Sean Speer and Taylor Jackson: Slow economic growth is the biggest challenge facing Canada (The Hub)
The Carney government has set as “core mission” boosting Canada’s economy. And for good reason.
Slow economic growth, flat-lined or declining business investment, and poor productivity have contributed to declining average living standards. Progress on these economic challenges won’t solve all of the country’s problems, but it would certainly help.
Start with some facts. Between 2016 and 2023, Canada experienced a dramatic demographic shift. The country welcomed an average of more than 600,000 newcomers annually—or roughly double the intake seen in the 2000s. This surge made Canada the fastest-growing country in the G7. But while our population has been growing quickly, our economy hasn’t kept pace.
Canada’s real GDP per capita has stalled—flatlining in recent quarters and showing weak growth over the longer term ...
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