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Royal Bank of Canada
Symbol RY
Shares Issued 1,400,490,212
Close 2026-01-02 C$ 234.57
Market Cap C$ 328,512,989,029
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Globe says RBC's Lascelles sees feds get out of the way

2026-01-05 08:03 ET - In the News

The Globe and Mail reports in its Saturday edition that Eric Lascelles, chief economist, RBC Global Asset Management, says that while improving infrastructure and bolstering the country's capital stock are priorities for Canada's new government, surprisingly little of the push is set to come in the form of the government's own capital expenditures. Mr. Lascelles says the new budget merely envisions an extra $9-billion a year of such investments above the pre-existing trajectory -- equivalent to just 0.3 per cent of gross domestic product. Instead, the government's main contribution is getting out of the way: streamlining project approvals via the One Canadian Economy Act passed last summer, shepherding key projects forward via the new Major Projects Office and cutting the effective tax rate on capital. Mr. Lascelles says it is critical the government gets this right given the backdrop of a woeful productivity environment and diminished trade prospects.

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