As part of Postmedia’s How Canada Wins series, the Financial Post asked readers for their ideas about how to get Canada’s economy back on track. We thank everyone who submitted a suggestion and are publishing 50 of the most interesting ideas here.

Slash the red tape

Canada’s vast oil, gas, mineral and lumber reserves are goldmines. Slash the red tape: speed up LNG terminals, pipelines and rare earth mining while keeping the green energy transition in sight. No strangleholds on oil and gas due to overregulation. The outcome? More GDP, jobs and a stronger international trade position.

Cut middle-class income taxes

—Dave Suchanek, Oakville, Ont. Middle class income taxes are totally prohibitive to enable savings, investments accumulation and financial security. They also inhibit motivation to establish new competitive businesses. All the potential middle class economic synergy is wasted. Family income taxes should be cut to less than 10 per cent.

Get government out of the way

—Jim Reid, Kamloops, B.C. There are many suggestions in various media that “The federal government should do this, do that, etc.” I disagree. My suggestion: A return to classical liberalism with governments standing out of the way of the private sector and individuals except for the necessities of peace, order and good government, and the rule of law applied equally to all.

Create an environment that rewards risks

—Pierre-Pascal Gendron, Toronto The government needs to support small to mid-size businesses and create an environment to take risks by increasing the capital gains exemption. There must be incentive to create a business and know you will be rewarded in the long term. When our current environment seems it’s better to work in the public sector rather than the private sector, our outlook is not good.

Beware of deficits

—Peter Hickey, London, Ont. Read Richard Rohmer’s novel “Death by Deficit,” which brings to life what could happen when all the money runs out. The best people are in business, not politics. They can fire up our industrial engine if given the opportunity. With some limits, reduce corporate tax to zero. Tax the money they pay out for dividends, bonuses, salaries and end all subsidies.

Make vacations within Canada tax free

—Dan Toppari, St. Catharines, Ont. Keep Canadians in Canada for vacations. Create an up-to-$1,000 tax refund for receipts from another province (it must be any province but your home province) to be claimed on 2025 tax return.

Show Canada is open for business

—Marney Rakidzioski, London, Ont. Demonstrate in real terms that Canada is open for business. Encourage the development of all responsible resource and infrastructure projects. Ensure all regulatory or legal approval or rejection within a maximum period of two years. End the ability to stop viable projects by the use of delay tactics.

Add economics to the curriculum

Focus on what the U.S. needs.

—Renee Schindeler, Toronto Canada ignores its comparative advantage in geography and resources. Focus on what the U.S. needs. Focus investments on resource extraction, processing and transport while dispersing our population to support. We can use policies such as employment taxes and credits to influence employment away from dense urban areas with subsidies on single family-friendly builds.

Leverage our natural resources

—Greg Wilbur, Salmon Arm, B.C. Leverage Canada’s natural resources by reducing crippling restrictions on gas and oil development and processing. Get the government out of the way in this sector. Encourage brain trust growth with grants. Switch to cleaner energy through encouraging innovation, not punishing interference.

Clear the way for pipelines

—John Bagnall, London, Ont. Expeditiously construct strategic oil and gas export pipelines and use domain powers under the Constitution to facilitate unfettered right-of-way for construction. Engage Canadian steel mills to produce and market orphaned steel and build the pipe ourselves. Repeal all federal legislation impairing the full scope of what is necessary to get export pipelines commissioned.

Bring our talented expats home

—Philip Lemke, Cochrane, Alta. Implement targeted tax incentives for Canadian expatriates returning to build domestic enterprises, paired with AI-approved seed funding and time-limited tax relief for those startups in critical sectors. Balance fairness by extending parallel support measures to domestic entrepreneurs, ensuring inclusive economic growth, minimizing socioeconomic disparities, and fostering sustainable innovation and competitiveness.

Remove the shackles on free enterprise

—Eugene Ting, Toronto When we enter international hockey tournaments, our most skilled players and management personnel are motivated by a single objective: to perform at the highest level. They receive complete freedom to pursue their goals within a well-defined framework. Give our economy the same freedom: Withdraw the shackles placed on free enterprise and watch Canada win!

Refine oil in Canada

—Harry Elliott, Edmonton We export at Western Canada Select vs. West Texas Intermediate. The exchange differential alone is staggering. Build a West-East pipeline and refine oil in Canada for our benefit. Massively increase our LNG export capacity and seek out new markets. Why have we allowed this drain of incredible wealth?

Rebuild our institutional knowledge

—Michael Milne, Nepean, Ont. Our companies and bureaucracy are full of young people with student debt who leapfrog from opportunity to opportunity, with little investment in their current job. A program encouraging companies to return to internal company-funded employee training, in exchange for committing to that company for a period, would help rebuild the institutional knowledge bank that has retired or is retiring.

Empower shoppers by identifying U.S. products

—Carol Zuckerman, Kelowna, B.C. To assist Canadian consumers in selecting Canadian products or anything other than those items determined to be U.S.-made or of U.S. origin, apply a U.S. shelf sticker or flag to U.S. deemed items. A shelf sticker should make it easier for shoppers to choose Canadian or other amiable trading partners’ products.

