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Canada – Where is the economic vision for the future?

Why can’t we leverage our intellectual capital to create global firms that capture new markets like other countries do? Are we positioning ourselves to be successful in the fast-growing fields of artificial intelligence, cleantech or biotech?

When it comes to talent and intellectual property, we look more and more like a farm team for American companies. Where is our comprehensive growth agenda to address the structural challenges we face, such as a rapidly aging population, low productivity, and consistent trade deficits?

Electric vehicle charging stations and $5,000 grants for home retrofits may look flashy in a government document, but they will not get the country anywhere near the low-carbon transition we aspire to. And they do little to create the advanced industries we will need to drive our economy.

The debate over how cheap our debt will be to finance in the short run is inconsequential compared to the magnitude of the fiscal and economic challenges we will face over the longer horizon if we don’t raise our game. Our peer countries are not waiting for the pandemic to end to plan their economic futures, they are already moving fast and with purpose.

Are we happy to play for the bronze or do we want to go for gold? That is, figuratively, the trillion-dollar question we should be asking ourselves.

Chosen excerpts by Job Market Monitor. Read the whole story @ The trillion-dollar question is how federal spending will position the economy for post-pandemic success | CBC News

 

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