‘Economic prosperity at risk’: Business groups warn parties ignoring major challenges facing Canada — like a recession – by Kevin Carmichael (Financial Post – October 5, 2019)


I’ve never been much for Ayn Rand, but man, this election threatens to turn thinking people from all segments of the political spectrum into fans of Atlas Shrugged.

With all due respect to the hard working men and women of the middle class and those eager to join them, getting ahead will require more than voting for a bundle of boutique tax credits or kitschy ideas such as camping vouchers.

There are moments in history, and we’re in one. The climate is at an inflection point, and neither of the two parties with the best chance of winning the election has had the courage to present a plan that will allow Canada to meet its obligations under the Paris Agreement.

But at least the environment comes up on the campaign trail. There are decent odds that the next government will confront a recession, but no party has seen fit to factor that possibility into their spending programs.

No matter what happens in the short term, the economy will continue to leave behind industries on which Canada has built its prosperity. The contributions by oil, automobile production and retail banking all will shrink as a percentage of gross domestic product, replaced by the winners of the transition to a digital economy.

For the rest of this article: https://business.financialpost.com/news/election-2019/canadas-natural-governing-parties-have-met-a-big-moment-in-history-with-small-campaigns?video_autoplay=true

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