FFRROOMM BBRROONNZZEE TTOO GGOOLLDD
A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Ideas and recommendations of the Canadian Council of Chief Executives
February 21, 2006
Cette publication est également disponible en français.
FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
TABLE OF CONTENTS
OUR VISION FOR CANADA...... 1
MAKING THE MOST OF A WORLD OF CHANGE ...... 3
THE CRITICAL ROLE OF GOOD GOVERNANCE...... 4
THE NEED FOR A CREATIVE ECONOMY ...... 7
THE FOUNDATIONS OF A CREATIVE ECONOMY ...... 11
TEN SOLID STEPS TOWARD A CREATIVE ECONOMY...... 13
FIVE CREATIVE LEAPS TO CONSIDER...... 18
FROM IDEAS TO ACTION ...... 22
APPENDIX: I THE CANADIAN COUNCIL OF CHIEF EXECUTIVES
II MEMBERSHIP - CANADIAN COUNCIL OF CHIEF EXECUTIVES
Canadian Council of Chief Executives FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
February 21, 2006
In June 2005, the Canadian Council of Chief Executives launched a new initiative aimed at improving Canada’s competitiveness within a transforming global economy. We spoke out because, despite all the good economic news that Canadians have enjoyed in recent years, we believe that Canadians had become dangerously complacent about a wide range of emerging challenges to our country’s ability to sustain the wellbeing of its citizens. We also were discouraged by the extent to which Canada’s political process had become dominated by short-term partisan tactics at the expense of strategic decision-making.
In the months since, we have engaged in research and consultation across a wide range of issues that matter to the long-term future of Canada. On January 23, 2006, after an unusually long and intense election campaign, Canadians chose a new Parliament and a new Government. We in turn would like to take this opportunity to offer the results of our work to date to Canada’s new Prime Minister, to the members of his Government and to Members of Parliament from all political parties. We are pleased to share our views as well with Canada’s Premiers and legislators and with decision-makers across the country.
This paper, From Bronze to Gold: A Blueprint for Canadian Leadership in a Transforming World, reflects our perceptions from the front lines of global commerce about the nature of the challenges facing Canada and about how our country could make the most of its formidable strengths in meeting these challenges. We put forward ten specific suggestions for actions that we believe could be taken quickly and could win support across party lines. We also advance five bolder ideas that we hope will provoke a broader national discussion about how to position Canada for even greater success in the decade ahead.
We believe that it is time for leaders in all sectors of our society to work together and to think big about what our country can achieve and how to get there from here. We offer these thoughts as our initial contribution to what we hope will become a broad national discussion, and we promise to continue our efforts toward the goal we set in 2000, that of making Canada “the best place in the world in which to live, to work, to invest and to grow”.
______Richard L. George Thomas P. d’Aquino Chairman Chief Executive and President
Canadian Council of Chief Executives ii FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
OUR VISION FOR CANADA
e believe in Canada. We believe in our Canada has many strengths. The hard choices W country as a bastion of hope and made by Canadians during the 1990s have freedom in an unpredictable and often produced real dividends. Canada today seems to dangerous world. We believe in the creative be in great shape. It is the only major potential of every Canadian and in the right of industrialized country enjoying consistent each person to an equal opportunity to make the surpluses both in its federal budgets and in its most of his or her talents. We believe that our trade and current accounts. Its economic growth open and diverse society offers us a critical has been the best in the G-7 over the past five advantage in shaping a future of prosperity for years, driving the unemployment rate to its our nation within a world of change. lowest levels since the 1970s and producing impressive gains in family incomes, profits and As business leaders, we are no more entitled tax revenues. than any other Canadian to criticize our nation’s path, but neither can we shirk our responsibility Canada cannot afford to be complacent. to stand up and be counted when we see our Despite this impressive progress, Canada faces country missing vital opportunities. The contest very real threats to its future. There are threats to of ideas is the central strength of a vibrant our safety and security, threats to our democracy. environment and to our health, threats to our social stability, threats to our economic In June 2005, disturbed by what we saw as an wellbeing, threats to the unity of our country. If excessive focus on short-term politics at the we fail to recognize these threats and to take expense of long-term national strategy, the action to address them, our lives and those of Canadian Council of Chief Executives (CCCE) our children will be poorer. launched a new initiative aimed at boosting productivity and positioning Canada to compete In the face of these challenges, Canada’s more effectively in the global economy. performance is slipping in relation to that of key competitors. As the Conference Board of In a statement titled Canada First! Taking the Canada pointed out in its 2005-06 Performance Lead in a Transforming Global Economy, we and Potential report, other countries are suggested that what matters most to Canadians is outperforming Canada even in areas that have not where political parties stand in the polls been traditional sources of strength: “Although from one day to the next, but what kind of a our overall performance is decent, our star does country our children will inherit over the next not shine to the degree that it once did.” generation. We said that Canadians must work together to deal with the threats and Even the world’s strongest economies are not opportunities our country faces and to forge a resting on their laurels. In his 2006 State of the new strategy for our country. Union address, President George W. Bush
Canadian Council of Chief Executives 1 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
warned that the United States cannot afford to be strength to others, to supporting the rule of law, complacent and launched a US$136 billion human security and the free flow of people, American Competitiveness Initiative focused on goods and ideas around the world. But above improving his country’s performance in all, our future success as a country depends on research, innovation and education. Similarly, our determination to build a true society of European Commission President José M. opportunity. To shape our collective destiny, we Barroso has warned that the European Union must tap the entrepreneurial and creative energy must breathe new life into its growth and jobs in every sector of our society. strategy, concluding that “we have no time to lose!” To express a vision is not to achieve it. To achieve such a vision will require action by Canada must build on its success. We speak of leaders in our governments, in our businesses success not only in terms of business profits and and in our communities. We each must act in economic growth. Economic performance is not our own spheres, but above all, we must work an end in itself, but it is our economic progress together constructively. that gives us the means, as individuals and as a country, to do more for ourselves and our In this statement of our commitment as business families, more for our less-fortunate fellow leaders, we focus on what we know best: how to Canadians, more for those in need beyond our strengthen the economic base that expands our borders. opportunities as individuals and as a country. We propose a series of specific steps forward In shaping a path forward, we see Canada as a that we believe are necessary to secure Canada’s place more open than anywhere else to new success and that are capable of attracting broad, people and new ideas, a hub of creativity in multi-party support in the new Parliament. And advancing human progress. We see a Canada we go further, putting on the table several bolder where people live longer and healthier lives, ideas to address fundamental issues that Canada regardless of income. We see a Canada in faces today. which cleaner air and water go hand in hand with growing prosperity. We see a Canada In offering these ideas, our goal is not to push a where earning a living does not preclude a specific policy agenda. We are asking all satisfying life with family and friends. We see a Canadians to acknowledge the scope of the Canada in which citizens connect easily with challenges we face as a country and to enter the one another and with the world. We see a debate about our future with all of their energy Canada that remains proud of its past and and creativity. confident in its place, yet determined to do better. The time has come to set aside complacency. It is time to think big about what Canadians can To achieve such a vision, Canada needs efficient achieve and how to get there from here. It is and trustworthy governments, the basic time for all sectors of our society to work infrastructure of democracy. We need to together to produce the greatest possible maintain our commitment to giving of our increase in the wellbeing of Canadians over the
Canadian Council of Chief Executives 2 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
next decade, as individuals, as families and as a more inspiring than the ones that already have nation. It is time to take action to ensure that the been written. next chapters in Canada’s great story are even
MAKING THE MOST OF A WORLD OF CHANGE
o make sensible decisions about national We live in an urbanizing world. In developing T strategy, it is vital to understand what is and industrialized countries alike, cities have happening in the world around us. become the engines of economic growth. Rural communities still play vital roles, but it is the We live in an increasingly open world. large cities that have become overpowering Openness is one of Canada’s greatest strengths, magnets for people and their skills. This and we have been a prime beneficiary of the relentless migration brings with it myriad new growing flows of goods, services, money, ideas challenges. Canada must aim to create clean, and people across borders. Being open to efficient and well-governed urban environments opportunities also means being open to that will attract the best and brightest from competition. Canada has done well in around the world. competition with other industrialized nations, but the rise of large developing economies such We live in an aging world. Across the as China and India is transforming the industrialized world, people are living longer competitive landscape for companies in every and healthier lives and having fewer children. sector. This is leading to a steady aging of the population in advanced economies, with With increasing openness, however, comes relatively more people living in retirement and recognition that issues such as health and the dependent on social services that will have to be environment do not respect national borders. funded by a shrinking cohort of taxpayers with Acid rain, greenhouse gases, water pollution and jobs. As a result, industrialized countries are hazardous waste disposal, along with avian flu becoming more aggressive in looking abroad for and the potential for global pandemics: these younger and skilled immigrants. Demographic threats all demand action at both the national trends also underscore the need to invest in new and global levels. and more productive technologies, to enable each young person to achieve his or her full We live in a dangerous world. International potential and to make full use of the talents of terrorism has replaced superpower confrontation every Canadian at every age. as the greatest threat to world peace and human security. Canada must be resolute both in We live in an innovative world. The intense defending our interests and in contributing to competition that flows from an open world international efforts to increase security without generates a relentless flow of new ideas. choking off the global flows that hold the key to Prosperity flows not just to those who generate greater prosperity around the world. new knowledge, but in even greater measure to
Canadian Council of Chief Executives 3 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
those who find ways to make effective use of governments, businesses and workers in every such knowledge. Investment in research is corner of our society. It affects different people important for countries and companies alike, but in different ways, but no enterprise and no investment in the adoption of new technologies community is immune. To preserve our and in the development and marketing of new leadership, our jobs and our quality of life, we products for world markets is critical. must learn how to adapt and succeed in this new environment. This open, dangerous, urbanizing, aging and innovative world poses challenges to
THE CRITICAL ROLE OF GOOD GOVERNANCE
