If 2021 was the year Canada rounded the corner on the pandemic recession, 2022 is the year it can accelerate out of a decades-long pattern of slowing growth.

Though a pandemic recovery is in sight, a slow-growing labour pool and lacklustre record on investment and innovation have set a low speed limit for the economy.

The greener, more digital and tech-enabled society accelerated by COVID-19 has opened new pathways for growth that could ignite spending, investment and innovation. Businesses and households are lined up to propel this change, but their efforts are likely to be hampered by near and long-standing obstacles.

As it starts its new mandate, the federal government can help set a new course. Growth-oriented federal and provincial government policies can be the foundation for the increased private investment needed to boost Canada’s growth trajectory.

Other countries are already remaking their economies in a bid to reverse the secular trend of low and declining economic growth rates. Canada does not want to be left behind. With a skilled workforce, strong record as a tech and energy innovator, and investment opportunities, it doesn’t have to be.

To read the full article by Cynthia Leach, please click here