"...Specifically, many might not realize the Organisation for Economic Co-operation and Development forecasts Canada is, at best, expected to achieve real per capita GDP growth of only 0.7 per cent per year during 2020-2030, placing us dead last among advanced countries.
The reason behind Canada’s showing is that our labour productivity and utilization are so poor that they are predicted to rank near the bottom versus our peers over the next 10 years and, even worse, finish in last place in the three decades beyond that. Think about that and then ask yourself if any of this was addressed this week in Finance Minister Chrystia Freelands’s fiscal update?
If the federal government is truly trying to build back better, why is this shockingly poor ranking in productivity and utilization not being explored and addressed? How is the climate-change-dominated agenda going to fix this? What about households who have gone all in on leveraged real estate speculation? We’re now the fourth-highest indebted in the world at 108 per cent of gross domestic product (GDP), according to BIS data. How susceptible are we to higher interest rates and how will this impact our currency as other central banks such as the United States Federal Reserve undertake their own policy changes?..."
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