09/15/26 09:46Ottawa announces new tax ‘mega deduction’ for companies on new investment
– Andrew Willis
Good morning. I’m Andrew Willis, a business columnist at The Globe and Mail.
I’m at the Canada Investment Summit today, and recently spent a week in Calgary, where I met with the CEOs of several oil sands producers.
Prime Minister Mark Carney just made a tax announcement that will thrill the heads of the country’s largest energy companies.
He announced a “Productivity Mega Deduction” that allows companies to immediately deduct 100 per cent of the cost of new investment across far more assets than previously allowed.
The Prime Minister got a laugh when he joked the Liberals called it a mega deduction because they used the phrase “super deduction” in the last budget. The government’s briefing on the tax break specifically mentions the energy sector. Alberta-based oil sands operators need to invest billions to open up new properties that will in turn feed a potential new pipeline to a deep-water port on the Pacific Coast.
This tax change makes those projects far more likely. We will be looking for a response from companies like Cenovus, Canadian Natural Resources, Imperial Oil and Suncor.
09/15/26 09:40Hello from Toronto’s Four Seasons hotel
– Bill Curry
Former prime minister Stephen Harper attends the Canada Investment Summit in Toronto.Carlos Osorio/Reuters
Good morning from inside a conference room at Toronto’s Four Seasons hotel, where more than 200 investors, premiers, government officials and former prime minister Stephen Harper are squeezed in to hear Prime Minister Mark Carney’s Tuesday morning speech.
Before he began, participants were encouraged to spend the day mingling and arranging meetings.
They were also told that they represent leaders managing $120-trillion in capital.
09/15/26 09:38Ottawa to help finance nationwide sovereign internet network, Carney says
– Irene Galea
Prime Minister Mark Carney delivers opening remarks during the Canada Investment Summit in Toronto on Tuesday.Nathan Denette/The Canadian Press
The federal government will help to finance a new internet network to provide nationwide sovereign internet connectivity, Prime Minister Mark Carney announced.
“We will reinvest the tens of billions of dollars of capital we raise into the infrastructure that Canada needs for the next generation,” Carney said as part of his opening remarks.
That will mean “helping to finance new nation-building infrastructure, including a sovereign broadband backbone that connects Canadians from coast to coast to coast, with more direct and secure links to Europe and Asia,” he said.
A “broadband backbone” is the high-capacity core of the internet network that carries traffic between cities and countries.
The federal government previously signalled in its National Artificial Intelligence Strategy released in June that it planned to expand high-capacity fibre lines and satellite connectivity to improve network resilience and limit the effects of disruptions.
09/15/26 09:30Carney’s message for Americans
– Stephanie Levitz
Though Carney is making a pitch to global investors to put more money into Canada, he also had a message for Americans.
Canada and the U.S. are now in a trade war, and some of the chatter around the summit has been about whether that will impact how investors react to Carney’s pitch.
In his opening remarks, Carney said Canada will continue to be the U.S.’s most important partner in many key areas, noting that at times of disagreement throughout history, the two countries have always stayed close.
He said that only works when the two countries “engage as true partners that respect each other’s traditions and sovereignty.”
And he took a look ahead, saying, “When those opportunities return, Canada will be an even better partner – stronger, more resilient, more independent – ready to advance our mutual economic and security interests.”
09/15/26 09:04Carney details plans to open Canada’s four largest airports up for private investment
– Stephanie Levitz
Prime Minister Mark Carney delivers opening remarks during the start of the second day at the 2026 Canada Investment Summit in Toronto.Nathan Denette/The Canadian Press
The first full day of the Canada Investment Summit is kicking off with an announcement by Prime Minister Mark Carney on opening up Canada’s four largest airports for private investment.
In his opening remarks to the gathering, Carney said the government will retain ownership of land and assets but seek private investment through long-term concessions to operate the airports.
Canada’s four largest airports are Vancouver, Calgary, Toronto and Montreal.
Carney said the capital raised through private investors will be reinvested into infrastructure, including regional airports.
Transport Minister Steven MacKinnon had briefed Liberal MPs on the plans in a late-day call on Monday, The Globe earlier reported.
09/15/26 08:30A sit-down with Mark Carney
– Andrew Willis
Prime Minister Mark Carney gives an interview to The Globe and Mail on Monday.Jennifer Roberts/The Globe and Mail
Prime Minister Mark Carney said in an interview Monday that his government’s investment summit is part of a strategy to line up foreign capital behind Canada’s manufacturing sector while boosting trade with Asia and Europe.
The summit, taking place Monday and Tuesday at the Four Seasons in Toronto, is being attended by global investors and watched closely by a domestic audience waiting to see Carney’s next move in the trade war with the United States.
On the first day of the event, Carney said capital is just one of many ingredients required to boost Canada’s economy.
“You need capital, you need deals, you need projects, you need the proper regulatory environment, you need a competitive tax environment, and you need ambition and action,” Carney said. He said the summit is meant to bring all these factors together, to the benefit of all Canadians, not just business leaders.
“We are launching the investment supercycle that the country needs,” he added, perched on the edge of a Four Seasons hotel chair and occasionally jabbing a finger in the air to drive home his point.
09/15/26 08:30The deals and dealmakers to watch at the Canada Investment Summit
– Jason Kirby
Investors from around the world have descended on Toronto for the Canada Investment Summit, Prime Minister Mark Carney’s effort to show the world the country is ready to build big things again.
As part of that, Ottawa has identified scores of projects to showcase during the event, which 120 Canadian and international funds and investment companies with roughly $120-trillion in combined assets under management are expected to attend.
Here’s a look at possible candidates for deals and some of the big-name investors set to show up for the summit.
Read the full story and list of potential deals here.
09/15/26 08:30Carney to deliver remarks, hold press conference on day two of investment summit
– The Canadian Press
Prime Minister Mark Carney is set to deliver remarks and hold a press conference at his government’s investment summit in Toronto today.
The prime minister is also scheduled to participate in a discussion with Deborah Orida, the CEO of PSP Investments which is one of Canada’s largest pension investors.
Hundreds of executives and global asset managers are in Toronto this week for Canada’s first-ever national investment summit and Carney has set an ambitious goal of attracting $1-trillion in new investment over the next five years.
Day one of the investment summit saw billion-dollar announcements and changes to Canada’s tax policy.
The federal government said investors putting $1-billion or more into Canada’s economy will get priority access to a program that offers binding decisions from the Canada Revenue Agency, while Saskatchewan Premier Scott Moe announced an expansion of Bell’s AI data centre project in Saskatchewan.
The formal program kicked off with a gala dinner on Monday night. But the main event is on Tuesday, with a plenary session, panel discussions, small group meetings and a concierge service to match people up for sideline discussions, much of which will happen behind closed doors.
The event has been criticized by some Indigenous leaders, environmental groups and union leaders who say they worry about the future of public services, pipelines and arms manufacturing.