Economy

Canadian Economic Competitiveness

A year into the COVID-19 pandemic, Canada is looking for paths forward to build back better. After a year of invaluable lessons learned, what do we know? What do we want to strengthen? What are we willing to change? What are the assets and building blocks for a stronger future?

Innovative businesses and community leaders from across the Canadian North.

What did a survey of over 800 Atlantic employers tell us about their outlook and activities to drive business growth before COVID-19? Explore our findings in five thematic reports and what it means for supporting employers as economies rebuild.

Entrepreneurship has been called the backbone of the economy. Despite the popularity of hoodie-wearing CEOs and global tech innovations, broad-based entrepreneurship that fuels local productivity and helps solve real-world problems has declined across developed nations. Canada is no exception. COVID-19 has added to the challenge. As Canada recovers, how do we get entrepreneurship back on track?

Advances in big data, algorithms and cloud computing over the past decade have contributed to the emergence and widespread use of digital platforms in Canada. Whether it be through Uber, Airbnb, Amazon, Etsy or Shopify, a growing number of Canadian workers and businesses are interacting in these platform-based and controlled markets. This phenomenon, known as the emergence of the Platform Economy, has significant implications for the Future of Work in Canada. Meanwhile, the COVID-19 pandemic has only accelerated this trend as more Canadians than ever before turn towards digital platforms to support their livelihoods.

This paper reflects a strong consensus within the Energy Future Forum that any achievable pathway to national climate and economic objectives must include a significant contribution from carbon capture technologies and from utilization and storage. In any post-COVID, “green stimulus” planning, support for CCUS expansion is even more pivotal than before.

Canada has been trailing behind global developments in sustainable finance, though serious work – particularly in the private and not-for-profit sectors – is underway to develop and implement plans that support a sustainable outcome. If the sustainable finance market is to expand, Canada must provide comprehensive data and information and also offer policy and regulatory certainty for both providers and users. This report offers recommendations in four key areas.

Political polarization is growing across the globe. In this first report on the urban-rural divide in Canada, Sean Speer teams up with Peter Loewen and the University of Toronto’s Policy, Elections and Representation Lab (PEARL) to explore the theory that a “perception gap” exists between those who live in cities, the suburbs and rural communities. How do Canadians' distorted beliefs of one another’s circumstances fuel polarization?

Investing in a Faster and Fairer Digital Infrastructure

Employers across Atlantic Canada are facing skills shortages and are turning to newcomers to fill job vacancies. Yet retention in the region remains a problem, and many immigrants who relocate elsewhere in Canada report employment as a leading cause for their decision to move away. A consultation with local business leaders, business council representatives, educators and immigrant workers provided insights into challenges and policy opportunities.

Newfoundland and Labrador's labour force is shrinking — not to mention population — and once again more people are leaving the province than arriving. PPF developed recommendations to upskill existing workers and bring in new workers at a St. John’s consultation with leaders in government, civil society, immigration, education institutions and business as part of our Atlantic Revitalization project.

Canada desperately needs to matter more in the United States. After a run-up in the decade after NAFTA, our share of U.S. imports has fallen from roughly 16 per cent to 12 per cent since the Great Recession, leaving us behind both China and Mexico. Auto production, which for decades held fast well above the level guaranteed in the 1965 Auto Pact, was part of the descent.

As we move toward rebuilding our economy, policymakers should consider the success of the Atlantic Immigration Pilot as a model for regionally focused population and economic growth, especially in smaller cities and rural communities – likely to be hardest hit by the COVID-19 reduction in immigration.

by Jasmine Gill