Unleashing the growth potential of key sectors / Advisory Council on Economic Growth.: F2-256/2017E-PDF

"The Council believes the first step to prosperity is ensuring the right conditions are in place to promote growth in all areas in the Canadian economy. However, we also believe that certain sectors of the economy have significant untapped potential that will require focus and attention to unlock. To realize this potential, the Council suggests an approach that uses carefully selected policy actions to remove obstacles (for example, policy barriers such as excessive regulations, interprovincial trade barriers, and inefficient forms of subsidies; or market challenges such high cost of information acquisition, inadequate physical infrastructure, and shortages in skilled labour), and seize opportunities (for example, by convening private and public actors and setting a sector-wide aspiration). We recommend identifying a few sectors (e.g., 6-8) where Canada has a strong endowment, untapped potential, and significant global growth prospects. We then recommend Canada take a focused approach that removes barriers and galvanizes the sector around a bold growth agenda. Peer jurisdictions like the U.S., the U.K., New Zealand and Australia have begun to move toward this approach, and Canada should do the same"--Intro., p. 2.

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