Growing stronger together
An economic plan for Canada
Canada needs a bold new economic vision to keep up with a rapidly changing world. We’re reaching out to policy experts, partners and stakeholders, building support for a growth strategy that will ensure a better future for all Canadians.
A health and economic crisis
COVID-19 has affected the lives and livelihoods of millions. It has strained Canada’s public finances and exacerbated long-standing weaknesses. Addressing the many challenges facing the country will require teamwork. That’s why we released the report “Powering a Strong Recovery: An Economic Growth Plan for Canada” to spark a national conversation on the path forward. Our goal is to ensure Canadians succeed in an increasingly competitive post-pandemic world.
Framework for growth
There is no easy solution to improve Canada’s economic performance and we don’t pretend to have all the answers. But we’re convinced that a sustained and inclusive growth plan depends on four main pillars:
- People: The foundation of our economic success resides in our human capital. We must cultivate it and enhance it.
- Capital: We can build a stronger economy and create more jobs by attracting investment, nurturing new ventures, and encouraging existing businesses to expand.
- Ideas: Wealth creation is increasingly driven by knowledge and innovation. We must champion and harness made-in-Canada ideas.
- Sustainability: Partnership with the private sector is essential to ensuring Canada meets or exceeds its climate commitments.
Success requires partnership
We’ve heard from a wide range of business and labour representatives, economists, non-profit groups and other organizations. We also partnered with the Public Policy Forum to hold three roundtable discussions on child care, innovation and skills development.
Leading up to the last federal budget, we identified seven key recommendations to help foster job creation, drive investment and unlock productivity. While the budget contained a few good initiatives, more is needed to position Canada for long-term success.
Above all else, we need business, labour and governments working together.
Latest
We’re beating back COVID. It’s time to focus on our future.
“I hope all political parties will clearly articulate their economic growth strategies and put them front and centre in their platforms.” Goldy Hyder’s latest LinkedIn article is the first in a series focused on ideas to ensure Canada’s long-term economic success.
Building a better Canada
We are defeating COVID-19, but we need to start preparing for other challenges that lie ahead and position Canada for long-term success. In his latest video message, Goldy Hyder lays out what needs to be done to build a brighter future for our children and grandchildren.
Budget 2021 is well-intentioned but government’s spending plans underscore need for strong economic growth
The 2021 federal budget includes a number of important initiatives that should contribute to job creation and recovery, the Business Council of Canada (BCC) says, but it lacks an overarching plan for long-term economic growth and competitiveness.
A growing economy is essential to address Canada’s challenges
In our pre-budget letter to Chrystia Freeland, we urge the federal government to deliver a budget that focuses on long-term growth and job creation.
Latest Initiatives
Beyond COVID: growing stronger together
On the day April 19th was announced as the date for the federal budget and the same week as the Ontario and Quebec budgets, Canadian Club Toronto hosted a timely conversation on rebuilding Canada’s economy.
Some of what we heard
“Getting more people involved in the economy is a critical component to long-term growth.”
Frances Donald, Managing Director, Chief Economist & Head of Macro Strategy at Manulife Investment Management
“We need a nimble just-in-time skilling system. [One] that responds to the needs of industry and reflects the underlying foundational skills of the existing workforce and can inform the education system on what kind of new programs we need to build.”
Arvind Gupta, CEO, Palette Inc.
“For a long time, we talked about a made in Canada strategy. But it’s got to be made in Canada, owned in Canada. Without that ownership piece, you don’t have the ability to move freely in the global market.”
Natalie Raffoul, Managing Partner, Brion Raffoul Intellectual Property Law
Tell us what you think
Canada’s economic success requires ideas that build on our strengths, squarely address our weaknesses, and reduce the risks from future disruptions.
