Balanced approach needed for economic growth | KPMG | CA

Balanced approach needed for economic growth

Balanced approach needed for economic growth

C-Suite 42: Canadian business leaders favour infrastructure spending to spur growth and productivity.

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Partner, Global Chair - Consumer Markets, Partner-in-Charge - High Growth Markets

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Balanced approach needed for economic growth

Infrastructure spending remains top of mind for Canadian executives according to this quarter’s C-suite survey [PDF 508 KB]. Many favour investing in infrastructure to promote long-term growth and productivity. However, infrastructure is just part of the solution to a weak economy. Executives believe a balanced approach is needed to boost economic growth - many want to see a combination of infrastructure investments along with other initiatives: innovation/R&D support, facilitating pipelines and getting resources to market, tax cuts and support for skills and training.

Visit our Infrastructure page for more resources, insights and how we can help you on complex projects.

Top highlights

Federal Government's Budget & Policy Setting

  • Fifty-six per cent of execs support the government's plan to run deficits over the next 3 years and fund infrastructure spending.
  • To boost economic growth, the execs ranked investments in infrastructure & public transit, innovation/R&D, access to market, tax cuts, support for training, SME & start-ups, and more.

Climate Change, Carbon & Energy Sources

  • Most (74%) execs support investing in clean tech and transportation initiatives that reduce carbon emissions. 
  • While the vast majority (76%) think proposals for Canada to end the use of fossil fuels by 2050 are unrealistic, 43% agree the goal is worthwhile.
  • Many (30%) ranked cost of alternatives as the top obstacle to eliminating fossil fuel use, followed by lack of technology, need for viable alternatives, consumer reliance on cars, and others.

Canadian Dollar, Market Volatility's Impact on Business

  • Many of the C-Suite have changed their strategic plans due to market conditions in the past year: 37% have cut staffing, 33% have reduced capital spending, 28% have cut operational or other expenditures.
  • While 54% of execs believe the low dollar is cyclical and will not have a lasting impact on head office jobs in Canada, 41% said their companies would be negatively impacted if the dollar rose to 80 cents

In the media

  • Gandalf Group's David Herle and Alex Swann in The Globe and Mail:

Pain in oil sector can be felt all over Canada's economy, executives say

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