or countries as for businesses, good governance reforms adopted by individual F governance is essential. Without good companies. Both have been critical in restoring governance, companies find it harder to investor trust. Canadian citizens are facing a attract and keep customers, employees and similar crisis of faith in their governments. investors. Without good governance, countries face similar challenges in attracting both During the recent federal election campaign, the investment and talented people. sponsorship scandal prompted every party to put forward significant proposals for improving The degree of public trust in what governments public governance. More recently, the final do and how they do it has an immense impact on report of the inquiry headed by Mr. Justice John the ability of any economy to produce more jobs Gomery presented further recommendations for and generate higher incomes. While economic reform. While specific recommendations vary, growth is driven primarily by private-sector and we would strongly maintain that the Prime energy, initiative and investment, government Minister must always retain the right to shape policies have a pervasive influence. Public the senior Public Service at the deputy level, policy in turn is shaped not just by political there is a clear consensus both on the need for priorities, but also by the way the country action and on the broad priorities. We support organizes itself, by its governance structures and action in the following areas in particular. practices. In forging a strategy for strengthening Canada’s competitiveness, addressing issues of • Responsibilty of ministers and deputy governance is a necessary condition for ministers. Politicians and public servants sustainable growth. each play distinct roles in making government work, but the sponsorship In recent years, private-sector investors have scandal exposed both a muddling of these come face-to-face with the consequences of poor roles and a troubling lack of clear personal corporate governance. The result of major accountability for key decisions. In the corporate scandals has been both stricter rules private sector, chief executives now imposed by governments and far-reaching certify personally that their corporate
Canadian Council of Chief Executives 4 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
reports are fair and complete, that encouraged to challenge established everything they say is accurate, that practice and put forward innovative ideas nothing has been left out that might make for improving the value they generate for what is said misleading and that the CEO each dollar raised from taxpayers. Only is aware of all material facts. The federal by constantly re-examining the sponsorship scandal suggests that a similar performance of existing programs can any degree of personal accountability could be government be sure of delivering value for helpful in restoring the trust of citizens in money and meeting the evolving needs of the accountability of elected officials, and Canadians. perhaps of senior public servants as well. In considering how to improve public • Parliamentary reform. A central governance through greater transparency and requirement for addressing the accountability, our experience with the impact of “democratic deficit” is a strengthening of the Sarbanes-Oxley Act in the United States and the powers of individual Members of its Canadian equivalents suggests that it is Parliament and of parliamentary essential not to over-react. The goal of personal committees. In particular, committees certification or of other new accountability need to have greater funding that would measures must be to improve the value that enable them to undertake independent governments deliver to taxpayers, not to stifle research. They should become an creativity, bog down decision-making or create important vehicle for fostering cross-party excessive costs. To put this another way, the cooperation, notably through aim must not be to provide more opportunities consideration of complex proposals while for opposition politicians to collect ministerial or legislation is being drafted and not just bureaucratic scalps, but rather to ensure full and after bills have been presented. And they accurate reporting by senior public servants and should be used to provide greater public by ministers on what the government is doing scrutiny of major government and how it is moving to fix the problems that appointments. inevitably emerge in the complex process of running a country. Rules that force business • An innovative and professional public executives to spend too much time talking with service. Whatever governments do, they lawyers and accountants instead of growing their must do well. Canada’s highly enterprises do not serve shareholders well; new professional and non-partisan public rules in government that stifle innovation and service is a vital national asset. To flexibility would be equally counterproductive continue to be effective, however, public for taxpayers. service at the federal, provincial and municipal levels must be capable of In addition to considering reforms to public attracting its share of talented and governance at the federal level, Canadians need motivated people. to take a hard look at how well the federation as a whole is working. Issues that must be To do this, governments must offer more addressed include how Canada’s various levels than just competitive compensation. of government distribute responsibility for the Public servants must feel empowered and work they do and for raising the necessary taxes,
Canadian Council of Chief Executives 5 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
as well as the more fundamental question of how government: federal, provincial, best to strengthen Canadian unity. Aboriginal and municipal.
• Organization of the federation. The • Fiscal federalism. Even within the recent federal election has renewed debate Constitution, there is a growing consensus about the way the Canadian federation is that the building blocks of fiscal working. Talk of constitutional change, federalism are crumbling. The division of an idea abandoned after the collapse of the responsibilities established a century and a Meech Lake and Charlottetown accords, is half ago no longer reflects the array of bubbling up again. So is the possibility of public policy issues that governments now another Quebec referendum on separation, face. In fact, most issues of vital this time matched by a worrying degree of importance to economic competitiveness autonomist thinking in Western Canada. cross jurisdictional boundaries.
We support the principle of subsidiarity, This confusion has been compounded by the idea that who does what within the the perception of a fiscal imbalance, one federation should be determined by which that sees federal government awash in level of government can provide the persistent budget surpluses even as many greatest value for each tax dollar. Past provincial governments struggle to cope attempts to reassign responsibilities with the seemingly limitless costs of through constitutional change have met public health care. Inter-provincial with little success, but nothing prevents jealousies are on the rise as well, fed by a any government from voluntarily series of ad hoc deals. As well as delegating particular responsibilities to rethinking who does what within the another government. federation, Canada needs to make sure that each responsibility is matched with In some cases, the evolving needs of the necessary taxing capacity. Canadians can best be met by delegating authority from the federal level to the • National unity. Finally, let us state the provinces, municipalities or First Nations. obvious. There is no point in forging a In other cases, such as the regulation of new national strategy if we let Canada fall securities markets, the time has come for apart. Quebeckers came within a whisker the provinces to delegate responsibilities of opting for independence a decade ago. either to the federal government or to a The years since have seen determined new pan-Canadian regulator. efforts to make the Canadian federation work better within the existing Each level of government must be Constitution, with important but modest accountable for the proper and effective results. We have seen the development of use of the money it raises through new institutions such as the Council of the taxation. We therefore would support Federation, but also persistent reluctance measures to improve transparency and to act decisively in strengthening the accountability at every level of economic and social union.
Canadian Council of Chief Executives 6 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
In terms of competitiveness, Canada We can conceive of no circumstances in which already faces a significant disadvantage in any Canadian would be better off as a result of a attracting jobs and investment because of break-up of the Canadian federation. The the small size of our economy relative to melding of our founding peoples and that of our closest neighbour and largest generations of immigrants has created a unique trading partner. Continuing barriers to the success story. We must strengthen that success, flow of people and money within our not abandon it. borders undermine our competitiveness further, and a political split would entrench and deepen these disadvantages.
THE NEED FOR A CREATIVE ECONOMY
ood governance is an essential enabler of maintain production from a Canadian base, G progress, but the quality of life of manufacturers must justify extensive investment Canadians ultimately flows from men and in new equipment and technologies that will women who invest and work to create wealth. boost efficiency even as their profits are The extent of our prosperity as a country squeezed. In the resource sector, by contrast, depends on how much value Canadians can high energy prices have generated plenty of cash create through their labour and what returns they for investment, but also created growing can earn on their savings. competition for the limited supply of skilled workers and incentives to invest in higher-cost This is why concepts such as productivity and sources of energy — a combination that by competitiveness matter to all Canadians. Other definition reduces productivity despite high countries are passing us by in raising their levels of profit and investment. standards of living because they have found ways to attract more investment, generate higher Future strong growth in real incomes will returns and create more jobs that pay higher depend primarily on productivity growth. This in wages. Higher productivity produces more turn requires moving up the value chain, money for individuals and families to improve abandoning activities in which Canadians cannot their quality of life directly. It also generates compete in order to focus our energies on more tax revenue for governments to provide activities that make better use of our time and better public services and infrastructure. investment. The focus on value is most obvious in the private sector, but it is just as important in Canadians today are feeling the competitiveness the public sector. Governments too must make challenge in different ways. Canada’s better use of their people and resources if manufacturers are facing intense pressure from Canada as a whole is to enjoy rising prosperity. the combination of a rising Canadian dollar, high energy costs and the rapidly expanding In practical terms, this means that Canada must economies of Asia. This has led to the loss of move decisively to shape its future as a creative almost 200,000 jobs since 2002. In order to economy, one in which each Canadian in each
Canadian Council of Chief Executives 7 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
region and each industry brings more value to few young people succeed in pursuing his or her labour. apprenticeships in skilled trades. Too many are discouraged by financial and To forge a prosperous future as a creative other barriers from attending college or economy, Canada must compete much more university. Where jobs are plentiful, too effectively on three fronts: people, ideas and many are lured into the labour force money. It must do better at unleashing the before achieving the level of education creative potential of all Canadians and at they need for a stable and satisfying attracting more talented people to our country. career. Where jobs are scarce, too many It must do better at encouraging Canadians to are seduced by government programs such generate innovative ideas and to put these ideas as Employment Insurance that encourage to effective use. Finally, Canada must make dependence on low-skill or seasonal work itself a much more attractive place for and that undermine interest in further individuals and companies to invest in education. innovative technologies and new ventures. • Training and lifelong learning. COMPETING FOR SKILLED PEOPLE Whatever education young Canadians receive before entering the labour market, Canada is midway through a profound it has become obvious that learning must demographic shift. In the 1990s, the central continue throughout their careers. Large challenge in economic policy was how to companies have, for the most part, generate enough jobs for our people. A decade accepted the need to invest heavily in their from now, the policy focus will be on ensuring employees both to improve productivity that Canada has enough skilled people for the and to attract and retain talented people. work that needs doing. While large employers can engage in training cost-efficiently, smaller Canada’s economic performance therefore will businesses and the self-employed face be heavily influenced by how successful we are greater obstacles. So do individuals who in making the most of our human talent and in want to pursue self-development outside attracting more talented people from other parts the boundaries of their employers’ of the world. Key issues include: programs.
