Canada: Opportunity for Renewal
The Empire Club of Canada Addresses (Toronto, Canada), 27 Feb 1992, p. 381-392
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Canada: Opportunity for Renewal

A joint meeting of The Empire Club of Canada and The Canadian Club of Toronto. Financial services reform and the constitutional question. A changing and challenging future in the financial services industries, following a prolonged and arduous process of legislative reform. A similar process is ongoing in the constitutional debate. Both issues have and will have outcomes that will be pivotal to Canada's future. An exploration of the parallels in these two issues follows with the intent of producing some keys to a more successful resolution of Canada's future. The address continues with an historical review of the financial services industries with much discussion of legislation. The continuing evolution of these issues. Differing opinions about what the current focus should be. Dangers of losing sight of the long term. Overcoming Canada's vast and difficult geography, climate, and diverse population. The growth and prosperity already achieved by Canadians. What the constitution should do: provide a framework to meet future needs. The current impasse as a consequence of two founding cultures. Examples of common ground. Shifts of power between national and regional jurisdictions. Problems in competing in international markets in a weak domestic situation. Founding principles and how to get back to them. The constitution can't be settled until the economy is stable; the economy will never be stable until we have an effective constitution. An optimistic view of recent constitutional conferences.