TD sees Canada investment ‘supercycle’ with tax, regulation reforms

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Photo by Cole Burston/Bloomberg via Getty ImagesThe Canadian economy has the potential to enter an investment “supercycle,” despite its currently stormy relationship with the United States, but it needs reforms to taxes and regulation, Toronto-Dominion Bank said.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountIn a new report, economists at Canada’s second-largest bank calculated there’s already more than $1 trillion in proposed long-term projects in key sectors. That includes about $280 billion in the defence industry, as Prime Minister Mark Carney’s government spends heavily to rebuild the country’s military.Energy is the biggest potential source of investment, with more than $360 billion of proposed spending, including new oil and gas pipelines and liquefied natural gas facilities on the coast of British Columbia.Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try again“If policymakers get it right and lean more heavily into creating a pro-competitive environment, the investment outlook could be in for a series of upgrades that defies recent history,” said the report by chief economist Beata Caranci and deputy chief economist Derek Burleton. They argue investment levels could increase to $1.5 trillion or more over 10 years, if reforms are made.Too much regulation makes projects too slow and deters capital, the economists wrote. Carney and provincial governments are trying to make progress by accelerating the approval process. “However, results matter in order for Canada to overcome the narrative that it is a difficult place to invest,” TD said.The structure of Canada’s personal and business tax systems also creates barriers to more rapid growth, the economists said.“The U.S.-Canada trade dispute is a compelling reason for Canada to pull the levers that are fully within its control,” Caranci and Burleton wrote.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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