• Education. Canada has a strong record in • Labour mobility. Canada’s overall ensuring access to basic education for all, unemployment rate is at a 30-year low, but and one of the best in the world in terms it remains high in many parts of the of participation at the post-secondary country. By the end of this decade, level. Even so, too many children fail to employers in Western Canada may need to complete high school. Too many of those fill as many as 350,000 net new jobs even who do finish high school need higher as almost half a million unemployed standards of literacy and numeracy to Canadians continue to live in Quebec and function effectively as global citizens. Too Atlantic Canada. While communities must
Canadian Council of Chief Executives 8 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
compete to attract investment and the jobs are keys to competitiveness and growth. There it creates, national policy must go beyond are several dimensions to the innovation helping the unemployed to adapt to new challenge. These include: job needs and should encourage people to move to where their skills are in demand. • Research and development. Government investment in R&D has increased • Aboriginal development. Aboriginal dramatically in recent years. While Canadians represent the fastest-growing private-sector activity has grown as well, segment of Canada’s labour market, but its overall performance is only middling the outcomes of past policies have been by global standards. Some of this shortfall appalling. The country’s fundamental relates to industrial structure: Canada has values demand equality of opportunity, a more small companies that tend to do less goal that can be achieved only if research, and its biggest companies are in Aboriginal youth become far more sectors that are less research-intensive successful in completing secondary globally. Other reasons appear to relate to studies and moving on to post-secondary public policy and management attitudes. learning. • Commercialization of research. Canadian • Immigration and integration. Canada’s universities and colleges are no slouches growth and prosperity have been built on when it comes to developing new ideas. immigration. The diversity of our Where Canada seems to fall short is in communities is becoming an increasingly transforming these ideas into successful important competitive advantage in a products and services. In addition to the global economy, yet the evidence suggests impact of the overall business that it is taking immigrants longer to find environment, possible causes include work related to their qualifications and to inconsistent attitudes toward intellectual catch up to the incomes of Canadian-born property rights, a lack of business workers. As other countries compete expertise among researchers and more aggressively for skilled and mobile universities and a shortage of venture people, Canada will need to do a much capital. better job of recruiting skilled immigrants, assessing and recognizing their credentials • Adoption of new technologies. and filling any gaps in knowledge that Competitive advantage flows not just from may limit their full and equal participation the development of new technologies, but in the labour force. from the way they are put to work. Information and communications COMPETING FOR IDEAS technologies in particular are powerful enablers of corporate productivity, but the The importance of innovation has been a public record of Canada’s private sector in policy mantra for years. In a world of change, adopting such tools is spotty. Again, developing new ideas and putting them to use larger companies that are internationally
Canadian Council of Chief Executives 9 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
engaged tend to be the leaders; smaller taxes have a direct impact on decisions businesses and those focused on domestic about when and where to invest. markets appear slower to adopt and invest Corporate tax policy therefore can be a in new technologies. powerful tool for attracting and retaining investment. Across the industrialized • A culture of entrepreneurship. People world, corporate tax rates have been who risk years of their lives and much of falling, leaving Canada with one of the their personal wealth to start new highest effective tax rates on business businesses are motivated by more than investment in the world. money. Entrepreneurs are drawn to countries and to communities where hard • Regulatory policy. Rules and regulations work, risk-taking and success are met with can encourage or discourage investment in approval rather than envy or criticism. many ways. Regulations are important in The evidence shows that Canada does well protecting the public interest, but rules at encouraging people to start businesses. need to be clear and the costs of We are not as good at encouraging small compliance should be kept as low as ventures to grow into big ones, and social possible. Regulators need to focus on attitudes toward entrepreneurship matter at achieving desired outcomes, not on least as much as the business environment. micromanaging corporate strategies. Regulatory processes have to be open and COMPETING FOR INVESTMENT predictable. Overlap and duplication among governments must be avoided. Economic growth requires investment. By Domestic rules should mesh as seamlessly shaping the business environment, public policy as possible with the highest international plays a critical role in helping to persuade standards and practices. investors both here and abroad to take risks in Canada. Key policy levers include: • International policy. A more open economy is the key to a more productive • Personal taxation. Business investment is economy. Domestic policy choices in heavily influenced by the availability of areas such as competition and foreign talented managers and workers. In investment have a direct impact on today’s global economy, these people are productivity and innovation. So does a increasingly mobile. A country’s ability to country’s degree of access to large attract investment by virtue of its supply markets. A country’s openness to trade of skilled people therefore is affected by and investment, and the way it manages its personal tax rates. So is the willingness of bilateral and multilateral relationships, individuals to risk their money in starting have a powerful impact on its ability to and building new businesses. attract investment.
• Corporate taxation. By reducing the potential returns to investors, corporate
Canadian Council of Chief Executives 10 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
THE FOUNDATIONS OF A CREATIVE ECONOMY
efore considering what Canada could do the absolute level of taxation, but also B better, it is important to recognize that what governments tax. Taxing investment, Canada already has built a solid for instance, does much greater damage to foundation for growth. We must continue to competitiveness and future growth than strengthen that foundation even as we examine raising the same amount of money through what needs to change. a consumption tax.
