Bank Economists Urge Tax Overhaul to Jumpstart Canada Economy

Economists at Canada’s biggest banks are calling on Prime Minister Mark Carney to reform taxes, arguing his latest budget investments won’t meaningfully move the needle on competitiveness.

“I don’t think it’s enough,” Beata Caranci, chief economist at Toronto-Dominion Bank, told a sold‑out Economic Club of Canada event in Toronto on Wednesday. “What we’ve seen is a good first step, but really what they’ve done so far is unwind previous bad policy.”

Carney’s November budget pledged to attract C$1 trillion ($723 billion) in public and private investment over five years through tax incentives and targeted spending on housing, infrastructure ...