Trudeau must tackle productivity, ex-Bank of Canada chief says

The country’s productivity has 'suffered chronically' since the mid-1990s, according to a report released by law firm Bennett Jones

(Bloomberg) — Prime Minister Justin Trudeau’s government must refocus spending on boosting investment instead of consumption to address Canada’s sluggish productivity growth, argues a new report co-written by former Bank of Canada Governor David Dodge.

Canada’s gross domestic product per capita has fallen at a 0.5% annualized pace since the start of 2020, compared with a 1.6% annualized increase in the U.S. The country’s productivity has “suffered chronically” since the mid-1990s, according to a report released Monday by law firm Bennett Jones.