Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeNewsCanada’s wealth fund is not aimed at lowering investors’ taxes, Champagne saysFund will let citizens contribute to nation-building projectsAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Canada's Minister of Finance François-Philippe Champagne arrives at a meeting of G7 finance ministers and central bank governors in Paris on May 18, 2026. “This is not a tax play. This is about Canadians being able to contribute,” he said of the recently announced sovereign wealth fund. Photo by JULIEN DE ROSA /AFP via Getty ImagesCanada’s finance minister said the country’s planned sovereign wealth fund will be designed to allow citizens to contribute to major nation-building projects, but isn’t intended to reduce their tax burdens.Subscribe 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 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.Create 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.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 Accountor“We already have a number of tax credits to facilitate savings and investments,” Francois-Philippe Champagne said in an interview on Tuesday on the sidelines of the Group of Seven meetings in Paris.“This is not a tax play. This is about Canadians being able to contribute,” he said.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.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 Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againPrime Minister Mark Carney announced the Canada Strong Fund last month, saying his government will seed $25 billion into the vehicle to provide financing for large infrastructure projects and domestic companies.Officials have offered few details as to how the fund will operate. But the government pledged to include a retail element that will allow Canadians to invest alongside public funds, potentially giving them a stake in major projects such as pipelines and ports that are meant to grow Canada’s non-U.S. exports.“This is more about people being able to be part of growing or building the nation,” Champagne said. “Unless you’re a qualified investor, most of these large infrastructure projects, unless you invest in a very specific fund, would not be broadly available to Canadians.”The fund is still being developed pending consultations, so it’s possible some tax incentives could eventually be included.The country’s personal tax regime has been regularly criticized for stifling productivity, with some analysts suggesting the highest income bracket kicks in too low.Carney has pledged to boost private investment in Canada by $500 billion in half a decade.Champagne said the Paris meetings were focused on the war in the Middle East and the subsequent spike in oil prices. There was widespread consensus for the reopening of the Strait of Hormuz.“The call was unanimous to stop the hostility as quickly as possible to restore freedom of navigation and look at what we could do on a humanitarian basis,” Champagne said.He also raised concerns about the so-called secondary impacts of the war, including the potential affordability damage from higher prices for fertilizer and semiconductors.At the same time, the conflict and the spike in crude oil prices are also making Canada stand out as an “energy superpower,” Champagne argued. The recent memorandum of understanding with the oil rich-province of Alberta to build a new pipeline to the west coast is catching international attention, he said.“Colleagues around the table certainly look at Canada to play a larger role when it comes to energy security,” he said. “We have already taken a number of steps to increase our production, whether it’s about in conventional or renewable energy.”As global bond yields rise, Champagne pushed back on the notion that higher borrowing costs would worsen Canada’s fiscal position. He pointed to federal measures to address affordability concerns, including tax rebates to help with rising food costs and a reduction in gas taxes, saying they have been “very targeted and time limited.”The federal government published a fiscal update last month that showed Canada continues to spend heavily on infrastructure, housing and temporary affordability relief. The Department of Finance expects the country will run a $65.3 billion shortfall this fiscal year. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.