2025 Offers a Chance to Restore Economic Sovereignty and Growth in Canada

Our national sovereignty cannot be taken for granted. If we are to remain the true north, strong and free, we will need to be able to defend our independence.

But in the 21st century, arguably the most important factor that defines a country’s ability to defend its interests and provide for its citizens is economic security. 

Defending Canada in an increasingly volatile world will also involve ships and jets, but if we cannot be competitive and economically resilient, we will not have the resources to defend our national security.

Canada’s Relationship With the US

Canada’s economic future depends on our ability to compete globally. US President Donald Trump’s trade hostilities are only the tip of the iceberg. We can no longer rely on easy and stable American friendship, and we cannot rely on their support to protect us from being pushed around by other geopolitical powers.

Canada cannot be complacent; the United States has already been a formidable competitor, and the Americans are only going to intensify their focus on tax reforms, deregulation, and support for their domestic industries. 

Canada cannot afford to lag behind. But competing doesn’t mean copying—it means playing to our strengths. Our innovators are among the best in the world, and our country has the resources, talent, and ambition to succeed. What’s needed is leadership that believes in Canadian businesses and backs them with policies that enable growth.

How to Encourage Innovation in Canada

For too long, Canadian governments have failed to seize opportunities to build lasting prosperity. Policies that discourage investment, innovation, and entrepreneurship have made it harder for Canadian companies to compete. The capital gains tax hike punished ambition, while our slow-moving immigration system has left companies struggling to attract the talent they need.

Meanwhile, the federal government has continued to prioritize foreign multinationals over Canadian businesses, directing billions in procurement dollars to firms with limited stakes in our economy.

We need a comprehensive plan for Canadian prosperity and economic security. This is the thinking that led us to create the Canadian SHIELD Institute, a new think-tank that will be studying and proposing strategies for Securing Homegrown Innovation, Economic Leadership and Defence. 

We already know the rough outlines of what we need to be working on:

• Protect Canadian ideas by taking a sovereign, security-informed approach to Canadian data, intellectual property and other intangible assets
• Protect Canada’s security interests and economic competitiveness by mapping, assessing, and strategically navigating global value chains. 
• Keep Canadians safe by modernizing our defence, including an arsenal of advanced technologies and cybersecurity capabilities
• Reform Canada’s tax system to enhance competitiveness and attract investment
• Keep government focused on prosperity by streamlining and reforming institutions to remove regulatory barriers that no longer make sense in the 21st century
• Make Canada a country that says yes to the future by embracing abundant and clean energy and building housing and infrastructure to make Canada the most desirable place in the world to live and do business

A comprehensive prosperity strategy starts with supporting Canadian companies as the backbone of our economy. It means creating an environment where entrepreneurs can succeed, where investors are rewarded for backing Canadian innovation, and where workers enjoy the benefits of a strong domestic industry.

Canada’s Economic Strategy for the Future

The coming election isn’t just a contest for power—it’s a chance to reset Canada’s economic priorities. Every party should use this period to outline how they plan to build a stronger, more sovereign economy.

A truly prosperous Canada is one where businesses thrive, workers have access to good jobs, and communities see the benefits of economic success. It’s a Canada where entrepreneurs know their government stands with them, not against them.

As Canadians prepare for an election, the business community is ready to do its part. Our entrepreneurs and scale-up leaders are creating good-paying jobs and building the solutions that will shape the future. But we need partners in government who share our commitment to building a prosperous Canada.

Government leaders must focus on one concrete policy project: Reforming procurement. Other countries don’t regularly get caught up in the kinds of purchasing boondoggles that regularly ensnare Canada. We should put in the work and learn how to buy technology systems to modernize government without it turning into a national scandal. We can even learn how to prioritize domestic innovators, so that Canadian public dollars go to work in the Canadian economy.

This prolonged election period is a chance to have a real conversation about the future we want for Canada.

The path forward is clear: focus on policies that empower Canadian businesses, protect our economic interests, and build a foundation for long-term prosperity. Let’s ensure that the future is one of growth, opportunity, and strength.