We are obviously facing an economic growth crisis
The Fraser Institute of Vancouver, one of the outstanding public policy think-tanks of North America, last week issued a summary entitled “24 facts for 2024 — Canadians should understand the impact of government policies,” and the message is sobering.
I am much indebted to Fraser’s Niels Veldhuis and Peter Brown for most of the statistics in this column. Fraser starts with the distressing statement that while per capita income in Canada has effectively stagnated from 2016 to 2022, moving only three per cent from $54,154 to $55,863, the United States per capita income in the same time has risen more than four times as much, from $65,792 to $73,565.
“The average Canadian now earns $17,700 less than the average American.” According to the Organization for Economic Cooperation and Development, Canada will be the worst-performing advanced economy in the world from 2020 all the way to 2060.
Canada is obviously facing an economic growth crisis, primarily due to the decline in business investment, which is in itself the inevitable consequence which has been widely predicted (including in this column), of federal government policies that could not have produced an alternative result.
For the rest of this column: https://nationalpost.com/opinion/conrad-black-liberals-taxing-canadians-into-oblivion