An Inclusive Industrial Policy for Canada

A framework and toolkit for inclusive industrial policy to support economic growth, innovation and successful firms in a way that delivers widely-shared economic, social and environmental value.
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Matthew Mendelsohn
Co-founder of First Policy Response at Ryerson University and a Senior Advisor to BCG’s Global Public Sector Practice
Noah Zon
Co-founder and Principal of Springboard Policy
January 18, 2021
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About This Report

This report lays out a framework for an inclusive industrial policy, as well as some promising options to pursue. At the core of the paper is a toolkit of promising practices that have been used successfully in Canada and internationally. These tools fit into three overarching themes: more strategic use of procurement; democratizing access to capital; and using government investment decisions to shape behaviour in ways that advance the goals of inclusion, community wealth and sustainability, which should include more equity investing by governments in firms.

Why now?

The economic futures expected at the start of 2020 have evaporated, and many Canadians have lost their jobs, their businesses, and the paths they saw for themselves. The pandemic has revealed and exacerbated well-known problems, accelerated changes that were already underway and reminded us that effective government is absolutely essential to help Canadians and businesses through this period of unprecedented disruption. This generational economic crisis demands a generational economic response to ensure a strong economic recovery and lasting prosperity.

Increased economic nationalism, deteriorating multilateral economic institutions, and a rising intangibles economy require more proactive economic strategies. It is not a question of whether Canada embraces industrial policy but whether we do it well. With massive public investments occurring in economic recovery, it will be a generational failure if we fail to account for what kind of growth we want to see and what kinds of communities we want to build.

Read this report to help you:
  • Understand the growing political consensus around the case for active industrial policy in Canada.
  • Learn about Canada’s history of industrial policy and its successes and shortcomings.
  • Identify proven policy tools that promote economic growth that is both inclusive and environmentally sustainable.

 

 

The Canadian Inclusive Economy Initiative is a new project to identify, develop and advance policy and program ideas that deliver shared, inclusive and sustainable prosperity for Canadians.

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Matthew Mendelsohn
Co-founder of First Policy Response at Ryerson University and a Senior Advisor to BCG’s Global Public Sector Practice
Noah Zon
Co-founder and Principal of Springboard Policy
January 18, 2021
Read Report PDFPrint Page

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Mar 30, 2021

Using Statistic Canada's Canadian Survey on Business Conditions (CSBC), we analyzed business trends throughout the pandemic, such as remote work, online sales, and employment and skills demands
How are Canadian businesses adapting to the Pandemic?
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