An Inclusive Industrial Policy for Canada

Executive Summary

Along with the devastating public health crisis of COVID-19, the pandemic has exposed and deepened worrying trends in the Canadian economy. The economic futures we had imagined at the start of 2020 have evaporated, and many Canadians have lost their jobs, their businesses, and the paths they saw for themselves.

Canada has arrived at the end of the policy paradigm shaped by the recommendations of the Macdonald Commission and the long tail of the Washington Consensus, including free trade agreements, deficit fighting, and the rules-based multilateral trading system. What comes now?

It is hard to exaggerate the significance of this moment. The pandemic has revealed and exacerbated well-known problems, accelerated changes that were already underway, and reminded us that effective government is absolutely essential to help Canadians and businesses through this period of unprecedented disruption. This generational economic crisis demands a generational economic response to ensure a strong economic recovery and lasting prosperity.