TORONTO—A study by professional services firm Deloitte says that Canada’s prosperity is at risk.
Bold bets for our country: It’s time for deliberate action finds that with a GDP growth rate of only 1.4 per cent and productivity growth that fails to keep pace with our key competitors, Canada’s standard of living is in danger of declining. That is, unless government and business leaders shake things up.
“In order for Canada to assume its place as a dominant player in the global economy we need courageous leaders to engage in new levels of collaboration amongst businesses, governments and educational institutions. We all need to think and act differently and with urgency to guarantee the future prosperity of our nation,” said Frank Vettese, managing partner and chief executive, Deloitte.
Deloitte polled public and private sector leaders from across the country on the best ways to improve Canada’s productivity over the next 25 years.
The firm found three key areas which it says can put our country on the path to success:
“Canada is faced with technological disruption at an accelerated pace and intense global competition. Unless we make bold decisions and have the public and private sectors more tightly collaborating, the competitiveness of our economy and our standard of living will be seriously threatened,” said Duncan Sinclair, vice chair, Deloitte in Canada.