VANCOUVER, B.C. – The national Task Force for Real Jobs, Real Recovery, which represents over a quarter of a million businesses and over three million workers across Canada released a plan for Canada’s economic recovery during the COVID-19 pandemic.
The plan explains how natural resources and manufacturing sectors could create up to 2.6 million new jobs and a 17 percent increase in real gross domestic product which could amount to around $200 billion increase in potential labour earnings and help move Canada towards a low-emissions future in the process.
The first quarter of 2019 saw a contribution of $236 billion from resource industries to the Canadian GDP, which represented 11.3 percent of the Canadian economy.
The resource sector is also a crucial part of economic reconciliation with Indigenous communities and peoples, with Indigenous-owned businesses 40 times more likely to be involved with mining and oil and gas sectors.
The report or plan includes a series of recommendations that will help Canada’s economic recovery as well as long-term environmental goals. Some of the suggestions are:
- Mobilizing resource prosperity by leveraging Canada’s world-class industries by means of advancing regulatory efficiency, attracting capital investment, enhancing critical infrastructure, ensuring access to resource lands, and maximizing Indigenous economic participation.
- Building meaningful employment by ensuring job creation, building employment resiliency, advancing Indigenous employment, and enhancing the skilled workforce participation.
- Accelerating innovation and environmental competitiveness by aligning climate action and natural resource development, driving challenge-orientated innovation, advancing emissions reduction technologies and plastics innovation, supporting advancements in sustainable forestry and mining, and developing hydrogen and small modular nuclear reactor industries.
The Task Force plans to deliver this report and recommendations to the Federal Government, which includes the Industry Strategy Council, in an initiative launched in response to how the pandemic affected the economy.