Frank Stronach

A new political movement to fix our ailing country

April 18, 2023

Whether in business, in society or in your own personal life, if something doesn’t function properly, you should know that you’ve got a problem. And if you don’t know that you’ve got a problem, then you’ve really got a problem. Problems are like cancer: they don’t go away by themselves and, if left untreated, they will grow. In Canada today, it seems as though we don’t know — or don’t want to know — what our problems are. Whether its our mushrooming national debt or the out-of-control growth in government bureaucracy or our slowly eroding living standards, we’re simply not tackling the major issues facing our country head-on. So who can Canadians turn to in order to restore fiscal discipline

The national debt — a ticking time bomb for future generations

June 20, 2023

Canada keeps digging itself deeper and deeper into debt thanks to out-of-control government spending and the increased interest we have to pay on that ballooning debt. Warren Buffett once said that, “The most important thing to do if you find yourself in a hole is to stop digging.” But most Canadian governments have not heeded that sound advice. They just keep on digging. According to the International Monetary Fund, the ratio between Canada’s public debt and its gross domestic product is 105 per cent. In plain English, this means that as a country, we now owe more money than the total value of all the goods and services we produce in a year. If Canada were a person or a

Business magnate Frank Stronach calls for more companies to embrace ‘fair business’ approach

June 14, 2023

Frank Stronach, the founder of automotive parts supplier Magna International, a company he started in a garage and now has sales of over US$35 billion, has a few ideas about how to make Canada more prosperous, democratic and free. On Tuesday night, the Order of Canada recipient and 2023 Executive in Residence at the University of Toronto Scarborough delivered the first of two planned special lectures. Much of his talk focused on his management philosophy called fair enterprise, a profit-sharing model he credits for accelerating the growth of Magna. According to Stronach, once employees at Magna participated in profit sharing, the company’s revenue increased 60 per cent in the first year, 100 per cent in the second and 200 per

Canadians need to rise up and fight for their prosperity

August 15, 2023

Canadians know deep in their bones that our country is in trouble and our economy is sick. We also know that we have to fix things because time is quickly running out. The national debt is a case in point. If we don’t tackle this problem now, the buildup of debt and the interest that keeps piling on top of it will drastically affect future generations, who will be stuck with the bill. And that’s not the only economic problem we face. The gap between the wealthy and the workers is growing larger and larger. Many Canadians are living paycheque to paycheque. And it’s become increasingly difficult for young Canadians to find good-paying jobs or afford to buy a home.

The pressing need to unclog the tax system

May 16, 2023

Most Canadians who filed their income taxes last month probably came away more convinced than ever that our tax system is way too convoluted and complex. Earlier this month, I proposed the creation of a new national movement of concerned Canadians from all walks of life who would rally around a set of core principles to boost our economy and improve our country’s living standards. One of those core principles was to simplify our tax system. It’s a winning proposal that Canadians could unite behind. It’s also a reform that our country badly needs. To simplify our tax system, I propose creating a gradually escalating income tax scale with a clear and logical progression in tax rates. It would be

Schools have role to play in helping children grow strong and healthy

July 25, 2023

Most parents would surely agree that our nation’s number 1 priority should be the health of our children. But if the old saying that “you are what you eat” is true, then our kids are in a lot of trouble. Many children are eating unhealthy, non-organic foods at home, at school and at fast food restaurants. It’s one of the main reasons why we’ve seen an alarming rise in illnesses such as obesity and Type 2 diabetes in Canadian children. These illnesses drastically reduce the quality of life for a growing number of children and hinder their ability to learn. They also cost our health-care system millions of dollars each year. The universal hope and prayer of Canadian parents is