Sean Speer: Trudeau’s empty-calories economic agenda is failing Canada
2024/01/19 Leave a comment
Of note:
The key point here is that even if one is motivated by normative commitments to reducing inequality in our society, the answer isn’t to neglect the imperative of intensive growth. A policy agenda that sought to boost business investment and innovation in the name of increasing overall wealth wouldn’t necessarily involve a major equity trade-off. Higher GDP per capita growth is ultimately key to boosting living standards for all Canadian households.
The bigger point though is that the Trudeau government’s experiment with an extensive growth agenda rooted in high immigration and high public spending has manifestly failed to produce positive results. It may have staved off a technical recession, but it has contributed to deep recessionary conditions for Canadian living standards that are having far-reaching socio-political consequences including heightened pessimism about the future among ordinary citizens.
This growing realization has led to renewed debate about Canadian immigration policy. That’s a healthy development. We need to restore a more responsible policy that sets reasonable targets and reprioritizes high-skilled immigrants. Pierre Poilievre deserves political credit for taking a big step in this direction.
But that’s a necessary yet insufficient response to what ails Canada’s economic life. What we ultimately need is to replace the Trudeau government’s empty-calories economic agenda with a healthier mix of pro-growth policies to boost investment, productivity, and living standards.
source: Sean Speer: Trudeau’s empty-calories economic agenda is failing Canada
