More longreads (and listens!) for your long weekend
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As noted last week, M&W is on a short break, but we wanted to highlight a few stories you may have missed recently.
First up, the top five most-read stories from Means & Ways:
We asked 15 economic, policy and business leaders “What is Canada’s single biggest vulnerability when it comes to the economy — and how do we fix it?”
The Coalition for a Better Future released its fifth Scorecard Report, which notes that “the fragility of our economic growth is no longer a theoretical concern.”
“Telecommunications is an enabler of productivity, it's an enabler of the way of life, it's an enabler of sovereignty, protection, defence. It becomes a very vital infrastructure,” says André Tremblay, Executive Chairman of Terrestar.
Will Canada be fighting two separatist movements this fall? “One thing is clear. The next edition of the neverendum will again spook investors and lenders, and once again cost all Canadians,” writes Ken Polk.
“Hard as it may sound in the context of the myriad negative economic and political side effects it has had so far, the Prime Minister will be content to speak and act like the leader he is: someone who accepts the world as it is rather than how he might like it to be, and who will not be distracted by the bright shiny thing,” writes Ken Polk.
Also not to be missed:
As calls continue for a true Indigenous sovereign wealth fund, a new force in Canadian investing has emerged
Indigenous communities are emerging as a major economic force in Canada, fueled by billions of dollars in land claim settlements, resource ownership and commercial partnerships, prompting the rise of Indigenous-owned asset management firms focused on long-term, values-based investing and economic self-determination. An Indigenous sovereign wealth fund would provide a stronger framework to manage growing community wealth, says Jaimie Lickers, Senior Vice-President, Indigenous Markets, CIBC Commercial Banking.
But the federal government has yet to establish the legal structure or meaningful consultation needed to support such a model. As Indigenous-controlled capital continues to expand, strengthening Indigenous investment institutions could drive economic growth, infrastructure development and intergenerational prosperity for both First Nations and Canada as a whole, Lickers writes.
“The growth of Indigenous asset managers can be a transformative milestone towards intergenerational prosperity for First Nations communities and unlock major economic potential for the country. The next decade will hinge on partnership, policy and the continued growth of Indigenous leadership within the industry.”
Unlocking an Energy Superpower
Canada can become a global LNG superpower by leveraging its vast natural gas reserves in the Western Canadian Sedimentary Basin and Montney formation, according to a new playbook from the Public Policy Forum. The report argues LNG can strengthen the economy, improve energy security, support Indigenous reconciliation and diversify exports beyond the United States.
“A robust Canadian LNG sector checks every economic box,” the report says, adding that expanding LNG production could add billions of dollars to Canada's GDP and create tens of thousands of jobs. The report notes that regulatory delays, infrastructure gaps, financing challenges and lengthy approval processes have stalled many projects. Recommendations include developing a national LNG strategy, faster and more predictable project approvals, stronger Indigenous partnerships and equity participation, coordinated federal-provincial oversight, and targeted investments in infrastructure and workforce development to accelerate Canada's position in the global LNG market.
What Alberta’s corporate heavyweights really think about separation
Corporate Calgary has largely remained on the sidelines of Alberta’s separation debate ahead of the province’s Oct. 19 referendum, with most business leaders privately opposing secession while expressing sympathy for the frustrations driving the movement. Executives interviewed by The Logic said they see little evidence that the referendum is deterring investment or prompting corporate flight, arguing Alberta’s oil and gas industry is unlikely to relocate. Some business groups warn prolonged uncertainty could reduce investment and encourage companies to move head offices or senior operations elsewhere.
Former Alberta premier Jason Kenney told The Logic: “The most effective argument the separatists have is not actually a separatist argument.It’s ‘vote for separation because this will give Alberta stronger weight in the federation. … ‘Let’s hold a knife to Ottawa’s throat in the same way Quebec has for 60 years. After all,they got two-tier federalism, $13 billion in equalization and minimal interference from Ottawa.’ Frankly, I find it the hardest argument to rebut.”
The story notes that many Alberta business leaders view the referendum as both a reflection of deep dissatisfaction with federal policies and a high-stakes political gamble, with growing calls for Ottawa to address the province’s longstanding economic and constitutional grievances.
And here are some great conversations for your podcast playlist.
Why the Canadian economy will be okay
Canada has avoided the worst-case economic fallout from the 2025 U.S. trade shock, with no recession, declining unemployment, and modest GDP growth, though affordability challenges and uneven regional performance continue to leave many Canadians feeling financially strained. RBC Chief Economist Francis Donald says on the WONK podcast that the federal government's long-term strategy to boost investment, infrastructure and productivity is moving in the right direction, but warned that meaningful results will take years and require steady policy progress to maintain public and investor confidence. Donald also argues that while artificial intelligence is unlikely to cause widespread job losses in the near term, Canada must address youth unemployment, prepare workers for a changing economy, and focus on productivity and skills development to support long-term growth.
Is American Chaos an Opportunity for Canada?
Stephen Marche argues that political instability and democratic decline in the United States are forcing Canada to rethink its long-standing dependence on its southern neighbour, creating an opportunity for Canada to strengthen its sovereignty, diversify its economy and build new international partnerships. On The Paiken Podcast, he described a growing divide between an "old Canada" that hopes the traditional Canada–U.S. relationship will return and a "new Canada" that believes the break is permanent and requires a fundamental reorientation of Canadian policy. Despite his pessimism about America's political trajectory, Marche said he is cautiously optimistic that Canada can emerge stronger by adapting to a changing global order.
Rethinking Canada’s Defence Strategy for a Changing World
Canada is entering its most significant defence buildup since the 1950s, driven by heightened geopolitical tensions, pressure from NATO allies and growing uncertainty about the reliability of the United States under President Donald Trump, according to defence expert Jeffrey Collins in the IRPP’s Futureproofing Canada podcast. Collins said Ottawa’s plan to boost military spending to five per cent of GDP and expand Canada’s defence industrial base will require sweeping procurement reforms, closer partnerships with allies, major investments in skilled workers and sustained political support, warning that bureaucratic bottlenecks and labour shortages could slow progress. He also cautioned that while public support for higher defence spending is currently strong, maintaining it will depend on whether Canadians continue to view national security as a priority amid competing demands for healthcare, education and other public services.
