University of Calgary

University of Calgary

November 18, 2011 13:38 ET

University of Calgary: Protecting Canada from global economic turmoil

Jack Mintz weighs in on danger of worldwide economy, how to ensure prosperity here at home

CALGARY, ALBERTA--(Marketwire - Nov. 18, 2011) - In a speech to Ottawa Parliamentarians, business leaders and academics for the "Big Thinking Lecture," Prof. Jack Mintz, Director of The School of Public Policy, delivered a comprehensive overview of his take on the status of the global economy. Painting a less than rosy picture, Mintz then turned his sights to policy recommendations for Canada.

Mintz argued that while "it would be best at this time to stay the course in Canada," if the country wants to achieve substantial growth it should set its sights on three major economic priorities.

His first suggestion was for government to focus on spending priorities that encourage growth. Mintz said that this would mean investing in the areas of education, research and infrastructure.

Secondly, Mintz argued Canada needs to reform public programs and regulations. This includes reviewing the effectiveness of business and green energy subsidies, and taking a hard look at Canada's health care system.

Tax reform is the final area that Mintz argued can have a major impact on Canada's economic prosperity. Mintz said that "our tax system is becoming riddled with special tax preferences and narrow bases" and that the GST requires a major overhaul. He suggested that "now may in fact be the right time for the federal government to introduce another tax reform," referencing the success of the Technical Committee on Business Taxation from 1997.

Professor Mintz's speech can be found by going to www.policyschool.ucalgary.ca/publications.

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