Budget 2024

Tax and spend fiscal plan will inhibit growth

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Dear Friends,

If the speculation is accurate, we’ll soon find ourselves in a federal election campaign, the second in less than two years.

Our country has changed dramatically since October 2019. We’re now more than seventeen months into a pandemic, which every day presents new challenges. Although we are seeing positive signs of economic recovery, Canada’s fiscal situation remains a concern. Left unchecked, we risk creating a heavy debt burden for future generations.

I believe Canadians are looking for hope, but for that they need to see a long-term vision. Plans for economic growth should be front and centre in any upcoming election campaign. If we want to ensure a better future for our children and grandchildren, then we must get more ambitious about growing our economy and building a vibrant, sustainable, inclusive Canada.

That’s why I recently wrote to the federal party leaders, thanking them for their service and emphasizing the need for economic leadership at this critical point in our history.

I will be looking forward to robust debate and discussion about Canada’s future prosperity.

Until next time,

Goldy Hyder
President and CEO
Business Council of Canada

My colleague Robert Asselin recently joined Jean-François Perrault, Scotiabank’s chief economist and a former assistant deputy minister at the Department of Finance, in publishing a timely op-ed in The Globe and Mail. They identified two important economic objectives that political parties should consider when formulating their election platforms. Their conclusion resonates strongly with me: “The policy choices that we make in the next few years will shape the Canada of 2050, and our country’s standing in the global economy.”


Last week, the Business Council joined a diverse group of more than 60 organizations to help launch the Coalition for a Better Future. Led by an advisory council chaired by former federal cabinet ministers, Anne McLellan and Lisa Raitt, the coalition’s goal is to build consensus around an ambitious economic vision for the country and a plan for achieving it. The coalition will convene a summit of Canadian thinkers, leaders, and policymakers on October 27-28 in Ottawa.