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Canadian business leaders urge new government to focus on economy

Much of the campaign91裸聊视频檚 focus zeroed in on pocketbook commitments
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Jim Balsillie, Council of Canadian Innovators, arrives to appear as a witness at a Commons privacy and ethics committee in Ottawa on Thursday, May 10, 2018. Business leaders want Canada91裸聊视频檚 newly elected lawmakers to shift their attention to the economy following an election campaign that they say sorely lacked a critical conversation: how to secure the country91裸聊视频檚 future prosperity. THE CANADIAN PRESS/Sean Kilpatrick

Business leaders want Canada91裸聊视频檚 newly elected lawmakers to shift their attention to the economy following an election campaign that sorely lacked a critical conversation: how to secure the country91裸聊视频檚 future prosperity.

Much of the campaign91裸聊视频檚 focus zeroed in on pocketbook commitments, which were designed to win individual voter support. Pledges emphasized redistribution of government money, with vows including tax cuts and credits, rather than detailed game plans on how to lift Canadian sectors.

The election91裸聊视频檚 result 91裸聊视频 a minority mandate for the Liberals 91裸聊视频 will likely add an additional layer of uncertainty about the future of economic policy. To pass legislation, the Liberals will now have to find partners among their rivals, which creates doubts around what the government will eventually deliver.

The business community is urging the incoming government to build blueprints on how best to boost growth and to ensure Canada keeps up with the rest of the world.

91裸聊视频淟ack of proposals or even discussions of a prosperity strategy by candidates seeking public office is very disconcerting,91裸聊视频 Jim Balsillie, former co-CEO of Research In Motion and chair of the Council of Canadian Innovators, told The Canadian Press in an email.

91裸聊视频淩egardless of who governs, the only way we can pay for this country is by having a strategy to generate new revenues on a per-capita basis.91裸聊视频

Balsillie, whose council represents some of Canada91裸聊视频檚 fastest-growing firms, said in today91裸聊视频檚 economy the most-valuable assets are intellectual property and data. He warned the economy will continue to face head winds unless Canada makes a real effort to encourage the commercialization of these assets.

Analysis:

Even with the global economy showing signs of a slowdown, the political parties largely steered clear of any thorough debate on the state of Canada91裸聊视频檚 economy.

Dennis Darby, president and CEO of Canadian Manufacturers and Exporters, said the party leaders probably decided against putting forward growth-boosting strategies because some indicators 91裸聊视频 such as the low unemployment rate 91裸聊视频 have suggested the economy has been doing well.

He argues that Canada91裸聊视频檚 performance has been far less encouraging in other areas 91裸聊视频 including weaknesses in GDP per capita, labour productivity relative to other OECD countries, capital investment and growth in exports.

91裸聊视频淲e were disappointed, I think our members were disappointed, that none of the parties really had a substantive discussion or emphasis on building the economy,91裸聊视频 said Darby, whose organization represents 2,500 manufacturers.

91裸聊视频淲e91裸聊视频檙e never against consumer tax cuts, but you have to be: 91裸聊视频榃hat are we doing to try to get companies to invest?91裸聊视频 91裸聊视频

The focus of the campaign became more about the qualities of the leaders than the qualities of party proposals, Darby added.

He said the Liberals91裸聊视频 minority government likely means at least part of their platform 91裸聊视频渋s out the window,91裸聊视频 leaving business groups trying to figure out what they91裸聊视频檙e actually going to do.

With 10 days remaining in the 40-day election campaign, the Canadian Agri-Food Trade Alliance took an unusual step of sending an open letter to party leaders to express its disappointment that there had been no serious discussion about how to ensure Canada91裸聊视频檚 91裸聊视频渓ong term economic success91裸聊视频 by growing exports.

Claire Citeau, the alliance91裸聊视频檚 executive director, said Friday the lack of a deep campaign debate about trade was particularly troubling at an uncertain time of international trade tensions and threats of expanding protectionism.

She said Canada91裸聊视频檚 agri-food exports reached a record level in 2018 and are a big contributor to the country91裸聊视频檚 economic growth and employment.

But Citeau said the opportunities for further growth 91裸聊视频渁re being threatened by 91裸聊视频 the uncertainty and erosion of predictability.91裸聊视频

A spokesman for Finance Minister Bill Morneau said, after the new cabinet is sworn in on Nov. 20, the Liberal government will look at measures to grow the economy, increase productivity and add to the investments it made during its first mandate.

91裸聊视频淥ver the last four years, our government has worked hard to grow the economy, strengthen the middle class, and invest in making industries more competitive and innovative,91裸聊视频 Ryan Dunn said in an email.

Andy Blatchford, The Canadian Press


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