Investment industry calls for Ottawa to tackle competitiveness GlobeInvestor
The Investment Industry Association of Canada is calling on Finance Minister Bill Morneau to increase annual RRSP contribution limits and to allow Canadians past the age of 71 to continue to make RRSP contributions.
“We also don’t know how a stronger U.S. economy will affect investment in Canada,” he adds. “Will Canadian capital move south?” The problem with persistent deficit spending is that it limits the government’s ability to respond to a volatile world economy and major shifts, such as an aging population in Canada. These social and demographic changes can affect both retail and institutional investors as well as the financial services industry – and the government needs to keep up.“There’s an opportunity for a much more vigorous fiscal response,” Mr. Russell says.
Since then, other countries have either updated or introduced their own safe harbour rules to keep their domestic asset-management sectors competitive, says IFIC’s pre-budget release, whose members include 150 investment fund managers, dealers as well as professional and business services firms that support the industry.
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