Expect More Inbound Foreign Investment From The Trudeau Government

The below editorial was published in the Globe and Mail's Monday, January 30 edition, and is based on an article published in the Q1 issue of the Torys Quarterly, available here.

Prime Minister Justin Trudeau's recent cabinet shuffle, promoting former trade minister Chrystia Freeland to Foreign Affairs Minister, has highlighted the Liberal government's focus on trade as a driver of domestic economic growth and prosperity. However, there's another area of Liberal focus that until recently has gone largely unnoticed and is arguably just as important to driving Canada's economy: a more open approach to the review of inbound foreign investment.

Under the Investment Canada Act, the government carries out "net benefit" reviews for transactions that exceed certain financial thresholds. It can also commence "national security" reviews in connection with virtually any investment. Under the previous Conservative government, both types of review were common, and an