Day one of investment summit sees billion-dollar announcements, changes to tax policy

Canada's first-ever national investment summit in Toronto has seen hundreds of executives and global asset managers gather for a pivotal event. Prime Minister Mark Carney has set an ambitious goal of attracting $1 trillion in new investment to Canada over the next five years, and several announcements were made at the summit. The federal government announced that investors putting $1 billion or more into the Canadian economy will now get priority access to a program offering binding decisions from the Canada Revenue Agency.

Additionally, Manitoba announced it will waive the provincial sales tax on major capital spending for the Port of Churchill, aiming to attract international investment through a new energy corridor and liquefied natural gas facilities. Major banks such as TD Bank and Scotiabank have also committed significant funds to accelerate investment in Canada, with TD Bank pledging $150 billion over five years and Scotiabank launching the Scotia Gro.

Brief written by urgent.news from Winnipeg Free Press's own syndicated text. Machine-written — may contain errors; check the original before relying on it.