Canada's political leaders should address the underlying problems limiting ...
OTTAWA/TORONTO - Canada’s political leaders should address the underlying problems limiting long-term economic growth and not just campaign on pocketbook issues ahead of the federal election this month, business leaders, economists and foreign investors say.
“None of the four parties as far as I’ve observed have talked at all about that side of life, how you generate actual growth, how you generate wealth, how you generate income,” David Dodge, senior adviser at Bennett Jones and former governor of the Bank of Canada, told Reuters. A survey by Sage, a cloud business management solutions company, in partnership with market research agency Angus Reid, found last Tuesday that two-thirds of Canadian business owners believe current federal government policies have not helped businesses grow.
“We have a horrendous track record of commercializing innovation,” he said. “How do we take a Canadian invention and make it global and get real scale?” The World Economic Forum on Wednesday said that Canada had dropped two spots in its global competitiveness rankings to 14th place, while Canada’s stock of foreign direct investment has climbed on average over the last five years at about half the annual pace of FDI to the United States, government data showed.
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