Something amazing happened this week.
Within 24 hours, the Trudeau government was officially back on Earth.
It all started with the decision to approve the Bay du Nord oil project in Newfoundland. Subsequently, budget scheduling gave him, for the first time since he came to power, a minimum level of financial responsibility.
No more “building back better”; Suddenly money doesn’t grow on trees anymore. We must care about economic growth, financing the energy transition, and revitalizing the armed forces.
Many mentioned a transition budget. But move on to what? There is a question.
Because if the Trudeau government wants to give itself the means to meet the challenges facing Canada, it will ultimately have to decide.
For all the observers who denounced the decision to approve the Gulf of Nord oil project, the government’s decision can be defended.
I will not go back to the sheer cost of the project and the credibility of Secretary Stephen Gelbolt, others have handled it completely.
In an ideal world, the Trudeau government would have rejected this project. However, the economic survival of Newfoundland is essential. It’s hard to dismiss the $3.5 billion revenue and 1,000 jobs that will result from the project. The sign of a country open to investment is just as important.
The ecological model has given way to the economic pragmatism of a natural resource country like Canada.
With regard to the environment, the question now is whether the economic excuse will triumph at every turn over climate reality.
Justin Trudeau’s new pragmatism aroused suspicion.
The recovery of the Canadian economy may be almost astonishing, but the government has also recognized the clouds looming.
Canada has one of the worst medium- and long-term growth rates in the OECD. Still the same problem: anemia, a dysfunctional innovation system.
Budget growth attack. A combination of energy transformation and innovation could have been devoted to generating the investments the economy needed.
But the government preferred to fall back on the new, highly bureaucratic agencies whose success was not guaranteed.
Here, pragmatism overcame the required boldness.
This is how this responsible budget is also considered an unidentified budget.
Few social programmes, little environment, little military, little growth and innovation.
The danger is that by doing a little of everything, you are not doing anything well.
Thus, while the Trudeau government’s neo-pragmatism succeeded in reassuring everyone, it failed to provide a convincing vision for the future.
For this, you have to choose. The challenges are so great and competition is so fierce on a global scale that Canada won’t be able to surf the internet forever. The day will come when the government will have the courage to lay all its eggs.
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