The speaker declares himself to be speaking as a private citizen and that his views as expressed are personal ones. The Report on foreign ownership in the broad context of a new National Policy for Canada. Remarks on and quotations from the historic National Policy of Sir John A. Macdonald, centering on the tariff which was intended to promote Canadian industrialization and Canadian independence, both economic and political. That National Policy still controversial, but general agreement that the old National Policy in terms of its relevance as a central direction for government policy is now a thing of the past. Foreign direct investment. How the Canadian tariff enclosed the Canadian market. Why the Canadian tariff created Canadian industries but not Canadian firms. The state's role in promoting and shaping Canadian economic development. What a National Policy should have created in terms of Canadian entrepreneurship. Foreign ownership: a detailed discussion. The major costs of foreign ownership. Some political consequences. Canadian complicity. The kinds of economic policy that have emerged. What we already have by way of a new national policy: monetary-fiscal policy and industrial policy. Changes in tariff legislation and how they should be seen. The insufficiency of what now passes for national policy in Canada. A new national policy centering on concrete issues raised by foreign ownership. Implementing the proposals of the Task Force Report. A need to increase the economic benefits from foreign ownership. The need to promote domestic entrepreneurship, private and public. A National Policy which, like the old one, has broad implications for nation-building. A National Policy which reassumes the burden of curtailing American manifest destiny. Arguing for a policy of Canadian independence without insisting that a new National Policy should ignore other matters. Canadian nationalism.
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