April 19th federal budget must lay out a plan for economic growth

by Goldy Hyder – President and Chief Executive Officer, Business Council of Canada

Statement by Goldy Hyder, President and CEO, Business Council of Canada:   

Ottawa, March 23, 2021 – With an end to the COVID-19 pandemic now in sight, Canadians are looking for hope when it comes to jobs and the economy.

To build confidence, the federal government must present a comprehensive and credible plan that spurs investment, private sector job creation, and long-term economic growth.

In our letter to Finance Minister Chrystia Freeland, we urged the government to embrace an economic strategy that builds on Canada’s natural advantages while improving the ability of Canadian companies and workers to succeed in the global economy. 

The letter highlights seven key recommendations to promote an inclusive and sustainable recovery:

Training and re-skilling: Work with employers, provinces and territories to develop a comprehensive skills agenda that equips displaced workers for new careers in sectors where talent is in demand.

Child care and early learning: Enhance the quality, reliability, affordability and flexibility of early learning and child care services across the country.

Immigration: Facilitate the entry of skilled immigrants and make it easier for new permanent residents to find jobs by enhancing recognition of foreign credentials.

Business confidence: Commit to a responsible and prudent fiscal plan that avoids unnecessary new spending, provides regulatory predictability and includes a clear fiscal anchor.

Innovation ecosystem: Embrace a demand-side, mission-driven approach to innovation policy that sets clear national goals with the creation of an agency similar to the U.S. Defense Advanced Research Projects Agency (DARPA).

R&D and intellectual property: Help Canadian researchers and entrepreneurs by adopting a Germany/Fraunhofer approach to R&D commercialization and IP protection.

Climate change: Accelerate public and private investment in GHG-reducing technologies such as carbon capture, utilization and sequestration (CCUS), nuclear energy, hydrogen and other low-carbon energy sources.

“With an end to the #COVID19 pandemic now in sight, Canadians are looking for hope when it comes to jobs and the economy.” Read our CEO @GoldyHyder’s statement on #Budget2021 and the need for a credible plan for #GrowingStrongerTogether.