In this new Ontario 360 report, authors Sean Speer, Drew Fagan, and Luka Glozic examine current economic efforts by Canadian policymakers, how they compare to other jurisdictions, and how to best plan for the post pandemic future.
The recent spike in COVID-19 cases has caused Canadian policymakers to focus on the pandemic at the possible expense of post-pandemic planning. Managing the spread of the virus understandably remains the overwhelming priority. But, as Munk School fellow Robert Asselin recently wrote, we cannot afford to set aside post-pandemic policy development indefinitely. Several jurisdictions, including many provinces and U.S. states, are developing long-term growth strategies rooted in the goal of inclusive growth. The Province of Saskatchewan, in particular, has a strong model that relies on evidence and data to set out clear, measurable goals that are accompanied by policy actions to support higher rates of economic growth and productivity. The Canadian government should follow suit with its own long-term growth strategy as part of its post-pandemic recovery planning. Ottawa should dedicate itself to a plan focused on long-term economic growth that is inclusive and driven by higher rates of productivity.
