Canada has slipped out of the top 10 countries listed in the annual United Nation’s human development index — a far cry from the 1990s when it held the first place for most of the decade…When the numbers are adjusted for gender inequality, Canada slumps to 18th place.
Outgoing Bank of Canada governor Mark Carney famously chided corporate Canada this summer for sitting on mountains of “dead money,” the idle dollars on balance sheets that could instead feed economic growth…The running tally of “dead money” in Canada? About $600 billion, or a bracing 32% of Canada’s GDP, according to an estimate quoted in January by RBC Global Asset Management chief economist Eric Lascelles. To put that big number into context, he noted that U.S. cash reserves account for just 9% of the domestic economy. Yet even the U.S. figures are staggeringly large.
Canada’s Economic Action Plan in, er, action.
Time for more corporate tax cuts.