Anne McLellan explains in the Financial Post why anemic private sector investment is one of the main culprits in Canada's middling economic growth over the past decade. The real stock of business capital per worker outside of housing is about what it was a decade ago, and well below records.
She says that businesses and all orders of governments need to take ownership of the problem. For corporate Canada, this means relying more on capital spending and training as workers become harder to find.
For governments, it means a heightened emphasis on long-term thinking—beyond the next election—and on ensuring businesses have the tools to meaningfully take part in Canada's efforts towards reconciliation with Indigenous peoples.
Anne and Lisa Raitt write this op-ed as co-chairs of the Coalition for a Better Future.