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Ontario Growth Report November 2012

Ontario Growth Report November 2012

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Published by James Murray
After ten years of moderate growth, the Ontario economy, like economies
in the rest of the world, was affected by the most signifi cant economic
downturn in ninety years. Major economic players faced fi nancial collapse.
Governments struggled to deal with rising defi cits. Comparatively, Ontario’s
economy weathered the storm relatively well. It is too soon to determine the
full impact of the recession, but there is little doubt that the economy is undergoing
a transformation, and long-term growth prospects have been reduced to
1.8 to 2.0 percent annually. Lagging innovation and low productivity remain
critical factors in any progress toward prosperity.
After ten years of moderate growth, the Ontario economy, like economies
in the rest of the world, was affected by the most signifi cant economic
downturn in ninety years. Major economic players faced fi nancial collapse.
Governments struggled to deal with rising defi cits. Comparatively, Ontario’s
economy weathered the storm relatively well. It is too soon to determine the
full impact of the recession, but there is little doubt that the economy is undergoing
a transformation, and long-term growth prospects have been reduced to
1.8 to 2.0 percent annually. Lagging innovation and low productivity remain
critical factors in any progress toward prosperity.

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Published by: James Murray on Dec 06, 2012
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09/19/2013

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Tak Fce n Cmpetitivene, Pductivity and Ecnmic Pe
 A PUsHForgrowTH
 1  1  
Eleventh Annualrept
November2012
The time is now
 
Chairman
Roger L. Martin
Joseph L. Rotman School ofManagement
members
John Armstrong
The Capital Markets Company (Capco) 
Timothy D. Dattels
TPG Capital 
Lisa de Wilde
TVOntario 
David Folk
Jefferson Partners 
Suzanne Fortier
Natural Sciences and EngineeringResearch Council of Canada
Gordon J. Homer
Gordon J. Homer Advisory Services 
P. Thomas Jenkins
OpenText 
David Keddie
National Compressed Air
 L. Jacques Ménard, O.C.
BMO Nesbitt Burns 
Mark Mullins
Veras Inc. 
Timothy H. Penner
 
Daniel Trefler
University of Toronto
Tak Fce n Cmpetitivene,Pductivity and Ecnmic Pe
The Task Force on Competitiveness, Productivity and Economic Progress was announced in the April 2001 Speech rom the Throne. Its mandate is tomeasure and monitor Ontario’s competitiveness, productivity, and economicprogress compared to other provinces and US states. In the 2004 Budget, theGovernment asked the Task Force to incorporate innovation and commercial-ization issues into its mandate. The Task Force reports directly to the public.It is the aspiration o the Task Force to have a signicant infuence in increas-ing Ontario’s competitiveness, productivity, and capacity or innovation. This, we believe, will help ensure continued success in the creation o good jobs,increased prosperity, and a high quality o lie or all Ontarians.The Institute or Competitiveness & Prosperity is an independent not-or-prot organization established in 2001 to serve as the research arm o theTask Force. The Working Papers published by the Institute are primarily intended to inorm the work o the Task Force. In addition, they are designedto deepen public understanding o macro and microeconomic actors behindOntario’s economic progress and stimulate debate on a range o issues relatedto competitiveness and prosperity. Ideas are shited rom concept to action by using a method that demonstrates value along the way.Comments on this Eleventh Annual Report are encouraged and should bedirected to the Institute or Competitiveness & Prosperity. The Task Force andthe Institute are unded by the Government o Ontario through the Ministry o Economic Development and Innovation.Copyright © November 2012The Institute or Competitiveness & Prosperity ISBN: 978-1-927065-03-7
 
 A PUSHFORGROWTH
The time is now
Eleventh AnnualReport
November2012
Task Force on Competitiveness, Productivity and Economic Progress

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