News Analysis
The United States has thrown down the gauntlet with its Inflation Reduction Act (IRA), putting Ottawa under pressure to respond and avert further flow of business investment south of the border, particularly that impacting its green initiatives. But the feds are hampered by their ideology, an economist says, noting that more government-directed investment with its poor track record isn’t going to work.
“It’s a very selective decision that we’re going to follow the U.S. lead when it agrees with our ideology—which is green energy, and climate change—and we’re going to ignore the U.S. competitiveness, when it involves things like lower taxes or reduced regulation,” Philip Cross, Munk senior fellow at the Macdonald-Laurier Institute and former chief economic analyst at Statistics Canada, told The Epoch Times….