A study from the Fraser Institute has found that Canada’s per-person GDP is growing at its lowest rate since the Great Depression of the 1930s.
“Canada’s in a full-blown economic growth crisis, which is homegrown and due largely to poor government policy,” said Philip Cross, senior fellow at the Fraser Institute and author of “What is Behind Canada’s Growth Crisis?”
Mr. Cross, who used to be chief economic analyst for Statistics Canada, said from 2013 to 2022, per-person GDP in Canada grew by just 0.8 percent after adjusting for inflation.
Mr. Cross’s study said the problem cannot be blamed on COVID, because the slow growth was around long before the pandemic. And it points out that, from 2016 to 2022, per-person GDP in the United States grew by 11.7 percent, compared to 2.8 percent in Canada….