Budget 2017 proposed the establishment of six Economic Strategy Tables to lead the creation of Canada’s economic growth strategies. Working with leading Canadian innovators, Innovation, Science and Economic Development Canada has now established the Economic Strategy Tables to identify growth opportunities in advanced manufacturing, agri-food, clean technology, digital industries, health/biosciences and resources of the future.
Canada's economic growth is expected to continue at a moderate pace, potentially impacting Canadians' standard of living. The Economic Strategy Tables will galvanize stakeholders in six high impact sectors by setting ambitious growth targets, identifying sector-specific bottlenecks to growth, recommending specific strategies to achieve the targets, drive longterm and sustainable economic growth, and create high quality jobs for Canadians. The Tables will also help guide the Government of Canada in its efforts to provide relevant and effective programs for Canada's innovators.
Long term sector specific action plans to meet ambitious economic growth targets for 2025 and beyond across six sectors where Canada is globally competitive will include:
- A common vision for both industry and government that sets the course for moving forward to identify sector strengths, overcome obstacles, and improve competitiveness and growth;
- Business-led solutions, government policy recommendations and public-private partnerships based on short-, medium- and long-term actionable areas;
- Greater inclusion of those traditionally underrepresented in the workforce, such as Indigenous Peoples, women, Canadians with disabilities and older workers, in these sectors; and
- A mechanism to champion and monitor sector growth strategies and results.
Each Table is chaired by an industry leader who drives the agenda of the Table and facilitates candid discussion. The Chairs of each Table also meet to take stock of progress and address key horizontal issues affecting all sector tables.
The sectors under the Economic Strategy Table Initiative have strong potential for innovation, growth and the creation of good, middle class jobs for all Canadians, including currently untapped pools of talent. They also face powerful forces of competition that demand action now to build on their strength and secure a place in the global economy.
Taking a sector-wide approach and sharing best practices will speed up and spread out the adoption of innovations, making sectors stronger on the whole. This will help make Canada’s economy be more resilient, better able to weather market cycles, and will help cement our world leadership where we excel.
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