Friday, July 4, 2025

Canada’s Politics and Government News Source Since 1989

Friday, July 4, 2025 | Latest Paper

Canada’s economy in an extraordinarily vulnerable position

We have made ourselves hostage to a declining industry—oil and gas—while failing to effectively develop a competitive green economy for the future. Where are the industries that will create the wealth, deliver high-value exports to pay our way in the world, raise our productivity and provide the means to sustain our way of life as oil and gas fade in significance? Near-shoring or friend-shoring won’t solve our problems.

It’s all about productivity

To put the country on track, we need some kind of independent institution to provide analysis and policy ideas on long-term growth and productivity. Our politicians, public policymakers, most corporate leaders and our universities all seem bereft of ideas.

It’s always the economy, and we’re not stupid

While politicians hurl accusations and recycle old ideological claims, their lives are mostly untouched by current financial pressures; they, along with grocery store executives, well-cushioned pensioners and parents who can somehow still afford Taylor Swift tickets.