ROSLYN KUNIN
OTTAWA – Forget the noise from south of the border—Canada has its own crisis at home. After a decade of poor economic choices, declining incomes and leaders more focused on ideology than prosperity, it’s time for Canadians to choose a new path.
Prime Minister Mark Carney now leads the Liberal government, having taken over from Justin Trudeau. But despite the change in leadership, the direction of policy remains the same, and the consequences for Canadians continue to grow.
Canadians were not happy with the Trudeau government, and with cause. We were hit hard in the pocketbook. Like the frog in the pot that is set to boil, most of us have not yet noticed how much poorer we have become. From 2014 to 2024, Canada’s annual per capita income went from $51,025 to $51,815. Over the same period, per capita income in the United States went from $55,264 to $87,961. Not only are we continually falling behind the States, but over the last year and a half, our income per person has actually been falling.
This dire situation has come about because, rather than doing things that support our standard of living, the Liberal government has done things that harm it. High taxes, regulatory burdens and endless time delays have discouraged the business activity that creates jobs and incomes. All of this took root under Trudeau, and it continues under Carney, who has shown no appetite to change course.
Barriers to interprovincial trade and foreign-trained professionals have not been removed. Necessary infrastructure has not been built. The number of immigrants, whose contributions are the only reason our overall output (not just the amount per capita) has not yet fallen, has been cut back, as have international students, whose contribution to our economy has been greater than that of the lumber or aluminum industries.
Government policies, pursued in the name of environmental protection, have caused much of the harm. This is most evident in the restrictions placed on energy exports and the infrastructure needed to support them, such as pipelines. Had Canada developed its capacity to produce and transport LNG, our economy would have prospered, and we could have helped our European allies reduce their dependence on Russian energy. Yet the world is no greener because of our inaction. Europe still relies heavily on carbon-based energy, just not from Canada.
The environment is important and should not be ignored, but fact-based cost-benefit analysis must guide decisions that are supposed to make us greener. If the environmental benefit is small and the economic cost is great, could we not find a better route?
The biggest issue in this election for most Canadians is maintaining the well-being of their families. Economic factors like jobs, incomes, prices and taxes are top of mind. Yes, we care about the environment, but its priority drops when we are struggling to maintain our basic standard of living.
Will the Liberal government under Carney make a difference in government policies and help us out of the economic morass in which we currently find ourselves? Will Mark Carney take the steps that Justin Trudeau did not, and that are needed if Canadians are to get out of our current decline and start to prosper?
Initial indications say no. Carney’s cabinet looks remarkably similar to Trudeau’s, and there are no signs that their activities and approaches will be any different.
In a democracy like Canada, we hope to be able to believe and trust our leaders. We expect them to do what they say. Carney has told us very clearly where he stands. Since leaving banking, his activities have all been in support of ecological rather than economic causes. At a time when our economy needs all the help it can get, this is not what most Canadians want right now.
If there were any doubt about Carney’s priorities, he has written a book called “Value(s): Building a Better World.” This book makes it very clear that Carney’s heart and mind are on ecological issues at the expense of the economy. Given a choice, Carney will continue and probably expand upon the kind of policies and practices that hinder our current well-being. Our industries, our jobs and our incomes will continue to suffer.
One of the great advantages of democracy is that we can peacefully change our leaders should we not like what they are doing. If we have not been happy with what our government has been doing and how Canada has done over the past decade, we now have an opportunity to make a difference. When we go to the polls, let’s choose leaders who will finally put the prosperity of Canadians first.
Dr. Roslyn Kunin is a respected Canadian economist known for her extensive work in economic forecasting, public policy, and labour market analysis. She has held various prominent roles, including serving as the regional director for the federal government’s Department of Employment and Immigration in British Columbia and Yukon and as an adjunct professor at the University of British Columbia. Dr. Kunin is also recognized for her contributions to economic development, particularly in Western Canada.
