Did you know? "The United States is on track to produce almost 50 per cent more per person than Canada this year" - Trevor Tombe He also reports that the difference between the productivity levels in Canada and US has not been this pronounced since the 1890's, over 120 years ago!
Basic changes can be made at the policy level:
Interprovincial trade barriers
Regulatory burdens
Taxation system
The issues surrounding productivity were discussed Canada’s Productivity Summit in Alberta where numerous experts met to advance the causes and potential solutions to the productivity woes in Canada. Other public policy debates take place in Canada. The Premier of Alberta suggested that the fact major energy infrastructure projects were side-tracked is a leading reason for lagging productivity. This may be a reason in Alberta, most certainly, but it doesn't explain what has happened in Ontario. Economist Tim Sargent, director of domestic policy at the Macdonald-Laurier Institute mentioned in a report that "Canadian investment dropped from 2.1 per cent annually (between 1998 and 2019) down to only 0.5 per cent between 2020 and last year". This is a 75% fall and should raise all alarms everywhere (especially in Ottawa). But it doesn't. These productivity forums need to reach out of academics and industry now and reach main street debates.
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