Introducing Canada’s Productivity Summit: Driving investment for economic growth and prosperity

Productivity is at the heart of any robust economy, underpinning long-term improvements in living standards, and it has far-reaching implications for almost all areas of public policy. Countless factors impact economic performance, but relatively little is known about the reasons for Canada’s recent challenges. 

Since 2015, real disposable income growth of Canadian families has been slower than any other eight-year period outside of the Great Depression or the 1990s recession. Explanations range from a lack of business innovation, lacklustre capital investment and interprovincial trade barriers, to inefficient features of our taxation and regulatory system. Canada’s Productivity Summit will examine how we can invigorate growth and increase economic stability for Canadians in the future.

The summit will gather business and community leaders, economists, policy-makers, scholars, and more from across the country. The objectives are to reach a comprehensive understanding of these issues, identify opportunities for improvement across a number of sectors, and craft actionable recommendations for policymakers.

“This is about collaborating on the challenges our economy faces,” says Nate Horner, president of Treasury Board and Finance. 

“Higher productivity means better jobs, bigger paycheques, more opportunities, and increased affordability, but Canada’s productivity growth has lagged our closest competitors. This summit will gather some of the best minds out there to better define this problem and propose solutions.”

Enhanced productivity is poised to make goods and services more affordable, elevate wages, expand employment opportunities, and improve living standards while ensuring the reliability of public services. As Canada navigates its economic challenges, prioritizing productivity growth remains crucial to sustaining a high quality of life and fostering a resilient and dynamic economy.

“How to improve Canadian productivity has been a challenge for decades, but we are clearly falling even further behind. This is a critical issue for our country, and our economic and social prosperity,” says Martha Hall Findlay, director, School of Public Policy.

“Action is needed. The School of Public Policy is taking the lead in hosting this summit, with the Government of Alberta, to develop and encourage plans for action for improvement in the whole country. To be clear, this is an all-of-Canada challenge. 

“We are bringing together experts and leaders to discuss — and then recommend — real, tangible and practical options for decision-makers — government, business and others, including ideas on how different sectors and regions can collaborate.”

The summit will delve into critical topics that:

• create an environment for policy innovations that raise economic growth across Canada
• offset inflationary pressures, accelerate wage growth and address the ongoing affordability crisis
• generate additional revenues to support spending on infrastructure, education, healthcare and social services
• respond to upcoming structural challenges such as shifting demographics, climate change, innovation and technological change
• identify what influence government policies and private decisions could have on our nation’s growth
• resolve fiscal imbalances and reverse the trend towards higher deficits

“As Canada’s entrepreneurial university, we understand that skilled talent and innovative research are critical drivers of strong productivity and economic growth. We are excited to host and contribute to dialogue among practitioners, researchers and policy-makers that advances solutions to Canada’s productivity challenges,” says Dr. Sandra Davidson, provost, University of Calgary.

The summit is open to the public. We invite you to attend on Oct. 16 to 17 in Calgary to learn more about driving investment, innovation and productivity in Canada. Your participation will contribute to shaping the future of our nation’s economic landscape.

Learn more about Canada’s Productivity Summit and register to attend