I think, from our membership, we hear two key areas of concern that lead to lower productivity in the Canadian economy.
One is the difficulty of investing in a way that will yield a reasonable return. As we noted during our criticism of the stock buyback tax, companies don't buy back their stocks just because they want to. They do because they don't see anywhere else they can reasonably deploy their capital.
I think you could very well describe the same thing in terms of lagging productivity. Productivity is not an issue of Canadians not working hard. It's, in large part, a product of not having the tools necessary to do the job and to do it as well as it could possibly be done—for example, an employer not investing in the technology and software that would enable them to automate certain workflows or to streamline certain processes.
The other is a function of our just not having enough labour. There's a labour shortage. This is why we're coming out very strongly in terms of reducing seniors' disincentives to work and streamlining the express entry program to ensure that all Canadian businesses have the people they need to invest, thrive and grow.
I believe the best testament was offered here, by the Hotel Association of Canada. The amount of lost revenue at a time when they should be ramping up operations is absolutely stunning.