Capital projects take a long time and some countries we're diversifying our trade to are growing as slowly as we are. Patience is required

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While enjoying eggnog and holiday food, many Canadians may have overlooked two December news items that suggest this year will be challenging for the Liberal government’s economic strategy. That strategy was summed up in the Liberal election plan: “build a stronger Canada” and “diversify our trade.” These are brave words, almost wartime words. But if we do lose access to the world’s largest, most dynamic market, making Canada stronger will be harder.

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The first bit of news was the report that Canada’s GDP fell by 0.3 per cent in October. We shouldn’t pay too much attention to any single month’s number. But growth has been virtually at a standstill this past year, just 0.4 per cent since October 2024. With population growing 1.4 per cent, per capita GDP fell by a full percentage point. As Canada’s lost decade continues, it’s no surprise the latest