Budget 2024

Tax and spend fiscal plan will inhibit growth

Dean Connor calls for Canada to be more ambitious when it comes to economic growth so that more Canadians can benefit from the opportunities and higher standards of living. He shares this perspective in a wide-ranging keynote address to the Canadian Club of Toronto reflecting on lessons from the past decade as CEO of Sun Life.

“We should aspire to be in the top quartile of GDP per capita growth among G7 countries or G20 countries. It would take breaking down interprovincial trade barriers, that’s worth at least a point of GDP growth right there. It requires continued education of the workforce, knowledge workers, ideally, we should get more young people to work outside Canada earlier and then come back.”

“We have to really figure out what sectors to double-down on. Technology, biotech, food security, finance, and energy and energy transition, I think energy transition is a challenge for Canada but it’s a huge opportunity. I think there is a lot of potential. I don’t think we’ve really got our act together in terms of setting goals and creating an industrial policy that supports that.”

Dean Connor, Chief Executive Office, Sun Life Financial