Simplify the Income Tax Act

—Rob Ellaway, West Vancouver, B.C. Simplify the Income Tax Act and ensure when a budget is released that the legislation is passed within six months. Otherwise, it should not be a budget item or so complex that the Department of Finance has not done their due diligence before introducing changes.

Make housing affordable, not an investment

—Alan Wainer, Thornhill, Ont. Gradually change housing from a retirement investment to something affordable. Build housing at a rate that stabilizes current price and let rising income do the rest.

Shop local and buy Canadian

—Douglas Lee, North Vancouver, B.C. We need to support our fellow Canadians. Shop local and buy from Canadian companies instead of ordering things online from places like Amazon. That gives Canadians a steady income.

Embrace merit-based hiring again

—Margaret Lowrey, Calgary, Alta. We must evolve back to a merit-based approach to hiring and promotion and move away from a DEI framework which leads to a situation where decisions to hire or promote are not made based on optimizing outcomes but rather on race or colour. Canada cannot compete if we do not put our best people in the right roles.

Invest in education

—Mike Diamond, Toronto One of Canada’s greatest natural resources we forget to mention is the contribution of a healthy, well-educated, population. We must continue to invest in our educational institutions at all levels. Not only are these the backbone of our democracy, but they are also the key to developing and attracting investments.

Lower taxes to attract capital

—Karina Rosenberg, Rawdon, Que. The way to win is to attract capital and investment dollars to Canada. Lower corporate and individual income taxes to levels that make Canada the most attractive on that basis, and that capital will find a project to invest in. If our tax structure is not competitive, why would a corporate or individual choose to invest in such a regime?

Launch a global charm offensive to open new markets

—Paul Sarachman, Toronto Canada needs a charm offensive like nothing we’ve ever mounted — prime ministers, premiers, diplomats, dealmakers activating markets beyond the U.S. International investment must become a national mission. Ireland did it — and became one of the world’s most successful economies. Compete at scale or be left behind. Let’s go!

Limit American ownership

—Stephen Lund, Toronto Enact a law limiting American companies and ownership and exports to only 30 per cent, as part of a “Canada First” program.

Boost investment in new real estate builds

—Bill McDonald, Vancouver, B.C. Encourage capital investment in real estate by not taxing capital gains on a sold building if gains are reinvested in new construction.

Simplify the tax code

—Randall Shier, Kelowna, B.C. Reduce taxes and simplify the tax rules. Canadians pay way too much tax and the tax system is way too complicated. Most taxpayers should not have to hire a specialist to complete their tax filings. The bureaucracy necessary to administer the tax system (CRA) is out of control and dysfunctional and is another drag on productivity and prosperity.

Cut capital gains on Canadian investments

—Sue McIntyre, Toronto Remove capital gains tax for investments made on select Canadian companies, equities, bonds and projects and allow 100 per cent deductions against income for select Canadian charities.

Cut regulations and the public sector

—Peter Muselius, Goderich, Ont. The damage to Canadian identity over the last decade can’t be exaggerated and no economic recovery will be sustainable unless we establish national pride in being Canadian. Pride in our inefficient and unproductive ways is misguided and embarrassing. The road to recovery starts with severe public sector and regulation reductions.

Eliminate the GST on Canadian-made products

—Karl Ullrich, Victoria, B.C. Take the GST off goods that are made in Canada. Not assembled in, but actually made in Canada, from the producer to the wholesalers to the retailer to the consumer, all throughout the chain. Encourage people to buy Canadian-made goods.

Track our ‘Buy Canadian’ spending

—Sherry Wallace, Edmonton  Buy Canadian wherever possible. How to monitor this: A simple website for Canadians to anonymously submit the dollar amount of purchases they consciously switch to buy Canadian vs. American. Canadians can see how they collectively support our country in real dollars and cents. It would be inspirational to see exactly how much difference an individual makes.

Use flow-through shares to supercharge the tech sector

—Barbara Mathews, Vancouver, B.C. A made-in-Canada solution to supercharge Canada’s tech sector. For 71 years, flow-through shares (FTS) have helped fund Canada’s mining sector plus oil and gas and renewable energy. In 2024, FTS activity was the best in five years. Extend this investment incentive to our high value, high-tech companies.

Free trade between provinces — no ifs, ands or buts

—David Perry, Ottawa It’s time to enact once and for all free trade among provinces. This government or the next should give the provinces a few months’ notice to prepare an historic convention whose mission will be free trade in Canada, no ifs, ands or buts. This is what our economy needs, this is what the people want. It’s about time!

Rebuild our military

—John Dawe, Toronto Canada should begin a major multi-generational defence asset manufacturing investment program. We should be designing and building our own jets, helicopters and ships to rebuild our military capabilities. This will give Canadians a much-needed boost in self-assuredness and will heighten national pride and preparedness.

Hold ‘innovation auctions’ to surface and fund great ideas

Build up small- and medium-sized businesses

—Michel S., Ottawa A country that can withstand economic hardship must be based on a foundation of small and medium enterprises. The government must help the proven innovators to deliver results and create an ecosystem for the high-tech industry. Strong small and medium enterprises must be the backbone and the bricks of a solid house.

