Economic advisers pushing feds to focus on business investment, job re-skilling
OTTAWA — The federal government’s economic advisers are calling for more changes aimed at driving business investment and helping Canadians acquire new skills as they brace for the march of technology and its job-killing effects.
The overarching goal of the influential Advisory Council on Economic Growth is to help Canadian households add an extra $15,000 to their projected annual pre-tax incomes by 2030. The group has helped the Trudeau government shape policy decisions in the past.
In its third wave 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 that enables workers to accumulate tax-free savings, combined with contributions from employers and government, in order to cover the cost of developing new skills midway through their working lives.