Thank you, Madam Chair.
Thank you to the witnesses for being with us this afternoon.
I'm going to start with Mr. MacDonald.
Yesterday, the Council of Canadian Academies published a report entitled “The State of Science, Technology, and Innovation in Canada 2025”. The report says that “Canada's longstanding poor productivity performance has reached crisis levels, compromising the standard of living for people in Canada.”
If you look at the government's own budget document, on page 37, it says, “Investment pulled-back in the first half of the year as businesses delayed or cancelled projects. Private sector forecasters expect investment weakness throughout 2025”.
Also, on page 53 of the budget, it says, “If Canada's productivity growth had matched the U.S. from 2017 to 2023, the median income of a family with one child would be nearly $11,000 higher”.
Has the government acted with enough urgency to address and begin resolving the productivity crisis in Canada?