Pierre Poilievre said the loss of British-owned HSBC’s Canadian division will exacerbate issues in Canada’s banking sector, which he said is already overly concentrated.
If I were a reporter, I’d dig. This guy has never cared about this kind of capitalist move previously.
I’m guessing his cheque from RBC hasn’t arrived in the mail yet.
He’s not wrong. I have no idea why it’s PP objecting to this since he has backed corporate consolidation in the past but hey… good on him for opposing this awful merger.
Probably because he has something to gain personally.
Ya, I agree, except HSBC is exiting Canada, so one of the big banks pretty much has to buy them. Unless someone else wants to move in.
To give him some credit (I did some digging), he spoke out against the Rogers-Shaw merger as well. Well, sorta - it wasn’t very strongly worded, but he did point towards a Conservative policy of having at least 4 competitors in every industry.
This is a redundant position, of course mega mergers are bad, he loses no support by holding this position. It is his job to be opposition.
The proper position to introduce law to change corporate taxation for monopolies.
