People are full of advice for those who have to make actual decisions.
It leads me to wonder what I鈥檇 do if Prime Minister Mark Carney called me up and said: 鈥淭ake over. Do what you want.鈥
Here鈥檚 what I鈥檇 do.听
These are not easy moves, but they are necessary.
Move at crisis speed 鈥 even if it鈥檚 not a crisis
Remember 2020 when Covid19 hit? Suddenly governments across Canada that usually dithered about all kinds of issues acted at lightning speed.
Within days 鈥 sometimes hours 鈥 they sprang into action with emergency response plans, wage support, border policies and supply chain pipelines.
It all happened at a pace no one thought possible.
We may or may not be in an economic crisis right now.听CertainlyIt seems like we are, with the never-ending threat of听Trump tariffs听and听global听trade tensions.
Why wait to decide if it鈥檚 a crisis? Our government should aim to function at warp speed.
The challenge with Prime Minister Mark Carney’s goal of building 2.5 million homes within a
If I were running things, I’d make everything urgent. I鈥檇 create a ‘rapid decision mandate’ for听national priorities: economic growth, digital infrastructure, housing supply and climate sustainability.
It鈥檚 always easy to say we need more consultation, but right now it鈥檚 better to act fast and consult as we go.
That鈥檚 what our competitors do, and so should we. Speed isn鈥檛 reckless. Delay is.
Eliminate interprovincial barriers听鈥 now!
Canada is a country. We should act like one.
It鈥檚 commendable that the prime minister and our premiers are paying attention and working to knock down interprovincial barriers.
But even the speed they鈥檙e working at, which is unprecedented, is too slow.听 If a Canadian-made product is cheaper to buy in another country than in another province, something is broken.
I鈥檇 fix this now.
If U.S. President Donald Trump could impose tariffs overnight which are bad, why can鈥檛 we do the opposite overnight and lower trade barriers within Canada, which is good.
Let鈥檚 do it now and work out the details later.
Drop the prime rate to get mortgage rates under three per cent
Interest rates are supposed to be just a monetary policy lever. But they鈥檙e a national anxiety.
Too many Canadians are not investing, building, or spending. It鈥檚 not because they don鈥檛 want to, but because they’re terrified of what will happen when their mortgage comes up for renewal.
It鈥檚 a huge squeeze, particularly on middle-income Canadians.
The Bank of Canada decides monetary policy independently. But Carney used to run the central bank听and by most accounts did quite well.
Right now, the bank keeps hinting that it鈥檚 open to dropping rates to stimulate our economy. But when?
If I were running Canada, I鈥檇 send strong, public signals. The bank should take the hint.
A healthy economy needs optimism.
Promote, don鈥檛 punish wealth creation
We say we want innovation, growth and success. But we still tax ambition like it’s a liability.
You know this if you are a company founder, a professional or a global earner.
When you manage to break through in Canada the message you hear is “we need claw it back.”
This often drives people to leave, look for tax havens or sell their successful businesses to foreigners.
Everyone must pay their fair share, but we shouldn鈥檛 be using peoples鈥 success as a crutch.
Too often, there鈥檚 a disconnect when governments say they need to “tax the rich” but hit people who are just breaking through to success.
And governments aren鈥檛 good at explaining what they鈥檙e going to do with the extra tax revenue.
You can鈥檛 build prosperity by vilifying those who create it.
If you want more people to climb the ladder, keep it strong and steady 鈥 stop shaking it.
Prioritize the contributors, not just the cases
I鈥檝e built a successful business here and I鈥檝e scaled it globally, despite the barriers Canadian entrepreneurs face.
But I鈥檝e also seen how hard it is to build momentum in Canada even when you鈥檙e doing everything right.
With little fanfare, the Royal Canadian Navy and the Canadian Coast Guard are being outfitted
We need to support entrepreneurs who contribute to the economy.
It鈥檚 a mind shift and听we need to do everything to encourage innovation, whether it鈥檚 from a self-funded tech startup exporting Canadian intellectual property听or internationally trained doctors who could be practicing here tomorrow if rules were streamlined.
If we don鈥檛 fuel the engines of growth, there won鈥檛 be anything left to redistribute.
It all comes down to this: We should act like we don鈥檛 have a lot of time.
That鈥檚 what I鈥檇 do if I were prime minister.
Mark Carney should do the same.
To join the conversation set a first and last name in your user profile.
Sign in or register for free to join the Conversation