Fall economic update 2016 – stay the course

It was no big surprise today that the Trudeau government’s second Fall Economic Update doubled down on their bet that every day Canadians care less about the debt-to-GDP ratio and more about the stability of their own job and the money in their pockets. Realizing this, Morneau listened to the economists and chose to generate economic growth through investing in infrastructure and opening the market up to more foreign investment.

Morneau isn’t wrong. Investing in infrastructure will create real jobs in communities across the country – jobs that pop up quickly and can spur much needed economic activity, particularly in rural and remote communities. Infrastructure investments have been proven, time and again, by governments of all strips to be an effective economic stimulus and necessary driver for growth. Let’s not forget that the centerpiece of the Harper government’s Economic Action Plan to crawl out of the 2008 recession was a $12 billion fund to build roads, bridges and transit. There is little risk in losing when you bet on infrastructure.

Today’s update also includes a realization that the experts are right – Canada needs to open up the market and attract more foreign investment and skills. Enter the new Invest in Canada Hub and the Global Skills Strategy, two key pieces that help get more international money and people into our economy quicker. Having a dedicated sales team to work with global companies and attract new investment will result in more money for our domestic companies, and setting a two-week standard for processing visas and work permits for low-risk, high-skill talent will make Canada a global leader in attracting talent and will mean our domestic business can respond rapidly to changing market conditions.

While both Opposition parties struggle to secure solid leadership, the Trudeau government has been listening to the ideas and concerns of Canadians, and today put forward a plan that reflects this input. They have demonstrated that government works better with many voices. And they have the poll numbers to prove it.

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