(from Just Peace News, Issue 18)
Prime Minister Mark Carney and his crew have been doing all to maximize investment for his Defence Industrial Strategy and Canada’s membership in NATO. While he mouths words about Canadian self-reliance and nation-building for the benefit of the workers, it is plain to see they are operating for the benefit of the bankers. The Liberal Party schemes are intended to increase prosperity for the oligarchy and their biggest patrons, including weapons producers and mineral extractors.
After a trip to the UK, Defense Minister McGuinty hosted a private meeting in Toronto with war industry leaders.https://www.readthemaple.com/david-mcguinty-met-with-secret-list-of-war-industry-leaders/ Why the secrecy? –likely because McGuinty, Carney and the Liberal team fear the public response.
The Maple notes that McGuinty held a meeting with representatives of nine pension funds right after the above-mentioned war industry meeting. Some of those funds are public, such as the Ontario teachers’ and Ontario Municipal workers’ funds. Since, as readers probably know, pension funds are investment holdings for big corporations which are vulnerable to stock market instability, no doubt the Liberal government is inviting (more) war industry investments in pension funds. Gambling with pensions is never good for the workers who pay into such funds expecting to reap future benefits; recall that the Canada Pension Fund is also subject to stock market trading and lost millions of dollars of the people’s money during the crash of 2008.
A press release of the Department of National Defense confirms that the intention of McGuinty’s closed meeting with the pension funds personnel was to develop collaboration between them and the Defence Industrial Strategy. https://www.readthemaple.com/david-mcguinty-met-with-secret-list-of-war-industry-leaders/ An example of the projects in line for heavier investment is the government’s persistence in pursuing the purchase of 88 F-35 fighter jets from Lockheed Martin. Though stalling over the past year, after 16 of these jets were contracted and preparations for their use begun; the Liberals have restored loyalty to the Lockheed Martin corporations, probably the richest and most powerful arms producer, and US imperialism.
Another piece of alarming news related to investment for militarization is the appointment of a defense department leader, Chief of Staff in 2005, to the newly created position of Strategic Defense Advisor to the National Bank of Canada. https://yvesengler.com/2026/08/13/top-general-gets-spot-in-canadas-military-financial-complex/ The National Bank just joined the Canadian Association of Defense and Security Industries (CADSI) and participated in the annual arms trade show in Ottawa last May. The Bank’s new advisor is General R. Hillier, renown for his enthusiastic involvement in Afghanistan and fervent support of Israeli Zionism.
The Defense Industrial Strategy (see JPN issue 9) is clearly intended to integrate military expansion with the whole economy. McGuinty’s recent meetings complement Carney’s “Sovereign Wealth Fund” for foreign and domestic investment into Canadian infrastructure, including military infrastructure (see JPN Issue 14), the “war bank” or Defense, Security and Resilience Bank (see JPN issue 12) and the upcoming investment summit in Toronto scheduled for September 14 and 15, 2026.
Opponents of the scheme to keep the Canadian economy on a war footing, invest in death and destruction and turn over vast amounts of the people’s money to war profiteers are organizing a challenge. The Money for Many’s campaign and Capitalism Can’t be Fixed–Towards a Socialist Future are planning various protests and discussions around the summit in September.
Around 100 CEO’s of the richest enterprises, including Blackrock, Blackstone and Barclays, are invited to what Carney has ambitiously dubbed “Davos in Toronto.” The PM is praying for a commitment of one trillion dollars in investments over the next five years to be generated from it.
This mobilization of capital goes in tandem with legislative initiatives intended to make things as easy as possible for investors. Writes Yves Engler, “Under the Build Canada Act, projects ‘of national interest’ receive a special fast-track status that allows them to bypass certain regulations and consultations.” www.thecanadafiles.com/articles/carney-invites-wealthy-friends-to-davos-in-toronto-and-were-told-to-cheer
The opposition to this orgy of capitalism to take place in Toronto in a few weeks has big plans. Capitalism Can’t be Fixed started a public letter signed by David Suzuki, author Yann Martel, musician Roger Waters, indigenous activist Ellen Gabriel and 1,000 other authors, artists, academics and activists. www.thecanadafiles.com/articles/carney-invites-wealthy-friends-to-davos-in-toronto-and-were-told-to-cheer Naomi Klein is to speak at an event a week before the CEO Summit. There will be a public forum at the Workers’ Action Center on the eve of the CEO Summit on Sunday, August 13, and street protests at noon and 6:00 p.m. the day after. Aspiring to a wide mobilization, Capitalism Can’t be Fixed is organizing a carnivalesque action with costumes, artwork and music.
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