After the COVID crisis has passed, Ottawa should find ways to encourage private-sector investment and hiring.
Ten of 15 industries spent less on capital assets in 2017 than in 2014.
Private-sector capital spending in the U.S. picked up substantially after President Trump took office.
Statistics Canada’s latest survey on investment intentions for 2018 found that private-sector investment is slated to fall again this year.
In a famous explanation of why voters choose the governments they do, a 1990s-era adviser to Bill Clinton remarked, “It’s the economy, stupid.” That’s not wholly accurate; voters toss parties out (and vote parties in) on matters other than unemployment rates and incomes. The recent Alberta election is only the most obvious example.