That is why the Bank of Canada sees risks to the economy in a structure that would allow the benefits of money issuance to accrue to the private sector while any losses would be borne by the government and taxpayers. Let’s remember, these issuers are getting the equivalent of seigniorage but have limited or no oversight at this time.
The health care sector, for example, will require more medical technicians, therapists, nurse practitioners, and home care workers to meet growing demand. And as our population ages, the demand for leisure and travel services is increasing. The hospitality and tourism sectors can differentiate Canada from other destinations by delivering the exemplary service that only well-trained workers can provide.