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of 17 countries on expected growth in per-person GDP through to 2060.
Moreover, according to the study, which covers 32 industrialized countries for the periods 2020-2030 and 2030-2060, Canada will record the lowest level of growth in per-person GDP in both periods. Specifically, Canada’s average per-person GDP will grow from US$47,228 to US$64,315 over this period . Among the 32 countries analyzed, Canada will fall from the 16by 2060 as other countries record stronger growth.
A different way to think about Canada’s current abysmal growth prospects is relative to the OECD average. In 2020, Canada’s average per-person GDP was relatively close to the 32-country average for the OECD . By 2060, due to poor economic growth, Canada’s per-person GDP is expected to be more than 20 per cent less than the OECD average .
There’s a solution, but it requires the Trudeau government to fundamentally reset policies and return to the ideas of the, which was the general agreement among most political parties across the country between the early-1990s and 2015 on the efficacy and soundness of balanced budgets and reducing debt, lower but more effective government spending, tax relief , and more neutral industrial policies aimed at creating a hospitable investment environment rather than picking winners and losers.
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