Saturday, May 21, 2022
No Result
View All Result
  • Media
Support Us
Macdonald-Laurier Institute
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
  • Experts
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Energy
      • Health Care
      • Justice
      • Social issues
      • Social licence
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
  • Experts
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Energy
      • Health Care
      • Justice
      • Social issues
      • Social licence
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media
No Result
View All Result
Macdonald-Laurier Institute

Principles for getting Canada back to work and prosperity: New MLI paper by Mintz, Coates, Cross and Savoie

May 22, 2020
in COVID-19, Domestic Policy Program, Donald J. Savoie, Economic policy, Economy Policy - papers, Jack Mintz, Ken Coates, Latest News, Papers, Philip Cross, Releases
Reading Time: 3 mins read
A A

OTTAWA, ON (May 22, 2020): The COVID-19 crisis and subsequent lockdown have left Canadians facing a dark and uncertain economic future. As unemployment climbs, the bills pile up, and economic activity struggles, the decisions made in the next weeks and months will determine the trajectory of Canada’s economic recovery.

In a new publication by the Macdonald-Laurier Institute titled “Getting on the Road to a Post-COVID Economic Recovery: Principles for a Return to Work and Prosperity,” some of MLI’s leading thinkers on economics, public policy, and governance provide a guide for policy-makers as they face a wide range of economic challenges. According to the authors, Canada’s federal government should:

  • start thinking about the post-COVID recovery now;
  • focus on getting people back to work, not sweeping, costly new programs like a guaranteed annual income;
  • stop the self-harm and revive the Canadian energy sector;
  • be prepared to take some harsh medicine for its COVID-19 hangover;
  • adjust its climate change priorities.

In the first essay, MLI Munk Senior Fellow Philip Cross warns that the state of the economy is likely worse than most economists and policy-makers appreciate. As Cross explains, “the failure of economists to understand how fast and severely the economy is contracting implies that government spending will increase much more than anticipated, while simultaneously the loss of revenue is being under-estimated.”

In this context, Cross argues that the federal government must avoid falling into the trap of expanding government programs and extending bailout packages which historically have done little to meaningfully stimulate economic growth. Moreover, Cross writes that Ottawa must be wary of policies that would favour the wealthy and exacerbate existing income inequality.

MLI Distinguished Fellow Jack Mintz also argues that the COVID-19 crisis cannot serve as an excuse to justify a radical expansion of government intervention into the economy. In his essay, Mintz calls on the federal government to refocus its efforts on getting Canadians back to work rather than allowing programs like the CERB to evolve into a long-term basic income

“As we begin to recover from this pandemic, the last form of intervention we need is to discourage people from pursuing new opportunities and jobs that will eventually become available,” explains Mintz.

Furthermore, MLI Distinguished Fellow Donald Savoie notes in his essay that, with a ballooning deficit, the federal government will need to make some tough choices to keep its finances stable. However, Savoie warns that, unlike the federal deficit fighting efforts of the 1990s, Ottawa will not be able to offload responsibilities to over-indebted provinces. It will need to take a hard look at the rapid expansion of federal programs and spending over recent years.

Savoie writes that “the impact of COVID-19 is not limited to the private sector. Politicians will need to strike very difficult decisions and sell them to Canadians.”

No matter how the government chooses to move forward, the recovery will need to be private sector-led. In a pair of essays, MLI Munk Senior Fellow Ken Coates urges the federal government to unshackle the energy sector in Western Canada. He adds that the economic self-harm the federal government has done to the Canadian oil-and-gas industry must stop.

Coates also says that Ottawa must adjust its climate change priorities in this context. While combatting climate change must remain a priority, this goal cannot come at the expense of a timely return to prosperity for Canadians, or add to the already crushing financial burden on individuals and businesses.

“Canada requires a climate change agenda, just not the one that it is currently following,” says Coates.

Together with their their five essays, Cross, Mintz, Savoie, and Coates argue that the goal of a return to prosperity and fiscal sustainability must supersede pre-pandemic political priorities. The focus now must be on limiting the damage to government finances while getting Canadians back to work and the country back to creating wealth as quickly as possible.

To learn more about how Canada ought to pursue a post-COVID economic recovery, read the full collection of essays here.

For more information, media are invited to contact:

Brett Byers
Communications and Digital Media Manager
613-482-8327 x105
brett.byers@macdonaldlaurier.ca

Tags: COVID-19Donald Savoieeconomic policyeconomyJack MintzKen CoatesPhilip Cross
Previous Post

Portapique residents trying to move on: Christian Leuprecht on CTV News Atlantic

Next Post

In Canada, the tide of opinion is turning on China: Charles Burton in the Globe and Mail

Related Posts

Putin’s biggest achievement in Ukraine: Strengthening and uniting global democracies
Foreign Affairs

Putin’s biggest achievement in Ukraine: Strengthening and uniting global democracies

May 20, 2022
MLI experts available to comment on Canada’s ban on Huawei from 5G
Latest News

MLI experts available to comment on Canada’s ban on Huawei from 5G

May 19, 2022
The least-cost path to net zero needs oil and gas: Jack Mintz in the Financial Post
Energy

Ottawa’s “just transition” needs to be challenged for encouraging fantasy around oil and gas: Heather Exner-Pirot in the Calgary Herald

May 18, 2022
Next Post
Canada should show steadfast resolve in dealing with China: Duanjie Chen for Inside Policy

In Canada, the tide of opinion is turning on China: Charles Burton in the Globe and Mail

Macdonald-Laurier Institute

323 Chapel Street, Suite #300
Ottawa, Ontario
K1N 7Z2 Canada

613.482.8327

info@macdonaldlaurier.ca
MLI directory

Follow us on

Newsletter Signup

First Name
Last Name
Email Address

Support Us

Support the Macdonald-Laurier Institute to help ensure that Canada is one of the best governed countries in the world. Click below to learn more or become a sponsor.

Support Us

Inside Policy Magazine

  • Current Issue
  • Back Issues
  • Advertising
  • Inside Policy Blog
  • Privacy Policy

© 2021 Macdonald-Laurier Institute. All Rights reserved.

No Result
View All Result
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
  • Experts
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Energy
      • Health Care
      • Justice
      • Social issues
      • Social licence
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media

© 2021 Macdonald-Laurier Institute. All Rights reserved.

IDEAS CHANGE THE WORLD!Have the latest Canadian thought leadership delivered straight to your inbox.
First Name
Last Name
Email address

No thanks, I’m not interested.