There is a growing recognition, both globally and within Canada, that competition is essential to fostering a strong, resilient and productive economy. Yet, despite this consensus, the Canadian economy is becoming increasingly consolidated and entrepreneurship is in steep decline. We are particularly concerned with serial-acquisition strategies wherein large firms acquire smaller companies in ways that evade regulatory scrutiny.
In light of the recent updates to the Competition Act and increased focus on competition as a critical element of a productive economic landscape, we are delighted to have an opportunity to provide input as to how the Competition Bureau might leverage its new powers to limit anti-competitive mergers.
Our recommendations pertain to:
- The content of the revised guidelines
- The internal operational considerations we believe will be critical to maximizing the impact of merger review as a tool
- Increased accessibility of merger review information
Collectively, the recommendations aim to provide a framework for identifying and analyzing concerning below-threshold mergers, ensuring greater transparency and capturing a more fulsome accounting of costs and benefits in merger analysis.
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Blame the denominator, not the economy
Over the last couple of years, there have been countless articles warning of Canada’s poor economic performance. The mic drop has increasingly been Canada’s poor performance relative to peer countries on “GDP per capita,” with growth rankings used to draw a variety of sweeping, negative conclusions about Canada’s economy. SCP CEO Matthew Mendelsohn and Policy Director Dan Skilleter draw on economist and SCP Fellow Dr. Gillian Petit's new research to explain why GDP per capita is a deeply flawed measurement for evaluating rich countries - and is easily influenced by a variety of factors having little to do with economic performance or economic well-being.
Non-Permanent Residents and their impact on GDP per capita | Summary
New research by economist and SCP Fellow Gillian Petit estimates what Canada’s GDP per capita would have been over the past decade if Canada had kept our temporary resident numbers stable. She also estimates the expected impact on GDP per capita in the coming years due strictly to planned reductions in Canada's intake of non-permanent residents. Among key findings: Canada’s GDP per capita is misleading and should not be used as if it were the sole indicator of economic well-being. Plus, if we had maintained our temporary resident numbers at two percent of the population in recent years, Canada’s GDP per capita would look much more like our peer countries: a little bit ahead of countries like Germany, the United Kingdom and Australia and a little bit lower than countries like Belgium, Sweden and France.
Non-Permanent Residents and their impact on GDP per capita | Report
New research by economist and SCP Fellow Gillian Petit estimates what Canada’s GDP per capita would have been over the past decade if Canada had kept our temporary resident numbers stable. She also estimates the expected impact on GDP per capita in the coming years due strictly to planned reductions in Canada's intake of non-permanent residents. Among key findings: Canada’s GDP per capita is misleading and should not be used as if it were the sole indicator of economic well-being. Plus, if we had maintained our temporary resident numbers at two percent of the population in recent years, Canada’s GDP per capita would look much more like our peer countries: a little bit ahead of countries like Germany, the United Kingdom and Australia and a little bit lower than countries like Belgium, Sweden and France.