Canada’s economy is arguably at an inflection point, facing a range of powerful and converging global market shifts. Each challenge on its own is daunting. When considered in combination, the risks to Canada’s future prosperity and Canadians’ standard of living loom large. Issues such as lagging productivity, an aging population, climate change, geopolitical conflict and technological change require a reassessment of the policy framework Canadian policymakers have used to support economic growth.
However, limited Canadian research on industrial policy exists. Decisions regarding which sectors or projects to support, how to allocate funds, how to govern industrial policy programs and how to measure success are being made without a robust body of evidence to guide them.
Through 2024, the IRPP will host a series of expert workshops and consultations with business and labour groups aimed at providing evidence-based recommendations to governments on industrial policy. To guide the project, the IRPP has assembled a steering group of economic thought leaders.
The project will culminate in a major report and conference in 2025.
