Canada's Buy Canadian Policy: A $12B Annual Hit
Edmonton News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
A new study from the Montreal Economic Institute warns that Canadas Buy Canadian procurement policy will significantly increase infrastructure costs, potentially by over twelve billion dollars annually. The policy, which started in December, gives preference to domestic bidders on large federal contracts, leading to higher prices for less efficient projects. Economist Vincent Geloso argues that these preferences make local firms less competitive, hindering innovation and cost-cutting. He cites a California program that increased costs by up to 3.6% as evidence. Geloso also disputes the jobs claim, stating that similar Buy American rules in the U.S. cost up to $237,000 per job created, far above average wages. He advocates for open bidding, which he believes is fairer and more efficient, despite criticism of recent decisions like BC Ferries choosing a Chinese yard.
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