To make this point concrete, Bank staff estimate that Canada’s potential economic growth would increase by about 0.2 percentage points per year, or about $ billion, if interprovincial trade barriers were lowered. This would include harmonizing regulations on all manner of things. In a time of slow economic growth, that is too good an opportunity to pass up.
Conclusion It is time for me to conclude. Clearly, there are challenges in the Canadian and global economies that we need to manage. But there are clear signs that Canada is adjusting to the challenges. After taking into account the economy’s structural adjustment to lower oil prices that is still going on, we can see many areas of encouraging economic growth.