, approval uncertainty, electricity availability…