Ottawa’s economic advisers want for more changes to drive business investment – to help Canadians acquire new skills as they brace for the job-killing effects of technology.
The influential Advisory Council on Economic Growth wants to help Canadian households add an extra $15,000 – to their projected annual pre-tax incomes by 2030.
In another list of recommendations to be released later this week – the council says Canada urgently needs another $15 billion in annual investments for adult skills development – to help workers adjust to the demands of the rapidly changing labour market.
The group recommends the creation of an RRSP-type lifelong learning fund – to enable workers to build up tax-free savings, along with with contributions from employers and government – in order to cover the cost of developing new skills midway through their working lives.
The council is also calling on Ottawa to support businesses by pursuing a more flexible regulatory environment – making the tax system more supportive of innovative sectors – and suggests helping smaller Canadian firms increase their exports.