Some points on the Advisory Council on Economic Growth:
Three broad areas are addressed as necessary
1. Productivity through infrastructure investment.
2. Foreign Investment into the Country .
3. More Immigration .
In the first two it is recommended that two new Federal Agencies be developed . A Federal Infrastrure Agency and a Federal Investment Agency. Undoubtably, hundreds of high paying jobs would be created just to manage these new entities, and many millions of dollars out of the Federal Treasury.
One would think that this is the type of stuff that would come from the bureaucrats. But here are people from business ( some academics on the council , too ) soberly recommending two new bureaucracies . Talk about Government involvement in the economy ? Is this not moving toward the command economy that Europe now has and does not work?
The report concentrates so heavily on infrastructure that one gets the idea that this is the main way to improve our productivity . And although better roads , bridges helps in this regard , it is useless if regulation on top of regulation slows or inhibits the free flow of goods and people. We don’t even have free trade in our own country. So should we not start there and get that done? Then we need a national economic strategy built from the ground up not from the top down . In a Confederation that’s how it has to be done. We are not a unitary state. The notion that you just give token recognition to the Provinces and Territories and municipalities in setting up the Infrastructure Agency won’t work .
Better Productivity also involves streamlining the regularly environment, from safety to environment , to labor standards , to nimble innovation adoption etc . , to research and development by companies as well as a government .
More on this tomorrow.