Dear John,

I hope this message finds you well.

As I reflect on last night’s federal election, I wanted to share a few thoughts about the outcome, our country’s current state, and the important work we do at the Fraser Institute.

I know many of you are disappointed with the election results. Once again, the election highlights a deeply divided Canada – geographically, and increasingly across generations.

At this point, the election looks to have produced another minority government, and the two main parties, the Liberals and Conservatives, were neck-and-neck in the popular vote, 43.5% and 41.4%.

Before Donald Trump’s tariff attack on our economy became a rallying cry for Canadians, there was growing recognition of Canada’s poor economic performance and dissatisfaction with federal leadership. However, Trump’s tariffs and aggressive rhetoric regarding Canadian sovereignty dramatically shifted the conversation.

Enough Canadians chose a government that offered more of the same during the election: bigger government, higher debt-financed spending, and more regulation of the economy.

The only way to square this with the fact that most Canadians wanted a change in policy direction as overwhelmingly evidenced by exit polls, is that clearly the election was a response to the external threat of President Trump.

Unfortunately, the government’s approach remains one where the government takes a greater role in people’s lives at the expense of entrepreneurs, business owners, investors, and Canadian families.

And as a result, we should expect the same disastrous results to continue.

From 2016 to 2024, Canadian incomes (measured by GDP per person) have flatlined, business investment is fleeing, housing has become increasingly unaffordable, and the growing burden of government debt will fall squarely on the shoulders of younger Canadians. It’s no wonder they’re unhappy.

They, of course, are not the only ones. Like you, we are deeply concerned about the direction of federal policy.

We will continue, as we have been, to be a leading voice in Canadian public policy, holding governments accountable and educating Canadians about the real impact of government policies.

Change may not have arrived yet, but I believe it is still coming. The climate of opinion is shifting, and we must remember that before Trump’s tariffs and threats, Canadians were demanding change in policy direction.

Indeed, as exit polls showed across the country, a majority of Canadians believe the country is on the wrong track and needs material changes in policy – but these concerns were overwhelmed by the threats from Washington, DC.

We helped make the change in policy demands happen. And we will make sure the conversation returns to where it belongs: on the deteriorating standard of living in Canada, and the government policies that caused it.

We remain optimistic because we know that despite the Trump headwinds, our work has already created significant change at the federal level.

For example, thanks to our relentless research and outreach:

• Both the Liberals and Conservatives promised to scrap the proposed capital gains tax hike. The Conservatives even embraced our idea of a capital gains rollover to help increase investment in our country.
• Both parties proposed reducing personal income taxes for Canadian families.
• Both parties committed to reaching the NATO 2% defence spending target more quickly.
• Both pledged to eliminate interprovincial trade barriers – reforms we have long championed.
• Both parties are now also against the consumer carbon tax, which we have released research on showing that it would kill jobs and hurt our economy.

These are all ideas that were contained in our Federal Blueprint for Prosperity.

In addition to this, Conservative Leader Pierre Poilievre highlighted our research comparing business investment in Canada and the U.S. during leadership debates, campaign videos, and interviews, including on high-profile podcasts with Jordan Peterson and several up-and-coming Canadian podcasters, reaching millions of Canadians.

At the Fraser Institute, we take the long view.

A single election does not, and will not, determine Canada’s destiny.

We believe in a brighter, more prosperous future for our country. We will continue to educate Canadians on the need for policies that grow the economy, improve healthcare, lower taxes, and expand opportunity for all Canadians.

We won’t give up.

If you'd like to support our continued work, please consider making a donation today.

Thanks for being a friend and supporter of the Institute.

Sincerely,

Niels Veldhuis
President
The Fraser Institute