The Trudeau government does not appear to have thought too much about productivity
until it was jolted from its complacency by President Joe Biden’s $500-billion Inflation Reduction Act.
It is an approach, judging by productivity data, that is failing — a shortcoming that will be felt in the relative decline in the living standards of future generations. Proof that it doesn’t have to be this way came in the same graph, in the form of Australia’s performance. In 1981, it was in 10th spot; by 2021, it was sixth; and it is forecast to rise to fifth by 2060, with GDP per capita $30,000 higher than Canada.
“This is how a country like Australia is gaining ground and generating wealth as a nation that they can take and invest in some of the necessary social programs,” said Cross.
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