Canada is underperforming most of the other developed countries and that has far-reaching implications
“The Canadian economy is on track to be the worst performing economy out of 38 advanced countries over the next 40 years, with the lowest growth in real GDP per capita,” according to David Williams, the vice-president of policy at the Business Council of British Columbia.
“Young Canadians entering the workforce today are facing 40 years of stagnant average real incomes, according to OECD projections.”
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That is a dire warning to policymakers in Canada, one that demands a need to address the underlying causes.
“If they don’t” Williams says, “there will be a decline in real incomes relative to all other advanced OECD countries.