Mr. Chair, as I said in my opening remarks, Canada's economic performance since 2015 has not been as good as its performance in the previous 10 years. The difference in income per capita amounts to around $4,000 per person had we continued on the same growth trajectory. Certainly we had COVID during the recent period but, as I said earlier, we also had the great financial crisis in the early period, and COVID increased Canadian productivity because we had a bunch of people in relatively low-productivity sectors who exited the labour market.
During that period over the last 10 years, we've seen a very significant increase in government spending, in particular, in subsidies to business and to others. We've seen increasing regulation, particularly in the resource sector and, of course, we've had a very significant increase in immigration, particularly in permanent residents, and we haven't seen any payback from those policies.
Now you could argue that maybe things would have been worse had we not pursued those policies, but the reality is that, if we compare both to our neighbours and to our recent performance, we just haven't performed as well.