April 4, 2023

Episode #92: The Brief: Canada Needs a Growth Strategy: Does Budget 2023 Get Us There?

Last week, the federal government released its latest budget during a time where Canada faces many economic challenges: high inflation, low business investment, low productivity, and an increasingly competitive environment thanks to the US Inflation Reduction Act. While Canada has high environmental and economic ambitions, we need to move at a speed and scale never before seen to meet them. Does Budget 2023 help get us there?

On this episode, we’re joined by Business Council of Canada Senior Vice President of Policy, Robert Asselin to discuss Canada’s economic challenges and to reflect on Budget 2023.

We discuss the importance of Canada’s newly announced tax investment credits for hydrogen, the green electricity program, the urgent need for a Canadian advanced research projects agency, and where we fell short in the latest federal budget. We also reflect on economic policies that could change the tide, and where Canada can focus its attention in the short- and long-term to help turn things around.

In this episode:

  • Getting to know Robert
  • Canada’s three converging economic challenges
  • The United States’ Inflation Reduction Act
  • Canada’s competitiveness
  • Canada’s productivity decline
  • Improving Canada’s innovation environment
  • Budget 2023:
    • Investment tax credits
    • Regulatory framework and the sense of urgency
    • Lack of a financial anchor
  • Why printing more money won’t solve Canada’s economic woes
  • Robert’s paper with Sean Speer, “New North Star II”
  • The impact of a Canadian innovation and investment agency
  • Creating an advanced research project agency in Canada

Resources mentioned:

About The Brief

In this series, co-hosts Scott Crockatt and Brittany Brander explore the big challenges we face as Albertans; celebrate stories of growth, innovation, and prosperity; and discover bold ideas to make life better for Albertans.

Check us out on social media

Twitter: @BizCouncilAB
Facebook: @BizCouncilAB
LinkedIn: @businesscouncilofalberta
YouTube: Business Council of Alberta

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