• Fiscal prudence. Continued commitment • Spending growth. Recent federal to running balanced budgets or surpluses surpluses have been driven by higher tax is the best way to give Canadians more revenues rather than reduced spending. choice in future about what we want our The initial assault on deficits in the mid- governments to do. Surpluses lead to 1990s did require cutbacks, but these have repayment of Canada’s still-huge national been more than fully restored. Federal debt. Debt reduction cuts the share of program spending has jumped by almost current taxes needed to pay interest on 50 percent in the past five years and 15 past deficits and shifts this money instead percent in the last fiscal year alone. to current services and useful investments Federal spending, both for transfers and in future growth. Federal debt as a share programs, has been growing faster than of the economy has dropped from a high the economy that supports it. of about 70 percent to less than 40 percent today, and is on track to reach 20 percent Governments should never increase within a decade. Interest payments that spending just because money is available. once consumed almost a third of all taxes There may be times when specific needs paid by Canadians still consume about one or public choices warrant an increase in tax dollar in six; the goal should be to the size of government relative to the reduce this burden to less than one dollar economy. On balance, though, we believe in ten. that Canada tends to suffer from too much government rather than too little. As a • Competitive taxation. With deficits general rule, program spending should eliminated, the federal government and rise no faster than the sum of population some provinces have recognized the growth and inflation. importance of competitive taxation. Tax rates went up in the struggle against • Health care. Canada’s universal public deficits, but have declined significantly in health care system is part of our country’s recent years on both personal and competitive foundation, but it also has corporate income. become the fastest-growing area of public spending. In recent years, the robust In using tax policy to improve growth of federal tax revenue has competitiveness, what matters is not just permitted huge increases in transfer
Canadian Council of Chief Executives 11 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
payments to provincial governments for external shocks and the domestic business health care. This pace of increase cannot cycle, its targets have proved effective and be sustained indefinitely. Federal and should be maintained. We also continue provincial governments need to put more to agree with the central bank that Canada emphasis on measuring the effectiveness is well served by the maintenance of a of current practices, learning from what floating currency that enables independent works and what does not at the local level monetary policy. and reforming the delivery of health care to ensure that it generates better health • Trade, aid and investment policy. outcomes for every dollar spent. Canadian trade policy consistently has recognized the need for our country to • Spending review and reallocation. To balance the dominance of our trade and ensure that they have the money to deal investment links in North America with with new or growing needs, governments strong support for the multilateral rule of should commit themselves to the rigorous law through institutions such as the World and continuing review of existing Trade Organization. Canada’s traditional spending. In 2003, our Council proposed leadership role at the global level has been that the federal government adopt a “five eroded in recent years and needs to be percent solution”, which would require restored. The 2005 federal review of that each year, each minister and each international policy did set an important deputy minister identify the least effective new direction in calling for a doubling of five percent of spending under their the aid budget while focusing Canada’s direction. This identification of relatively support on a smaller group of countries. ineffective spending would provide a pool This approach would make Canada’s of resources that could be reallocated to assistance more effective and should be new purposes if and when needed. The pursued. government adopted such an approach in its 2004 expenditure review exercise, but Given the slow pace of multilateral did not put in place a specific process for negotiations on trade and investment reviewing expenditures on an ongoing liberalization, Canada also needs to basis. reinforce its focus on strengthening bilateral ties with key partners including • Monetary policy is another area where the European Union, Japan, China and Canada has established a sound India. Trade policy must include foundation. The extraordinary efforts of continued efforts to strengthen the 1990s to bring down inflation have representation abroad and to expand the paid off with remarkable monetary limited pool of Canadian companies that stability. Canadians now take low trade and invest internationally. inflation and low interest rates for granted. While the Bank of Canada must • North American strategy. The Canada- remain vigilant in response to both United States and North American free
Canadian Council of Chief Executives 12 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
trade agreements were transforming in should consider the benefits of more far- their impact and vital spurs to the reaching strategies to strengthen North economic growth that Canadians have American competitiveness. enjoyed over the past decade and a half. But the tone of the Canada-United States • Sovereignty and security. In North relationship has been frayed badly in America and globally, maintaining the recent months by election-driven rhetoric. open flow of goods and people requires Whatever the personal dynamics between governments to address the threat of leaders and however deep the international terrorism. Canada remains disagreements between our countries on committed to support for multilateral specific issues, the way Canada chooses to institutions in providing peace and human manage this bilateral relationship will security. In addition, it has recognized the have a huge impact on our future need to work closely with the United economic growth. States in strengthening our mutual security while ensuring the smooth flow of people Important progress in deepening Canada’s and goods between our two countries. North American relationships continues to be made across a wide front through the Finally, the federal government has recognized Security and Prosperity Partnership, that to fulfill its responsibilities to protect signed by the leaders of Canada, Mexico Canadians and to contribute to continental and and the United States in March 2005. The global security, it must make substantial new four key priorities remain: transportation investments in Canada’s military. Canada has and border infrastructure; regulatory yet to decide, however, whether its economic cooperation; North American energy and development will be served best by focusing on environmental strategy; and development greater efficiency and value for money in of continental approaches to managing procurement or through the conscious use of shared risks, including terrorism and military spending to foster business research, global pandemics. But as our Council and innovation and product development. other organizations in all three countries have recommended in recent years, we
TEN SOLID STEPS TOWARD A CREATIVE ECONOMY
aintaining policies that have proven these ten measures would lead to meaningful M effective is relatively easy, but Canada progress in strengthening Canada’s ability to needs to do more. On the following compete for people, ideas and investment. pages, we offer ten specific recommendations that should be capable of attracting broad 1. Start with families and communities. If support in Parliament and nationally. Together, Canada is to succeed in forging a creative
Canadian Council of Chief Executives 13 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
economy, we cannot afford to waste the tax credit to make it at least equivalent to talents of a single Canadian. In this the credit for donations to political parties. context, Canada needs to reduce the A creative economy must be built from financial burden of raising children and the ground up. preparing them for productive lives as global citizens. Businesses need to 2. Learn from our children’s schools. sharpen their focus on providing an Access to good education and lifelong appropriate work-life balance for learning is the essential foundation both of employees in order to attract and retain the equality of opportunity and of economic people they need in an increasingly competitiveness. Canada’s record in competitive labour market. Governments providing education is strong, but we have must do more to enable parents to give weaknesses and we need to keep raising their children the best possible start in life. our sights. Delivery of education is largely The federal government should start by a provincial responsibility, but the federal reducing the steep clawback provisions of government has a duty both to ensure that the Canada Child Tax Benefit that individuals have access to learning and to penalize families with modest incomes provide a policy framework that and by providing new support for child encourages the highest possible quality of care, whether in the home or in education. institutional settings. The recently established Canadian Council In addition, government policy should do on Learning is fostering a wide range of more to recognize the vital support new research across every aspect of families receive from non-profit learning and is working with the provinces organizations in their communities. and Statistics Canada in developing new Whether in supporting families or in measures of educational outcomes. devising solutions to other economic and Efforts to date, however, just scratch the social challenges, community-based surface of what Canadians ought to know. organizations are fountains of innovation. Parents should be able to compare the Businesses increasingly recognize that the performance of their communities’ development of vibrant, creative schools against others across town and communities has a direct impact on their across the country. Employers should be competitiveness, in particular by helping able to assess the value of a graduate’s them to attract, develop and motivate diploma and marks in terms of relative employees. Public policy should do more levels of knowledge and skills. Teachers, to reinforce grassroots creativity. Personal principals and school boards need to know tax rules should provide more generous what works and what does not so they can treatment of charitable contributions, learn and deliver better results. including the elimination of capital gains tax on donations of appreciated property In the United States, the private sector has and an increase in the charitable donations been an important contributor to cooperative ventures. One example is the
Canadian Council of Chief Executives 14 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
program known as Just for the Kids, what needs to be done to speed up which brought together policy makers, integration of new immigrants into the educators, parents and corporate sponsors economic mainstream is within provincial to develop a detailed database that allows jurisdiction, including the roles of parents to see how their children’s school education providers and self-regulated is doing, in each major subject and each professions. In addressing these issues, grade, over time and in comparison with federal and provincial governments should the top-performing schools serving avoid imposing one-size-fits-all comparable groups of children. In 2006, approaches, and should focus on enabling the United States Chamber of Commerce the creative energy of non-profit will conduct independent research to organizations at the community level. identify and rank student performance by state and even by county to help 4. Turn creative ideas into businesses. The businesses decide where to locate. federal government has poured billions of dollars in new funding into university The need for good information about research in recent years. Now the educational performance is critical to emphasis is on how to turn more of the economic competitiveness as well as to discoveries flowing from this research into individual opportunity. Provincial viable businesses. The Leaders’ governments should take the lead in Roundtable on Commercialization, assessing how well students and schools sponsored by the Conference Board of are doing and sharing this information as Canada, produced six “quick hit” widely and completely as possible. The recommendations in April 2005 and is federal government should assist, and working on longer-term strategies. More Canada’s private sector should be recently, the interim report of Industry prepared to do its part. Canada’s Expert Panel on Commercialization identified a series of 3. Help immigrants do better, faster. The measures that could be taken to improve importance of maintaining strong flows of Canada’s performance. We support in skilled immigrants is widely understood, particular its call for a new model of and the barriers to more effective leadership built around a integration of immigrants into the labour Commercialization Partnership Board. market are well known. What is needed is This would be a business-led body to coordinated action. The federal review and make recommendations on government must focus on more effective proposals for new programs and changes marketing to potential economic migrants to existing programs. It would assess their as well as faster and simpler processing, results on a regular basis so that especially when companies are bringing commercialization policy continues to skilled people to this country on a evolve based on real-world experience. In temporary or permanent basis. Assessment addition to adopting this model for of foreign credentials might be done more commercialization policy, the government effectively on a national basis. Most of
