To give you a sense of how big a deal this is, wage growth in the third quarter of 2018 was just under 2 per cent in Alberta, Saskatchewan, and Newfoundland and Labrador. It was about three-quarters of a percentage point higher in Ontario and Quebec, so closer to the 3 per cent one would expect.
The above are all prerequisites for incentivising foreign direct investment (FDI) but also domestic investment, which are the key drivers behind sustainable growth and indeed job creation, which should be the ultimate objective. Thank you very much for your attention. 8/8  BIS central bankers' speeches