Leverage our global connections

—Diego Lai, Markham, Ont. To quote one of our, albeit slightly tarnished, national treasures — Wayne Gretzky — the key to strengthening Canada’s economy is to “skate to where the puck is going.” Lean into our diversity. Leverage those global connections. Be greater than the sum of our tribes.

Incentivize investment in high-growth sectors

—Randy Gillespie, Conception Bay South, Nfld. Introduce huge tax incentives and investment credits for startups in high-growth sectors like healthcare, technology, biotech, agri-tech, pharma, advanced manufacturing, and financial services. Interprovincial trade barriers removed immediately, under emergency national security legislation if needed. Introduce tax write-offs for capital equipment investment with bonus for Canadian capital goods.

Build and export our LNG expertise

—Steve Mitchell, Toronto Facilitate a global shift away from coal-fired power generation. Canada could offer a viable alternative by converting existing coal-burning power plants worldwide to use our liquefied natural gas (LNG) for electricity production. We could incentivize this transition by supplying LNG and providing technical assistance to help other nations build the necessary LNG infrastructure.

Teach the merits of free markets

—Danny Keyes, Comox, B.C. Mandate economics for every high school student. It must be a podcast as many teachers will oppose, or do not understand either. This will include how free markets lead to prosperity and accountability.

End the bureaucratic nightmare facing businesses

—Herb Pinder, Saskatoon, Sask. Roll back tons of red tape. Make it easy to do business in Canada instead of the bureaucratic nightmare it has become. This is particularly important regarding energy. That said, I’m not suggesting a free for all, there needs to be regulations, but they need to be simple, easy to understand and easy to administer.

Cut taxes for low- and middle-income families

—Peter Symons, Toronto Cut income tax significantly for middle- and lower-income Canadians. Workers spend what they earn. We need people to spend money in the economy and the velocity of spending increases when people buy goods and services and, in turn, that money is spent again. The same money in our government coffers does not turn as often or as efficiently.

Help SMEs access capital

—Jay Gotteiner, Montreal I work selling small businesses and it is almost impossible to get funding for these deals. The banks want nothing to do with them unless the loan-to-value ratio is so high they have little risk. Small and medium sized businesses employ many Canadians, and wealth is built here for normal men and women. We need access to capital.

Stay home, snowbirds

—Brad Crompton, Toronto If snowbirds would just defer for one winter or cut their usual time in the U.S. by 50 per cent, it would send a huge message to Florida, Arizona and the rest of the U.S. — and keep billions of dollars in Canada.

Reset the Canadian government

—Garth McIver, Vancouver, B.C. The only way to reset the Canadian economy is to reset the Canadian government. A Democratic government who trusts its citizens to act responsibly and in capitalist principles; private property, free markets, competition, profit motive, voluntary exchange, innovation and efficiency and capital growth

Fill the global demand for critical minerals

—David Milovac, Oakville, Ont. For geopolitical reasons, there is a demand for critical minerals not processed in China. Canada can fill this demand. In doing so, Canada can increase its value added by processing a larger share of Canadian-extracted minerals domestically, thereby capturing a greater share of global value chains.

Encourage private enterprise

—Ben Doran, Ottawa We do not encourage enough private enterprise. We raise people to work in jobs that only a few parties own. People should be learning how to run businesses and create their own. Design and innovation are paramount to creating new wealth. Individual accomplishment with healthy competition drives us forward, not stagnancy.

Use the Bank of Canada to combat poverty

—Barbara Dodge, Toronto Former NDP leader Tommy Douglas reminded Canadians that we used the Bank of Canada to fund WWII spending, and we can use it also to combat poverty, unemployment and social injustice. A Canada-first national plan for green infrastructure, social services and full employment can prevail over aggressive U.S. tariffs.

  • The issues small businesses are grappling with today
  • Seven big ideas to help Canada win
  • How Canada Wins: A blueprint for a prosperous nation

Invest in Hollywood North

—Larry Kazdan, Vancouver, B.C. Canada must seize this moment to outcompete Hollywood and become the premier destination for film and TV production. We need stronger federal and provincial funding, tax incentives, and a global distribution strategy to elevate our creative sector. By investing now, we secure our place as the hallmark of entertainment and information.

Push pensions to invest at home

—Kaberi Dutta Chatterjee, Mississauga, Ont. Encourage our humongous pension plans (CPP, Ontario Teachers, OMERS) to invest in Canadian mining, infrastructure, etc. projects versus overseas (including the U.S.).

Make it easier to Buy Canadian

—L.M. Chow, Ottawa We need to continue to better inform folks across the country of Canadian options to U.S. products, and if not Canadian, at least a non-U.S. alternative. We especially need stats showing how our fellow Canadians are moving in a non-U.S. direction. We will all be encouraged to keep up the fight if we are assured that we are not alone.

—Michael Lowe, Ottawa • Email: jswitzer@postmedia.com Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.

This is the latest in the Financial Post series How Canada Wins. Read all the instalments here.