Canadian Council of Chief Executives 15 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
should consider extending the idea of need to develop a national energy strategy, independent public review of proposals but it should be focused on how to serve and performance to other federal programs the growing demand for energy in Canada that address industrial development and and North America while improving competitiveness. environmental performance. This will require coordinated action by federal and 5. Forge an environmental advantage. provincial governments in areas that Clean air and water, unmatched scenery include taxation and regulation. A and attractive cities are among Canada’s Canadian energy strategy must address the most important advantages in competing needs of both energy consumers and for investment, and a commitment to producers, use competitive market forces sustainable development is central to our to expand the supply of the full range of national brand. As the beneficiary of so energy forms, reduce the stresses and many natural resources and custodian of strains within our electricity transmission so much of the world’s land and fresh network and ensure that Canadian energy water, Canada has both an opportunity and resources remain an important source of a responsibility to make the best use of its national advantage. natural wealth. Canadian businesses need to expand their efforts to develop and 7. Cut the cost of regulation. The deploy new technologies for reducing the Netherlands has shown that it is possible impact of their production on the to cut the cost of regulation without in any environment. Public policy should way lowering regulatory standards. The encourage greater conservation and waste first step was to develop a simple way to reduction as well as more investment in measure how much it costs businesses to renewable energy and innovative fill out forms. This regulatory burden is environmental technologies. A creative calculated by an independent body, and economy must be an environmentally each government department has been told sustainable economy. to cut its burden by 25 percent by 2007. In just four years, this strategy will generate Our performance as a country in turn will 4 billion euros in savings, a 1.7 percent determine our effectiveness as a leader in increase in labour productivity and a 1.5 addressing worldwide environmental percent rise in economic growth. issues such as climate change. On this Departments that fail to meet their targets issue, there is an urgent need to work with will see their own budgets cut by an others both inside and outside the amount equal to the excess costs they framework of the Kyoto Protocol to charge to others. develop a long-term and global solution. In Canada, the Canadian Federation of 6. Develop a Canadian energy strategy. Independent Business (CFIB) estimates Rising energy prices have raised fears that that the cost to business of complying with the federal government might repeat the regulations is at least $33 billion a year. mistakes of the early 1980s. Canada does The federal Smart Regulation initiative,
Canadian Council of Chief Executives 16 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
and in particular its Advisory Committee The private sector invests directly in some on Paperwork Burden Reduction, has forms of infrastructure such as railways opened the door to a Netherlands-style and communications networks. It has a approach in Canada. Keeping the cost of responsibility to contribute to a healthy compliance as low as possible is essential environment. It is a major supporter of in maintaining high regulatory standards cultural institutions in our communities. within a competitive economy. And it has an essential role working with governments to expand Canada’s stock of 8. Invest creatively in infrastructure. A public infrastructure, whether in country’s productivity and prosperity are competing for construction contracts or in strongly linked to the quality of its investing in public-private partnerships. physical infrastructure. This is particularly Canada has the resources to catch up with true in Canada, given its vast size and its infrastructure shortfall and prepare for dependence on international trade. Many future growth. There is no excuse for forms of infrastructure matter to Canada’s failing to move quickly. competitiveness, including: 9. Cut taxes on investment. To foster • Transportation. The state of Canada’s growing enterprises that create jobs and roads, railways, airports, seaports and raise family incomes, tax policy should land border crossings has a direct impact encourage people to invest in businesses on trade and economic growth. and businesses to invest in growth. Personal tax rules therefore should do • Information and communications. more to encourage savings. At the same Information and communications time, the federal and provincial technologies are critical both in governments must work together to reduce connecting Canadians and in enabling Canada’s effective marginal tax rate on businesses to be more innovative and business investment, which is now one of productive. the highest in the world. (We note that • Environment. Air and water quality even high-tax Scandinavian countries have together with parks and recreational recognized that low corporate taxes are facilities play a vital role in improving critical drivers of business investment.) the overall quality of life and in making Canadian communities attractive places As a small economy next door to the vast to live and to invest. market of the United States, Canada must offer compelling reasons for investors in • Culture. The quality of a community’s North America to build businesses north cultural infrastructure also has a direct of the 49th parallel. The top priority impact on quality of life and therefore should be the elimination of federal and on the competitiveness of communities provincial taxes on capital. While further in attracting people and investment. cuts to statutory corporate income tax rates would be the best way to improve
Canadian Council of Chief Executives 17 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Canada’s competitiveness, targeted Canada must stand firm in insisting that measures such as better capital cost the United States respect the terms of the allowance rates and investment tax credits NAFTA in addressing trade disputes such may be cheaper in the short term. as softwood lumber. At the same time, it Governments also should consider how to must continue to work vigorously with the make research and development tax United States and Mexico on the broad credits more effective and how the tax agenda laid out by the Security and system could encourage more business Prosperity Partnership signed in 2005, investment in employee training. where progress on regulatory issues, for instance, may remove much of the basis 10. Repair the Canada-United States for launching trade actions within North relationship. Friendship and respect are America. the hallmarks of Canada’s relationship with its closest neighbour and largest On the security front, Canada must: work trading partner. As our Council made clear closely with the United States as it develops an in launching our North American Security alternative to passports for travel within North and Prosperity Initiative in 2003, it is in America; carry through on its commitment to Canada’s fundamental interest to pursue reinvest significantly in its military capability; bilateral and trilateral agreements that will and support an expanded mandate for the North keep our border with the United States as American Aerospace Defence Command open as possible, and this requires hard (NORAD) agreement to include maritime as work on issues related to security as well well as air approaches. In this context, we would as the meat and potatoes of economic restate our view that it is in Canada’s interest to linkages. participate in the ballistic missile defence program. The immediate priority is to rebuild the mutual respect between leaders that was left in tatters by the recent campaign.
FIVE CREATIVE LEAPS TO CONSIDER
hen tackling issues of long-term 1. Abolish taxes on creativity. One W strategy, it is critical not to limit the fundamental principle of taxation is to scope of our thinking to mere avoid taxing what you wish to encourage. adjustments in current models and practices. If Canada’s future prosperity will flow We therefore want to put on the table a handful from its ability to attract talented people, of more ambitious proposals in the hope that our develop new ideas and put them into ideas will spur the development of innovative action, an obvious step would be to slash new approaches to Canada’s public policy the tax burden imposed on economic gains framework. from intellectual property. The value of
Canadian Council of Chief Executives 18 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
making Canada a haven for creative minds successful graduates who move elsewhere is not limited to the patents that flow from to work. We would prefer to see an technological research. There is growing environment in which colleges and evidence that artistic and cultural universities compete freely on the basis of creativity plays an important role in quality and fees, with government support transforming communities into focused on two areas: reducing barriers to destinations of choice for skilled people in access and improving the rewards for any occupation. While we and others have graduates. The first can be achieved made much of the importance of low through expansion of scholarships, grants corporate income taxes to the phenomenal and loans on terms that reduce the risks success of Ireland’s economy, that country that students assume. The second can be since 1969 has exempted artists and achieved either through lower general tax writers from income tax on earnings from rates or targeted measures such as tax their works of art. Royalties and other credits that reward graduates over time if earnings from patent rights also are tax- they continue to work and pay taxes in exempt. In its 2006 budget, Ireland put a Canada. cap on tax-free artistic earnings, but it still covers the first 250,000 euros. This is Challenges to access are not limited to about ten times the $30,000 exemption on formal college and university programs. copyright income unsuccessfully proposed We need to encourage Canadians to a few years ago by the Canadian engage in learning throughout their Conference of the Arts and a similar working lives. Large companies are provision adopted in Quebec in 1995. generally supportive of such efforts because they understand that investing in 2. Offer a new deal to learners. Education training pays off in many ways, including and training is the foundation of individual the recruitment, retention and opportunity and national prosperity. development of talented people. The While education is a provincial biggest issue is how to encourage more responsibility, the federal government has training by smaller employers and how to a vital role to play in ensuring access to enable the self-employed and employees learning opportunities throughout each without employer support to upgrade their Canadian’s working life, whether through skills. What is needed is a combination of colleges and universities, apprenticeships financial incentives for individuals and or ongoing training, and whether funded companies along with determined efforts by an employer or an individual. to work with public and private providers of learning to expand the available range Some countries focus on providing low or and flexibility of training opportunities. free tuition, offset by higher personal tax rates. In our view this is 3. Hand the GST to the provinces. In 2002, counterproductive and tends to lead both Quebec’s Seguin Commission on the to underfunded institutes of learning and Fiscal Imbalance called for the elimination
