Blazingcatfur

Most Canadians have never heard of Farm Credit Canada (FCC).

FCC is one of Ottawa’s largest financial institutions. It’s a crown corporation that belongs to all Canadians. It manages a loan portfolio approaching $60 billion, lends more money to agriculture than any other institution in the country and has generated roughly $5.6 billion in cumulative net income over the past decade. Yet outside agricultural circles, it remains virtually invisible. Perhaps that’s because few Canadians realize they ultimately stand behind the risks FCC assumes as a Crown corporation.

Is Canada a country that cannot build? Increasingly, there seems to be a case for that sad sentiment. Housing targets are set, only to be constantly missed. Subways and tramways suffer endless delays and budget blowouts. And despite decades of talk, we lack the infrastructure to get resources to the coast and international markets, which is especially crushing in the current trade war.

That inability to build doesn’t come out of nowhere. It arises out of a broken process. As yet one more example: last week, the federal government directed Alto — the high-speed rail project from Toronto to Quebec City — to “consider” adding a station in Kingston. It’s a small but illuminating example of Canada’s problems.