We need productive public investment now for a clean and smart post-pandemic economy if we are to avoid long-term unemployment and economic stagnation.
Climate action, the Throne Speech said, 'will be the cornerstone of our plan to support and create a million jobs across the country.' But how will this happen? What is the strategy? Is there a plan?
We have yet to face up to the fact that we don’t have an economy that can deliver. We have to rebuild better out of the wreckage of the pandemic econmy for a new, post-pandemic world.
It’s time we came to grips with the reality that Canada does not have an economy today that can deliver good jobs and the wealth we need to sustain and expand the public goods we value.
While excellent at starting really smart new companies, Israel, like Canada, has much less success in turning these into locally owned multinationals with the potential to create thousands of domestic jobs.
We should, as Barry Eichengreen suggests, use the current economic crisis to spark and accelerate a transition, to replace what has been destroyed and improve our potential growth rate.
It is time for our business groups and universities to come up with serious ideas rather than just lobbying for more favours or money.
September's Throne Speech should outline how the government will help create a better deal for low-income Canadians, in the short and long term.