Canadian Council of Chief Executives 19 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
of all health and social transfers from the for about 6 cents out of every 7 cents federal government to the provinces and raised by the GST. Assuming that the the abolition of the Goods and Services new federal government is able to follow Tax. This reduction of federal taxation through on its promise to cut the GST by would enable provincial governments to one percentage point immediately, the replace federal transfers by raising their remaining GST revenue pool would own taxes. Many experts have suggested closely match current social transfers and responding to the perceived fiscal would continue to grow in line with the imbalance through a similar approach economy. This approach would maintain although to a lesser degree, and most the administrative efficiency of a national favour the GST as the best place for the tax and the redistributive impact of the federal government to vacate tax room. way transfers are now allocated to each province. At the same time, provinces that This approach has several important have not yet done so should convert their virtues. It would give the provinces sales taxes to value-added taxes. This assured access to a stable and growing would have a major impact in reducing source of revenue. It would encourage the Canada’s effective tax rates on new federal government to focus on its core investment. Linking the GST to health responsibilities instead of continuously and social transfers would tie Canada’s looking for ways to intrude in provincial least popular tax to its most popular public jurisdiction. It would make provincial service. To open the door to greater politicians directly accountable for the tax accountability, the federal government dollars they spend. also could give the provinces control over the size of the transfer pie by allowing On the other hand, a shift in tax room them collectively to set the GST rate. The would (for better or worse) reduce the more directly and permanently the federal ability to ensure national standards provinces agreed to take this in areas of provincial jurisdiction. Absent responsibility, the less room the federal offsetting changes in the equalization government would have to intrude in the program, transferring tax room would way provinces chose to use the funds. widen the gap between have and have-not provinces. And giving up the GST, its A similar approach could be taken to most stable revenue source, would leave meeting the needs of Canada’s urban federal budgets subject to greater cyclical communities. Cities have been promised volatility. revenue from the federal gasoline tax. Without changing the planned method of A less radical alternative would be to distributing this revenue, the federal maintain the current formula for government could improve accountability distributing social transfers, but to tie the by delegating responsibility for setting the size of the transfer pool to the GST. gas tax rate to municipal governments, Health and social transfers now account perhaps through the Federation of
Canadian Council of Chief Executives 20 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Canadian Municipalities. Because First and foremost, respecting this municipalities are creatures of provincial principle would dramatically improve law, any such decision would need the labour mobility. Canada has regions of concurrence of provincial governments. high unemployment, yet the country as a whole is facing a growing structural One way or another, Canadians have made labour shortage. Federal policy should it clear that their priorities for increased stop encouraging people to wait for jobs to public spending for the foreseeable future come to them. This would mean will be largely in areas of provincial fundamental reform of the Employment jurisdiction, notably health care. The Insurance system, returning it to its central current ad hoc approach is unstable and purpose of protecting people against short- muddles accountability. A formal transfer term job loss and eliminating its regional either of tax room or of the revenue from a biases. It also would mean dramatic designated tax source would improve both reductions in regional development stability and accountability, and the GST subsidies to businesses. The federal is an appropriate tax source because it is government should use tax and regulatory tied closely to the rate of economic policy to create a business environment growth, which in turn should determine that encourages profitable growth no the base for sustained funding of social matter where in Canada a company sets up services. shop. Provinces and communities should take responsibility for creating the 4. Support people rather than places. The conditions that would attract particular responsibility to attract investment, jobs companies to particular places. and people to particular communities belongs to provincial and municipal A similar approach could significantly governments. Once reform of taxation, improve the lives of Aboriginals — for transfers and equalization have ensured whom federal spending through existing that provinces have the tax capacity they programs of close to $9 billion a year is need for their responsibilities, the federal achieving far too little impact. In this case, government should focus its support on the principle of supporting people rather individual Canadians, without regard to than places would imply a reduction of where they live. This is already the case federal bureaucracy and an increase in for seniors and for children. direct transfers to Aboriginals, whether they choose to live and work on or off Adopting the principle of supporting reserves. Taken to its ultimate conclusion, individuals across the board would have a this principle might even see all federal significant impact in three other spheres: support directed to individual Aboriginals, Employment Insurance, regional with First Nations then imposing taxes of development and First Nations. their own choosing and being accountable to their own residents for the uses made of
Canadian Council of Chief Executives 21 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
this money in providing services and All the Scandinavian countries, for improving the quality of life on reserves. instance, have what are called “dual income” tax systems, in which dividends, 5. Tax spending rather than earning. To capital gains and interest income is taxed encourage the investment that drives at a much lower rate than other personal personal incomes and business growth, the income. The Netherlands follows a similar personal income tax structure should policy. In the United States, the recent continue to shift toward a consumption report of the President’s Advisory Panel base. In the short term, this could be done on Federal Tax Reform proposed a by further expansion of RRSP “Growth and Investment Tax Plan” that contribution limits, creation of a would shift the personal tax system toward supplementary tax-prepaid savings plan a consumption base while continuing to (no deduction for contributions but no tax collect taxes in a progressive manner. on withdrawal), and additional cuts in the tax rate on investment income. As a basic This approach enables governments to raise the principle, Canada should tax people for money they need today while doing as little living like millionaires rather than damage as possible to future economic growth penalizing them for earning a million and thereby adding as much as possible to their dollars. future spending capacity.
FROM IDEAS TO ACTION
n the 1990s, Canadians waited for a crisis Parliament’s work must be mirrored in our I before acting decisively. Today, many country’s provincial legislatures. Canadians feel satisfied with our country’s progress, and without a sense of urgency, it is We believe that most Canadians would support difficult to mobilize consensus around wholeheartedly the goal of a country that is controversial issues. We would suggest, more prosperous as well as safer, cleaner, however, that the best time to contemplate healthier, more balanced, more creative and fundamental change is when we can build on our more connected with the world. strengths rather than when we have our backs against the wall. To move from broad ideas to effective action, Canada needs some means of bringing people The most recent federal campaign produced a together to discuss specific goals and proposals. remarkable and welcome degree of debate about While Parliament has every right to take the policy choices. Elections, however, are lead, its preoccupation with day-to-day political exercises in competition, not consensus building. tactics suggests that Canadians cannot rely on Now that the votes have been counted, it is up to Parliament alone to lead a discussion about long- the new Parliament to decide how to proceed in term strategy. shaping and advancing our national priorities.
Canadian Council of Chief Executives 22 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
In the past, governments have turned to Royal provoking open and honest debate about Commissions to examine grand strategic issues. complex and controversial topics and to do our While such commissions have been effective in best to help our country reach consensus the past and may be helpful now, their broad wherever possible with a minimum of delay. mandates and long timelines also have been used as an excuse for inaction. We have faith in Canada’s entrepreneurial spirit. Canadians take pride in our past but also Another option is a consensus-building process recognize that we must learn from our that would exist independently of government. experience and that we must show more This approach can involve more than one strand determination and creativity than ever before if and may proceed alone or in tandem with we want our children to prosper in the decades government initiatives. Any credible ahead. independent process of course would have to be inclusive in its participation and not be seen as a We do not expect every Canadian to agree with front for any one sector or group. At the same every idea we have put forward. We do believe time, its inclusive nature should not prevent its that all Canadians are tired of political deadlock members from being passionate about the cause and eager to move on to a more productive and and focused on producing meaningful results in cooperative discourse about our aspirations as a a short time frame. country and about what we must do to achieve a shared vision. We believe in Canada’s immense The members of the Canadian Council of Chief potential within an open global economy, and Executives will continue to contribute to the we are committed to working with others to national dialogue. In doing so, we are not trying realize the goal we described six years ago in to drive some mythical “corporate agenda”. our Canada Global Leadership Initiative, that of Rather, because we care about our country’s making Canada “the best place in the world in future, we are willing to take the risk of which to live, to work, to invest and to grow”.
Canadian Council of Chief Executives 23 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
APPENDIX I: CANADIAN COUNCIL OF CHIEF EXECUTIVES
The Canadian Council of Chief Executives is Canada’s premier business organization. A non-profit, non- partisan organization, the Council is composed of the chief executives of 150 of the country’s leading enterprises. Its member companies administer close to C$3 trillion in assets, have annual revenues of more than C$650 billion and are responsible for the vast majority of Canadian investment, exports, training and research and development.
The Council’s mission is to be a global leader among CEO-based national business associations in advancing sound public policy ideas and solutions in Canada, North America and the world. It engages in research, consultation and advocacy on a wide variety of public policy issues including fiscal and monetary policy, international trade and investment, education, health and the environment, foreign policy and security, and corporate governance.
In 2001, in celebrating its 25th anniversary, the Council made a commitment to help make Canada “the best place in the world in which to live, to work, to invest and to grow.” This remains our overarching goal today, and lies at the heart of our latest initiative, Canada First! Taking the Lead in a Transforming Global Economy, launched in June 2005.
The members of the Council’s Executive Committee are: Chairman Richard L. George, President and Chief Executive Officer of Suncor Energy Inc.; Chief Executive and President, Thomas d’Aquino; Honorary Chairman A. Charles Baillie; and Vice-Chairmen Dominic D'Alessandro, Paul Desmarais, Jr., Jacques Lamarre, Gordon M. Nixon and Hartley T. Richardson, the chief executives respectively of Manulife Financial, Power Corporation of Canada, SNC-Lavalin Group Inc., Royal Bank of Canada and James Richardson & Sons, Limited.
