A new economic agenda is needed to boost opportunities for workers 

September 5, 2024, Ottawa, ON — At a time when Canada’s GDP per capita is declining, a new report from the Business Council of Canada (BCC) calls on policymakers to take a different approach to economic strategy. 

“Engines of Growth” makes the case for putting workers at the center of a new economic agenda that is more technology driven – one that focuses on production over consumption and encourages competition at scale in technologically advanced industries. 

“The data clearly show that for the past 15 years, an unfocussed and patchwork approach to economic growth has failed to improve the economy or lead to material benefits for Canadians,” says the report’s author Robert Asselin, BCC senior vice president, policy and former advisor to two prime ministers. “We need to shift from an emphasis on subsidies and consumption to building an innovative economy that brings higher wages and better job opportunities for Canadian workers for the long term.” 

Beginning with an overview of Canada’s economic challenges and a survey of the trajectory of the global economy, the report offers a framework for igniting Canada’s engines of growth. It concludes with 17 concrete recommendations for policymakers, including a comprehensive review of the tax system, moving from low paid to high-skilled economic immigration, establishing an advanced research agency, and reforming Canada’s antiquated industry and research departments and agencies.