The Royal Commission on Canada's Economic Prospects was initiated by the
Louis St. Laurent government in order to develop recommendations regarding the Canadian economy. Chaired by
Walter L. Gordon
Walter Lockhart Gordon (January 27, 1906 – March 21, 1987) was a Canadian accountant, businessman, politician, and writer.
Education
Born in Toronto, he was educated at Upper Canada College and the Royal Military College of Canada in Kings ...
, its 1956 and 1957 reports were representative of a period of growing concern for
Canadian nationalism and questioned the government's policy of allowing control of Canada's natural resources and other business enterprises to be sold to foreign interests.
When Gordon became
Minister of Finance
A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation.
A finance minister's portfolio has a large variety of names around the world, such as "treasury", " ...
a decade later, he commissioned
Mel Watkins to conduct a further investigation into foreign ownership of the Canadian economy, resulting in the "Watkins Report".
The
Canada Development Corporation
The Canada Development Corporation was a Canadian corporation, based in Toronto, created and partly owned by the federal government and charged with developing and maintaining Canadian-controlled companies in the private sector through a mixture o ...
was created in 1971 as a result of both the Royal Commission's and the Watkins Report's recommendations.
See also
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Economic nationalism
Economic nationalism, also called economic patriotism and economic populism, is an ideology that favors state interventionism over other market mechanisms, with policies such as domestic control of the economy, labor, and capital formation, incl ...
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List of Canadian royal commissions
This is a list of Canadian royal commissions or commissions of inquiry since Confederation.
In Canada, royal commissions and commissions of inquiry are official Government inquiries into matters of national concern, either in order to look into ...
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Royal commission
Further reading
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External links
Canada's Economic Prospects, Royal Commission on ''The Canadian Encyclopedia''
Economic history of Canada
Royal commissions in Canada
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