Canadian Council of Chief Executives 24 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
APPENDIX II: MEMBERSHIP - CANADIAN COUNCIL OF CHIEF EXECUTIVES
Bruce M. Aitken 4 Larry C. Barrett President and Chief Executive Officer Chair Methanex Corporation Canadian Manufacturers & Exporters and VANCOUVER, British Columbia President Emerson Electric Canada Limited M. Elyse Allan 2 MONTREAL, Quebec Member, Board of Directors Canadian Council of Chief Executives and 3 Thomas J. Bata President and Chief Executive Officer Member, Entrepreneurs’ Circle General Electric Canada Canadian Council of Chief Executives and MISSISSAUGA, Ontario Honorary Chairman Bata Limited John K. Amundrud TORONTO, Ontario President and Chief Executive Officer Coril Holdings Ltd. 2 W. Geoffrey Beattie Calgary, Alberta Member, Board of Directors Canadian Council of Chief Executives and Leonard J. Asper 2, 3 President Member, Board of Directors and The Woodbridge Company Limited Member, Entrepreneurs’ Circle TORONTO, Ontario Canadian Council of Chief Executives and President and Chief Executive Officer 2, 3 Laurent Beaudoin CanWest Global Communications Corp. Member, Board of Directors and WINNIPEG, Manitoba Member, Entrepreneurs’ Circle
3 Canadian Council of Chief Executives and Michael J. Audain Chairman and Chief Executive Officer Member, Entrepreneurs’ Circle Bombardier Inc. Canadian Council of Chief Executives and MONTREAL, Quebec Chairman Polygon Homes Ltd. Alain M. Bellemare VANCOUVER, British Columbia President
1, 2 Pratt & Whitney Canada Corp. A. Charles Baillie LONGUEUIL, Quebec Honorary Chairman Canadian Council of Chief Executives 3 TORONTO, Ontario Peter J. G. Bentley Member, Entrepreneurs’ Circle John R. Barnett Canadian Council of Chief Executives and President and Chief Executive Officer Chairman Rothmans Inc. Canfor Corporation NORTH YORK, Ontario VANCOUVER, British Columbia
Canadian Council of Chief Executives 25 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Jean Bernier Tony Comper President President and Chief Executive Officer Ultramar Ltd. BMO Financial Group MONTREAL, Quebec TORONTO, Ontario
Pierre Blouin Marcel R. Coutu Chief Executive Officer President and Chief Executive Officer MTS Allstream Inc. Canadian Oil Sands Limited WINNIPEG, Manitoba CALGARY, Alberta
Ron A. Brenneman 2 David M. Culver Member, Board of Directors Past Council Chairman Canadian Council of Chief Executives and Canadian Council of Chief Executives President and Chief Executive Officer (formerly Business Council on National Issues) Petro-Canada and Chairman CALGARY, Alberta CAI Capital Corporation MONTREAL, Quebec Robert E. Brown President and Chief Executive Officer 1, 2 Dominic D'Alessandro CAE Inc. Vice-Chairman SAINT-LAURENT, Quebec Canadian Council of Chief Executives and President and Chief Executive Officer Claudio F. Bussandri Manulife Financial President and Chief Executive Officer TORONTO, Ontario McKesson Canada SAINT-LAURENT, Quebec Patrick D. Daniel President and Chief Executive Officer John M. Cassaday Enbridge Inc. President and Chief Executive Officer CALGARY, Alberta Corus Entertainment Inc. TORONTO, Ontario 1, 2 Thomas d’Aquino Chief Executive and President Yvon Charest Canadian Council of Chief Executives President and Chief Executive Officer OTTAWA, Ontario Industrial Alliance Insurance and Financial Services Inc. 3 Arthur A. DeFehr SILLERY, Quebec Member, Entrepreneurs’ Circle Canadian Council of Chief Executives and President and Chief Executive Officer Christie J. B. Clark Palliser Furniture Ltd. Chief Executive Officer WINNIPEG, Manitoba PricewaterhouseCoopers LLP TORONTO, Ontario 3 Marc de La Bruyère Member, Entrepreneurs’ Circle W. Edmund Clark Canadian Council of Chief Executives and President and Chief Executive Officer Chairman TD Bank Financial Group Maclab Enterprises TORONTO, Ontario EDMONTON, Alberta
Canadian Council of Chief Executives 26 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
André Desmarais 3 Richard B. Evans Member, Entrepreneurs’ Circle President and Chief Executive Officer Canadian Council of Chief Executives and Alcan Inc. President and Co-Chief Executive Officer MONTREAL, Quebec Power Corporation of Canada MONTREAL, Quebec 3 Kenneth E. Field Member, Entrepreneurs’ Circle Paul Desmarais, Jr. 1, 2, 3 Canadian Council of Chief Executives and Vice-Chairman and Chairman and Chief Executive Officer Member, Entrepreneurs’ Circle Commercial Alcohols Inc. Canadian Council of Chief Executives and TORONTO, Ontario Chairman and Co-Chief Executive Officer Power Corporation of Canada 2 J. Bruce Flatt MONTREAL, Quebec Member, Board of Directors Canadian Council of Chief Executives and Craig L. Dobbin 3 President and Chief Executive Officer Member, Entrepreneurs’ Circle Brookfield Asset Management Inc. Canadian Council of Chief Executives and TORONTO, Ontario Executive Chairman CHC Helicopter Corporation 3 James D. Fleck ST. JOHN’S, Newfoundland Member, Entrepreneurs’ Circle Canadian Council of Chief Executives and Guy G. Dufresne 4 Chairman, Board of Directors Chairman of the Board ATI Technologies Inc. Conseil du patronat du Québec and TORONTO, Ontario President and Chief Executive Officer Quebec Cartier Mining Company Dan J. Fortin MONTREAL, Quebec President IBM Canada Ltd. N. Murray Edwards 3 MARKHAM, Ontario Member, Entrepreneurs’ Circle Canadian Council of Chief Executives and 3 David A. Ganong President Member, Entrepreneurs’ Circle Edco Financial Holdings Ltd. Canadian Council of Chief Executives and CALGARY, Alberta President Ganong Bros. Limited Darren Entwistle ST. STEPHEN, New Brunswick President and Chief Executive Officer TELUS Alan W. Garner VANCOUVER, British Columbia President and Chief Executive Officer Marsh Canada Limited Randall K. Eresman TORONTO, Ontario President and Chief Executive Officer EnCana Corporation CALGARY, Alberta
Canadian Council of Chief Executives 27 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Richard L. George 1, 2 2 Scott M. Hand Chairman Member, Board of Directors Canadian Council of Chief Executives and Canadian Council of Chief Executives and President and Chief Executive Officer Chairman and Chief Executive Officer Suncor Energy Inc. Inco Limited CALGARY, Alberta TORONTO, Ontario
Serge Godin 2, 3 Ian F. Hardgrove Member, Board of Directors and President and General Manager Member, Entrepreneurs’ Circle 3M Canada Company Canadian Council of Chief Executives and LONDON, Ontario Executive Chairman CGI Group Inc. Richard J. Harrington MONTREAL, Quebec President and Chief Executive Officer The Thomson Corporation Blake C. Goldring 3 STAMFORD, Connecticut Member, Entrepreneurs’ Circle Canadian Council of Chief Executives and John Harris President and Chief Executive Officer Chairman and Chief Executive Officer AGF Management Limited Harris Steel Group Inc. TORONTO, Ontario STONEY CREEK, Ontario
J. Lindsay Gordon E. Hunter Harrison President and Chief Executive Officer President and Chief Executive Officer HSBC Bank Canada CN VANCOUVER, British Columbia MONTREAL, Quebec
Anthony R. Graham Frank H. Hart President President Wittington Investments, Limited EDS Canada Inc. TORONTO, Ontario TORONTO, Ontario
Michael A. Grandin Duncan Hawthorne Chairman and Chief Executive Officer President and Chief Executive Officer Fording Canadian Coal Trust Bruce Power CALGARY, Alberta TIVERTON, Ontario
Ross A. Grieve Tim J. Hearn President and Chief Executive Officer Chairman, President PCL Construction Group Inc. and Chief Executive Officer EDMONTON, Alberta Imperial Oil Limited
2 CALGARY, Alberta Michael A. Grimaldi Member, Board of Directors Mark Henderson Canadian Council of Chief Executives and President and Chief Executive Officer President Ericsson Canada Inc. General Motors of Canada Limited MISSISSAUGA, Ontario OSHAWA, Ontario
Canadian Council of Chief Executives 28 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Paul J. Hill 2, 3 Deryk I. King Member, Board of Directors and Chairman and Chief Executive Officer Member, Entrepreneurs’ Circle Direct Energy Canadian Council of Chief Executives and TORONTO, Ontario President and Chief Executive Officer Harvard Developments Inc. - A Hill James S. Kinnear Company President and Chief Executive Officer REGINA, Saskatchewan Pengrowth Management Limited CALGARY, Alberta William L. Hunter President and Chief Executive Officer Hiroshi Kobayashi Angiotech Pharmaceuticals, Inc. President and Chief Executive Officer VANCOUVER, British Columbia Honda Canada Inc. TORONTO, Ontario Chris Huskilson President and Chief Executive Officer 3 Joseph Kruger II Emera Inc. Member, Entrepreneurs’ Circle HALIFAX, Nova Scotia Canadian Council of Chief Executives and Chairman and Chief Executive Officer Joseph Iannicelli Kruger Inc. President and Chief Executive Officer MONTREAL, Quebec The Standard Life Assurance Company of Canada Hal Kvisle MONTREAL, Quebec Chief Executive Officer TransCanada Corporation Duncan N. R. Jackman 3 CALGARY, Alberta Member, Entrepreneurs’ Circle Canadian Council of Chief Executives and Neil J. Labatte Chairman and Chief Executive Officer President and Chief Executive Officer E-L Financial Corporation Limited Legacy Hotels REIT TORONTO, Ontario TORONTO, Ontario
