5 Bold Moves for a Resilient Recovery

July 22, 2020

This post is part of Smart Prosperity Institute’s Smart Stimulus Project and supports the work of the Task Force for a Resilient Recovery. Want to receive our latest analysis and insights? Sign up for our monthly updates here.

Today, the Task Force for a Resilient Recovery - an independent group of 15 finance, policy and sustainability leaders - launched its preliminary report on 5 Bold Moves for a Resilient Recovery.

The preliminary report aligns with the Task Force’s ongoing work to make Canada’s economic recovery from COVID resilient: getting Canadians back to work at the same time as supporting the jobs, infrastructure and growth that will keep Canada competitive in the clean economy of the 21st century.

Smart Prosperity Institute is excited to be a Research Partner for the Task Force and also to have SPI’s Executive Chair, Stewart Elgie, participating in this authoritative group. Meet the full Task Force, as well as its Expert Advisors here.

The Situation on the Ground

The COVID-19 pandemic is a global health and economic crisis. Governments have already spent billions in the immediate response, including in Canada where a deficit of over $300B is forecast for this year. Billions more will be invested before this crisis is over, including in restarting economies. Just how much investment will be needed is becoming evident in the initial recovery plans of G7 countries.

The goal of the Task Force is to ensure that those billions in new Canadian expenditure are invested wisely in a strong and resilient recovery –one that delivers good jobs, is positive for the environment, and addresses inequality. Drawing on ideas from across our country and around the world, the Task Force has identified five “bold moves” to ensure Canada’s resilient recovery.

5 Bold Moves for a Resilient Recovery:

1) Invest in climate resilient and energy efficient buildings

2) Jumpstart Canada’s production and adoption of zero-emission vehicles

3) Go big on growing Canada’s clean energy sectors

4) Invest in the nature that protects and sustains us

5) Grow clean competitiveness and jobs across the Canadian economy

Click to read the full preliminary report, including a detailed cost breakdown, and 22 supporting recommendations, from the Task Force on 5 Bold Moves for a Resilient Recovery.

The report is also available in French here.