Carney promised to bring down the cost of living. Can he really do it?

opinion

Claude Lavoie argues that Prime Minister Mark Carney has yet to offer bold ideas to address Canada’s productivity crisis.

Claude Lavoie is a contributing columnist for The Globe and Mail. He was the director-general of economic studies and policy analysis at the Department of Finance from 2008 to 2023.

Like his promise to get a good trade deal with the U.S., Prime Minister Mark Carney ’s promise to bring down the cost of living for Canadians may be more difficult to achieve than he suggested during the election campaign.

Any action to bring prices down would create more harm than good. Improving productivity or raising workers’ bargaining power are the only tangible ways to make life more affordable. It’s concerning that Mr. Carney has yet to offer solutions to these issues