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Highlighted recently by the Business Council of B.C., the report by the Organization for Economic Co-operation and Development paints a dismal picture of Canada’s real GDP growth per capita up to 2060, largely because of weak labour productivity.
Productivity is driven by businesses investing in new technologies, making work more efficient, thus increasing economic output, a key driver of living standards for Canadians.
David Williams, vice-president of policy at the B.C. Business Council, wrote recently that the OECD report predicts Canada’s real GDP growth per capita from 2020-30 will be just 0.7% annually, dead last among the 38 comparable nations of the OECD.
It doesn’t get much better after that, with the OECD pegging Canada’s growth per capita from 2030-60 at 0.8% annually, again last among OECD members.
