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Dear John,
Labour productivity plays a crucial role in improving living standards and powering economic growth, but government deficits and debt in Canada are a detriment to productivity, and in turn are making life worse for Canadians.
If Canadian governments reduced their debt relative to the size of the economy (GDP) over five years back to pre-pandemic levels, this would increase productivity and boost incomes for workers by $2,100 a year.
Governments in Canada should curb their dependency on deficit-financed spending so Canadians can enjoy higher labour productivity and higher living standards.
Read the full study here, and be sure to share this one on social media.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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