Sometimes you need to take a hit to make a point.
Norfolk County is making that stand, though not without some debate, after deciding to withdraw investments from the United States and redirect them into Canada and other international markets.
Tuesday at council, Councillor Doug Brunton said he understands the political climate but was concerned about the amount of money the county would be turning away.
Given Norfolk’s financial situation, Brunton questioned whether it was wise to make a decision that might result in lower returns.
Amy Fanning, Treasurer and Director of Financial Management and Planning, addressed the matter, stating that Norfolk won’t be losing money. There will still be an increase in returns, but not as much as they would typically earn with U.S. investments.
Fanning added that the goal is to make a statement now while ensuring a quick turnaround.
Councillor Tom Masschaele acknowledged Brunton’s concerns, saying it’s an unfortunate but unavoidable reality.
However, he continued, these are not normal times, and different approaches must be considered.
Staff will continue to monitor market conditions and the evolving tariff situation, providing further updates and recommendations to Council as economic changes unfold.