Freeland confirms Ottawa to develop $15-billion program to help pension funds invest in AI data centres

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Freeland confirms Ottawa to develop $15-billion program to help pension funds invest in AI data centres

^{Published on 2024-12-13 18:40:47 - The Globe and Mail}

Finance Minister Chrystia Freeland confirmed Ottawa plans to develop a $15-billion program to generate up to $45-billion in investments from pension plans to build AI data centres, as first reported by The Globe and Mail. A daily look at the most important business stories that are making news and moving markets, written by Chris Wilson-Smith

The article from The Globe and Mail discusses Finance Minister Chrystia Freeland's announcement regarding the development of a $15-billion program aimed at supporting Canadian pension funds in investing in domestic infrastructure and growth companies. This initiative, which was part of the 2023 federal budget, seeks to encourage pension funds to invest more within Canada, particularly in sectors like housing, infrastructure, and venture capital. Freeland emphasized that while the government will not mandate investment, it aims to facilitate and incentivize these investments. The program includes setting up a working group to explore how to increase domestic investments without compromising the funds' primary duty to their beneficiaries. This move comes amidst discussions on the role of pension funds in national economic development, with some critics arguing that such investments could potentially conflict with the funds' obligations to maximize returns for their members.

Read the Full The Globe and Mail Article at:
[ https://www.theglobeandmail.com/business/article-freeland-confirms-ottawa-to-develop-15-billion-program-to-help-pension/ ]

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