Following the announcement of Canadian Prime Minister Justin Trudeau's resignation as Liberal Party leader and prime minister, the Information Technology and Innovation Foundation (ITIF) has issued a statement. The organization emphasized the need for Canada to focus on technology, innovation, and productivity as the country approaches a Liberal Party leadership race and a federal election.
Robert D. Atkinson, president of ITIF, along with Lawrence Zhang, head of policy at ITIF’s Centre for Canadian Innovation and Competitiveness, noted that Canada's current economic position differs significantly from when Trudeau first took office nine years ago. They warned that Canada risks becoming a stagnant, middle-income nation reliant on natural resource extraction, which could hinder wage growth and access to quality jobs in advanced industries.
"Canada must chart a radically new course that recognizes its severe structural weakness in international competitiveness and productivity," they stated. "While it may be late in the game, it is not too late to redirect Canada’s techno-economic performance."
The Centre for Canadian Innovation and Competitiveness has put forth several recommendations for the next federal government. These include establishing a productivity commissioner, improving tax incentives for innovation, introducing a time-limited tax credit for capital investment, and transforming Canadian colleges and universities into engines of R&D commercialization.
Further suggestions involve creating "Manufacturing Canada" institutes, developing an innovation-friendly regulatory system, pursuing regulatory interoperability with trade partners, setting AI adoption milestones for the federal government, building an independent Canada Innovation Agency, and piloting a federal IT procurement innovation testbed.
"If implemented as described in our growth agenda," they concluded, "these policies will help turbocharge the economy and make Canada more innovative, productive, and globally competitive for generations to come."
For further inquiries about this statement or ITIF's recommendations: Sydney Mack can be contacted via email at [email protected]
