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Trudeau’s Ex-Finance Minister Says Canada Is Misfiring on Growth

  • Morneau decries prioritization of politics over productivity
  • Speech also acknowledges success on poverty reduction, climate
Bill Morneau announces his resignation as finance minister in August 2020.
Bill Morneau announces his resignation as finance minister in August 2020.Photographer: David Kawai/Bloomberg

Prime Minister Justin Trudeau’s former finance minister said the governing Liberals aren’t exhibiting any “real sense of urgency” on growth, and warned Canada could pay a big economic price if things don’t change.

Bill Morneau, in his first major speech since leaving office in 2020, argued political incentives in Ottawa on all sides run counter to finding long-term solutions to the nation’s lagging competitiveness. He also acknowledged he was unable to galvanize his own government to address what he called Canada’s fundamental economic problem.