The Globe and Mail reports in its Monday, May 5, edition that National Bank of Canada chief executive officer Laurent Ferreira wants to bridge Canada's economic solitudes, Alberta and Quebec. The Globe's guest columnist John Turley-Ewart writes that it is the toughest of challenges, finding common ground between one politically conservative, anglophone province committed to conventional energy sources and another, politically progressive, francophone province that is a proponent of renewables.
Mr. Ferreira may well cut a path to a pragmatic, national economic plan for another banker trying to unite the country, Prime Minister Mark Carney. Mr. Ferreira is today the most direct and vocal of bank executives. He is calling for action from Ottawa to reverse the complacent response to Canada's own goals, "excessive regulation and oversight." They put sand in the gears of growth and undermine living standards. Mr. Ferreira points to Ottawa's Bill C-69 and proposed federal emission cap on conventional energy as examples. He says neither Bill C-69 nor emissions caps regulations serve the interests of Alberta or Quebec and the Canadian economy more broadly. Mr. Ferreira is doing Canada a service by pointing this out.
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