Give capitalists the ball, let them run
By Leo Valiquette
The Ottawa-Gatineau economy, according to the Conference Board of Canada’s Mario Lefebvre, is one that cannot be counted down and out.
That was the sentiment he delivered last week at Forecasting Ottawa’s Economic Future, an inaugural event that featured his outlook for the local economy and a panel discussion with frank perspectives from several of Ottawa’s business leaders.
Lefebvre reviewed Ottawa’s performance through the worst of the economic downturn in 2009 and 2010, a period during which it suffered losses in employment and GDP that were often marginal compared to other major urban centres across Canada. In fact, in the darkest days of 2009, disposable income continued to rise, thanks in part to continued job growth in the federal public sector; job growth that, at this point in time, outstrips the program spending cuts since announced by the Harper government. Despite that belt tightening, Lefebvre remains bullish on the local economy’s outlook beyond 2013 thanks largely to the presence of the public service.
