Societies that rely more on individuals to make decisions, rather than government, enjoy greater social progress.
According to forecasts, Canada will be the worst-performing advanced economy from 2020 to 2030.
From 2014 to 2019, seven of 15 major industries experienced a decline in investment.
Despite the dismal state of federal finances, the speech did not include the terms “deficit” or “debt."
The average annual growth rate in investment in residential structures was only 1.4 per cent.
The federal government raised the top personal income tax rate from 29 per cent to 33 per cent.
It’s important for policymakers to recognize the severity of Ontario’s growth problem, how long-lived it has been, and the challenge of weak business investment that could impede future growth.
Canada must become more attractive and competitive for business investment and entrepreneurs, and introducing a wealth tax and/or raising the capital gains tax would make a difficult situation worse.
Total business investment declined by 0.2 per cent per year between 2016 and 2019.
The only truly pro-business policies foster competitive markets and produce a more level playing field.