Oct. 8, 2019

The debate – It's spend and out catch phase one another

Finances hardly enter in the equation with the Liberals, NDP and the Greens. Taxing the wealthy will not cover the costs needed and the likelihood is that investment will go elsewhere as it now is in the oil and gas sector. So we are left with higher taxes, lower growth and more debt. Doesn’t anyone see what has happened in the last four years? 

What about our health wait times, burgeoning health costs. Little talk of that. 

People’s Party Maxime Bernier knows and is courageous to say there is no climate emergency. An important issue, yes, an emergency, no. But everyone wants an emergency – wants the hysteria. Forget the rationale. 

Hence, this gets in the way of meaningful economic development issues as each leader tries to out bid one another on the environment file.

We need our resource industries. They are important drivers of our economy. Even if you wanted to believe in a fossil-free economy, no one knows how you can get there. Solar and wind can’t do it. They need fossil fuels to keep the power running when the wind doesn’t blow and the sun doesn’t shine. And batteries? They are not green. What a joke that is! And China opened 60 more coal power plants last year. Five hundred scientists wrote the UN in the last few weeks declaring there is no emergency and mitigation is hurting and costly.

The ease of doing business in Canada is abysmal. The world bank says we are 64th in the world. No leader talks of this! 

We need an economy that adapts to new technologies both within the resource sector and outside it.

But our ability to innovate and adapt to new technologies is one of the worst in the developed economies, according to the World Competitiveness Report. I quote from the report:

"Among the causes is the relatively low spending on R&D (1.6% of GDP, below the OECD average of 2%, and less than half the share of the biggest spenders). As for the softer drivers of innovation and competitiveness, Canada ranks first in terms of diversity (81.7). Yet its level of ICT adoption is very low (68.6, 34th) and represents the weakest aspect of Canada’s performance. The cost of mobile data and services is one of the highest among advanced economies, which hinders adoption."

 Our tech leaders said this a couple of days ago

Benjamin Bergen, executive director of the Council of Canadian Innovators (CCI), the national business association whose membership of more than 100 CEOs, issued the call to the political party leaders on Saturday.

“Canada doesn’t have a start-up problem, it has a scale-up problem, and therefore it has a wealth creation problem” says  “When less than one percent of Canadian firms ever scale beyond 500 employees, it’s clear Canada needs an updated economic strategy that enables domestic innovators to rapidly scale globally in the 21st century economy. Without such a plan, Canada’s national prosperity is at risk.”

  • No talk of this.The silly Infrastructure Bank is an embarrassment obsessed by the big and unwieldy, not the innovative and the nimble. No talk of that! 
  • And then we have a law breaker, and obstructor of justice as PM and it hardly makes a difference. 
  • We keep denigrating our neighbour, the US, which is the Number One Competitive Economy on the planet and we can’t make the top ten (World Competitiveness Report 2018.)

 No one will tell the truth.