From the Desk of Alex Binkley, Contributing Editor
By Kerri-Anne Finn
CCPA News Release
OTTAWA, Canada — Canada's economy is still mired in recession and a long way from recovery, despite months of ‘green shoot' speculation, says a report released today by the Canadian Centre for Policy Alternatives (CCPA).
Canada's Long Road to Economic Recovery, by Jim Stanford and David Macdonald, examines Canada's economic indicators and concludes more public investment will be key to Canada's recovery.
"Canada's private sector has not yet bounced back from last year's economic shock and there are no signs that it will rebound quickly," says Stanford, CCPA research associate and economist with the Canadian Auto Workers. "Public investment has been essential to stabilizing Canada's economy—it is the only engine of economic growth right now."
The report looks at Ottawa's stimulus initiatives to date and finds:
"The federal government was quick to support Canada's financial sector but its job creating infrastructure stimulus program hasn't been up to the task," says David Macdonald, coordinator of the CCPA's Alternative Federal Budget.
Canada's Long Road to Economic Recovery is available on the CCPA website: www.policyalternatives.ca.
For more information please contact Kerri-Anne Finn, CCPA Senior Communications Officer, at (613) 563-1341 x 306 or 613-266-9491.
October 29, 2009 — Return to cover.