The Royal Commission on Canada's Economic Prospects was initiated by the
Louis St. Laurent
Louis Stephen St. Laurent (; February 1, 1882 – July 25, 1973) was a Canadian lawyer and politician who served as the 12th prime minister of Canada from 1948 to 1957.
Born and raised in southeastern Quebec, St. Laurent was a leading la ...
government in order to develop recommendations regarding the Canadian economy. Chaired by
Walter L. Gordon
Walter Lockhart Gordon (27 January 1906 – 21 March 1987) was a Canadian accountant, businessman, politician, and writer.
Education
Born in Toronto, the son of Lieutenant-Colonel H. D. L. Gordon, DSO, he was educated at Upper Canada Colleg ...
, its 1956 and 1957 reports were representative of a period of growing concern for
Canadian nationalism
Canadian nationalism () has been a significant political force since the 19th century and has typically manifested itself as seeking to advance Canada's independence from the influence of the United Kingdom and United States. Since the 1960s, m ...
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 ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position .
A ministry of finance's portfolio ...
a decade later, he commissioned
Mel Watkins
Melville Henry Watkins (May 15, 1932 – April 2, 2020) was a Canadian political economist and activist and professor emeritus of economics and political science at the University of Toronto. He was a founder and co-leader with James Laxer o ...
to conduct a further investigation into foreign ownership of the Canadian economy, resulting in the "Watkins Report".
The
Canada Development Corporation 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 or nationalist economics is an ideology that prioritizes state intervention in the economy, including policies like domestic control and the use of tariffs and restrictions on labor, goods, and capital movement. The core bel ...
*
List of Canadian royal commissions
*
Royal commission
A royal commission is a major ad-hoc formal public inquiry into a defined issue in some monarchies. They have been held in the United Kingdom, Australia, Canada, New Zealand, Norway, Malaysia, Mauritius and Saudi Arabia. In republics an equi ...
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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