Daryl A. Katz 3 1, 2 Jacques Lamarre Member, Entrepreneurs’ Circle Vice-Chairman Chairman and Chief Executive Officer Canadian Council of Chief Executives and The Katz Group of Companies President and Chief Executive Officer EDMONTON, Alberta SNC-Lavalin Group Inc. MONTREAL, Quebec Benjamin Kemball President and Chief Executive Officer Steven J. Landry Imperial Tobacco Canada Limited President and Chief Executive Officer MONTREAL, Quebec DaimlerChrysler Canada Inc. WINDSOR, Ontario Hassan Khosrowshahi 3 Member, Entrepreneurs’ Circle R. Jack Lawrence Canadian Council of Chief Executives and Chairman Chairman and Chief Executive Officer Lawrence & Company Inc. Inwest Investments Ltd. TORONTO, Ontario VANCOUVER, British Columbia
Canadian Council of Chief Executives 29 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Donald R. Lindsay 2, 3 Ronald N. Mannix President and Chief Executive Officer Member, Board of Directors and Teck Cominco Limited Member, Entrepreneurs’ Circle VANCOUVER, British Columbia Canadian Council of Chief Executives and Chairman Jeffrey M. Lipton 2 Coril Holdings Ltd. Member, Board of Directors CALGARY, Alberta Canadian Council of Chief Executives and President and Chief Executive Officer 4 Russel Marcoux NOVA Chemicals Chair MOON TOWNSHIP, Pennsylvania Canadian Chamber of Commerce and Chief Executive Officer Doug Lord Yanke Group of Companies President and Chief Executive Officer SASKATOON, Saskatchewan Xerox Canada Ltd. NORTH YORK, Ontario Albert Maringer President and Chief Executive Officer Brandt C. Louie 3 Siemens Canada Limited Member, Entrepreneurs’ Circle MISSISSAUGA, Ontario Canadian Council of Chief Executives and President and Chief Executive Officer Clive Mather H.Y. Louie Co. Limited President and Chief Executive Officer RICHMOND, British Columbia Shell Canada Limited CALGARY, Alberta Rebecca MacDonald 3 Member, Entrepreneurs’ Circle Fumikazu Matsuura Canadian Council of Chief Executives and President and Chief Executive Officer Executive Chair Mitsubishi Canada Limited Energy Savings Income Fund VANCOUVER, British Columbia TORONTO, Ontario 3 Michael H. McCain Alan N. MacGibbon Member, Entrepreneurs’ Circle Managing Partner and Chief Executive Canadian Council of Chief Executives and Deloitte & Touche LLP President and Chief Executive Officer TORONTO, Ontario Maple Leaf Foods Inc. TORONTO, Ontario William A. MacKinnon Chief Executive Officer Gerald T. McCaughey KPMG President and Chief Executive Officer TORONTO, Ontario CIBC TORONTO, Ontario Michael I. M. MacMillan 3 Member, Entrepreneurs’ Circle Raymond L. McFeetors Canadian Council of Chief Executives and President and Chief Executive Officer Executive Chairman The Great-West Life Assurance Company Alliance Atlantis Communications Inc. WINNIPEG, Manitoba TORONTO, Ontario
Canadian Council of Chief Executives 30 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Susan E.C. Mey 1, 2 Gordon M. Nixon President Vice-Chairman Kodak Canada Inc. Canadian Council of Chief Executives and TORONTO, Ontario President and Chief Executive Officer Royal Bank of Canada Robert A. Milton TORONTO, Ontario Chairman, Air Canada and Chairman, President and R. Jeffrey Orr Chief Executive Officer President and Chief Executive Officer ACE Aviation Holdings Inc. Power Financial Corporation MONTREAL, Quebec MONTREAL, Quebec
William F. Morris William H. Osborne Managing Director President and Chief Executive Officer Accenture Inc. Ford Motor Company of Canada, Limited OTTAWA, Ontario OAKVILLE, Ontario
Peter Munk 3 3 J.-Robert Ouimet Member, Entrepreneurs’ Circle Member, Entrepreneurs’ Circle Canadian Council of Chief Executives and Canadian Council of Chief Executives and Chairman Chairman of the Board Barrick Gold Corporation and Chief Executive Officer TORONTO, Ontario Holding O.C.B. Inc. and Ouimet-Tomasso Inc. Masaaki Murakami MONTREAL, Quebec President and Chief Executive Officer Mitsui & Co. (Canada) Ltd. Louis P. Pagnutti TORONTO, Ontario Chairman and Chief Executive Officer Ernst & Young LLP Douglas W. Muzyka TORONTO, Ontario President and Chief Executive Officer E.I. du Pont Canada Company 3 Pierre Karl Péladeau MISSISSAUGA, Ontario Member, Entrepreneurs’ Circle Canadian Council of Chief Executives and Craig D. Neeser President and Chief Executive Officer President Quebecor Inc. Weyerhaeuser Company Limited MONTREAL, Quebec VANCOUVER, British Columbia Len J. Penner Arnold M. Nemirow President Chairman, President and Cargill Limited Chief Executive Officer WINNIPEG, Manitoba Bowater Incorporated GREENVILLE, South Carolina Don A. Pether President and Chief Executive Officer J. Edward Newall Dofasco Inc. Past Council Chairman HAMILTON, Ontario Canadian Council of Chief Executives (formerly Business Council on National Issues) CALGARY, Alberta
Canadian Council of Chief Executives 31 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Réal Raymond Wayne C. Sales President and Chief Executive Officer President and Chief Executive Officer National Bank of Canada Canadian Tire Corporation, Limited MONTREAL, Quebec TORONTO, Ontario
Gordon Reid 3 Mayo Schmidt Member, Entrepreneurs’ Circle President and Chief Executive Officer Canadian Council of Chief Executives and Saskatchewan Wheat Pool Chairman and Chief Executive Officer REGINA, Saskatchewan Giant Tiger Stores Limited OTTAWA, Ontario 3 Seymour Schulich Member, Entrepreneurs’ Circle Hartley T. Richardson 1, 2, 3 Canadian Council of Chief Executives and Vice-Chairman and Chairman and Chief Executive Officer Member, Entrepreneurs’ Circle Nevada Capital Corporation Limited Canadian Council of Chief Executives and TORONTO, Ontario President and Chief Executive Officer James Richardson & Sons, Limited 2 Jim A. Shepherd WINNIPEG, Manitoba Member, Board of Directors Canadian Council of Chief Executives and H. Sanford Riley President and Chief Executive Officer President and Chief Executive Officer Canfor Corporation Richardson Financial Group Limited VANCOUVER, British Columbia WINNIPEG, Manitoba Stephen G. Snyder John C. Risley 2, 3 President and Chief Executive Officer Member, Board of Directors and TransAlta Corporation Member, Entrepreneurs’ Circle CALGARY, Alberta Canadian Council of Chief Executives and President Phil Sorgen Clearwater Fine Foods Inc. President BEDFORD, Nova Scotia Microsoft Canada Co. MISSISSAUGA, Ontario Robert J. Ritchie 2 Member, Board of Directors 3 Harry R. Steele Canadian Council of Chief Executives and Member, Entrepreneurs’ Circle Chief Executive Officer Canadian Council of Chief Executives and Canadian Pacific Railway Company Chairman CALGARY, Alberta Newfoundland Capital Corporation Limited Edward S. Rogers 3 DARTMOUTH, Nova Scotia Member, Entrepreneurs’ Circle Canadian Council of Chief Executives and 3 Ronald N. Stern President and Chief Executive Officer Member, Entrepreneurs’ Circle Rogers Communications Inc. Canadian Council of Chief Executives and TORONTO, Ontario President and Chief Executive Officer Alberta Newsprint Company Michael J. Sabia VANCOUVER, British Columbia President and Chief Executive Officer Bell Canada Enterprises Inc. MONTREAL, Quebec
Canadian Council of Chief Executives 32 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Donald A. Stewart 3 Guy J. Turcotte Chief Executive Officer Member, Entrepreneurs’ Circle Sun Life Financial Inc. Canadian Council of Chief Executives and TORONTO, Ontario President and Chief Executive Officer Stone Creek Properties Inc. Rajesh Subramaniam CALGARY, Alberta President Federal Express Canada Ltd. 2 Annette Verschuren MISSISSAUGA, Ontario Member, Board of Directors Canadian Council of Chief Executives and David Sutherland President President and Chief Executive Officer The Home Depot Canada IPSCO Inc. TORONTO, Ontario LISLE, Illinois 3 V. Prem Watsa Douglas R. Swartout Member, Entrepreneurs’ Circle Chairman and Chief Executive Officer Canadian Council of Chief Executives and Aon Reed Stenhouse Inc. Chairman and Chief Executive Officer TORONTO, Ontario Fairfax Financial Holdings Limited TORONTO, Ontario Marc P. Tellier President and Chief Executive Officer Richard E. Waugh Yellow Pages Group Co. President and Chief Executive Officer VERDUN, Quebec The Bank of Nova Scotia TORONTO, Ontario Robert Tessier President and Chief Executive Officer Douglas Whitehead Gaz Métro President and Chief Executive Officer MONTREAL, Quebec Finning International Inc. VANCOUVER, British Columbia Jacques Théorêt President Gary Whitelaw Mercer Human Resource President and Chief Executive Officer Consulting Limited Bentall Capital LP TORONTO, Ontario TORONTO, Ontario
Kenji Tomikawa Gregory C. Wilkins President and Chief Executive Officer President and Chief Executive Officer Toyota Canada Inc. Barrick Gold Corporation SCARBOROUGH, Ontario TORONTO, Ontario
Paul Tsaparis Michael M. Wilson President and Chief Executive Officer President and Chief Executive Officer Hewlett-Packard (Canada) Co. Agrium Inc. MISSISSAUGA, Ontario CALGARY, Alberta
Canadian Council of Chief Executives 33 FROM BRONZE TO GOLD A BLUEPRINT FOR CANADIAN LEADERSHIP IN A TRANSFORMING WORLD
Charles M. Winograd Mike S. Zafirovski President and Chief Executive Officer President and Chief Executive Officer RBC Capital Markets Nortel Networks Corporation TORONTO, Ontario BRAMPTON, Ontario
Phyllis Yaffe Chief Executive Officer Alliance Atlantis Communications Inc. TORONTO, Ontario 1 Executive Committee 2 Board of Directors 3 Entrepreneurs’ Circle 4 Associate Member
Canadian Council of Chief Executives 34