Dear John,

As we approach the end of 2021, it’s hard to feel optimistic about where we are as a country.

Inflation has hit 4.4% in Canada and shows no sign of slowing down. From groceries to gas, quite literally everything has shot up in price.

Despite reassurances from politicians that this recent inflation will be temporary, there are serious risks that it will become permanent.

Two recent Fraser Institute studies found that real economic growth in Canada over the past decade was the slowest since the 1930s and that Canada’s growth rate of business investment — a key driver of higher living standards — neared a 50-year low.

And more of our recent studies back up the unfortunate fact that productivity growth in Canada has almost completely stalled, innovation has lagged, and many of our major companies are no longer global leaders.

Perhaps most glaring are the findings of our most recent Economic Freedom of the World study: Canada has, for the first time, fallen out of the top 10 most economically free countries in the world!

This is due in large part to the massive shift in federal policy since 2015 — namely higher taxes, higher debt-financed spending, and more regulation of the economy. These policies discourage investment, entrepreneurship, and economic growth.

Making the situation even more dire is that recent Throne speech, which outlines the government’s updated key priorities, exposes Trudeau government’s economic ignorance — there was not a single mention of “entrepreneurs” or “entrepreneurship” and their role in economic growth or recovery.

The speech also completely ignored the dismal state of federal government finances. The terms “deficit” and “debt” weren’t mentioned once despite a recent analysis by the Parliamentary Budget Officer, which estimated that Ottawa would not balance its budget until 2070.

John, despite all this disheartening news, our team here at the Fraser Institute remains optimistic about Canada’s future.

Our research is being seen by more Canadians than ever before – in newspapers and on radio and TV interviews across the country, and via millions of hits to our website.

That exposure has moved the needle on public debate, and helped give context to so many of the issues mentioned above.

Perhaps most importantly, 2021 has been our best year ever on social media. Millions of Canadians have engaged with our content, and we have more than doubled the size of our email list – thank you for being part of it!

As you might have guessed, we do not accept government funding for our work. We rely entirely on the people who support the production of our expert, non-partisan, peer-reviewed research.

If you are able to, please consider making a donation today [[link removed]] to support our efforts.

With your help, 2022 will be an even better year for the Fraser Institute as we continue to inform Canadians about the effects of our governments’ policies.

Thanks for your support, and stay safe.

Stay safe,

Niels Veldhuis

President

PS: Did you know that the Fraser Institute is a registered charity? That means your donation entitles you to a generous tax credit. Donate before December 31 to get yours! [[link removed]]

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