Strengthening the economy in 2024

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Dear Friends,

When I wrote to you in September, this newsletter included a short survey. We asked you to tell us what you thought the federal government’s top priority should be this fall.
 
Your responses were wide-ranging, including concerns over housing, inflation, immigration, the cost of living, taxation and fiscal policy. Based on those answers, it’s clear that economic issues are top of mind for many of you, as they are for me.
 
Our goal at the Business Council of Canada is to make our country the best place in the world in which to live, work, invest and grow. Central to that mission is ensuring that our economy is strong and beneficial to all.  
 
Over the past year we advocated for economic growth in many ways, including:

• Collaborating with former Governor of the Bank of Canada David Dodge on fiscal sustainability,
• Working with Indigenous partners on securing access to competitive capital,
• Outlining a roadmap for Canada in the energy transition, and
• Issuing a major new report on the vital link between economic and national security.

As I look ahead to the new year, made-in-Canada economic growth will be even more important as we face an increasingly volatile global landscape.
 
And as noted by Bank of Canada Governor Tiff Macklem, the next few months will be marked by further weakness in the Canadian economy.
 
But we know what it takes to get through uncertain times.
 
During the pandemic, we saw the public and private sectors working together like never before. We will need that same level of partnership and sense of urgency to tackle the current challenges in front of us.
 
This fall marked my fifth year at the Business Council of Canada, and I can say that every day has been a privilege to represent Canada’s leading and largest employers. I am inspired by their innovation, their solutions-focused leadership and their profound desire to make life better for all Canadians.
 
On behalf of the BCC team and membership, I wish you and yours a wonderful holiday season and a happy new year!

Goldy Hyder
President and CEO
Business Council of Canada

Last week at COP28 Canada joined more than 20 countries in pledging to triple nuclear energy capacity by 2050. Just days before that announcement, Senior Vice President, Policy Robert Asselin and Special Advisor Heather Exner-Pirot released a new paper highlighting Canada’s opportunity to lead the global nuclear renaissance. It urges policymakers to work with the private sector and create a supportive policy environment so that Canadian industry can compete and succeed globally. This collaboration with industry will be essential for governments to achieve the goal of the nuclear pledge.

On the Speaking of Business podcast, Goldy Hyder engages in frank and insightful conversations with Canadian innovators, entrepreneurs and leaders. Season seven of Speaking of Business kicked off with two compelling and wide-ranging interviews that should be a part of your holiday podcast playlist:

• Mike Rencheck, President and CEO of Bruce Power, discusses nuclear power, Indigenous reconciliation, and paving the way to get new projects built in Canada.

This fall, the Business Council of Canada expanded its operations to the United States and Europe:

• In Washington, D.C.: As an experienced Congressional insider, John Dickerman (Vice President, United States) represents the BCC in the U.S. with a focus on trade and investment, economic security and other cross border issues.
• In Brussels: With more than 20 years in corporate and international law, Mark Camilleri (Senior Advisor, European Union) provides advice to the BCC on European activities and issues of relevance to Canadian companies.