KPMG: Canadians want 'Canada-first' economic recovery strategy

05 February 2021 2 min. read
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Canadians want a “Canada-first” strategy to jump start the economy, according to a January KPMG survey of 4,000 people.

The consulting firm’s survey found that 92% of Canadians want the government to create incentives to “buy Canadian.” Eighty-nine percent said they want corporations in the country to allocate a share of all their contracts to small- and medium-sized Canadian businesses.

Respondents were also willing to do their part, with 89% planning to focus their personal spending on domestic opportunities to get the Canadian economy back on track.

The country’s economy suffered its largest decline ever in 2020, with GDP falling 5.1%.

"To get the economy moving again, Canadians want the country to adopt a 'Canada-first' mindset,” said Silvia Montefiore, COO of KPMG Canada. “This includes our government establishing 'buy Canadian' incentives and for big companies to increase the amount of contracting they do with local suppliers. Individual Canadians told us they are committed to doing the same by focusing their own spending on domestic opportunities."

KPMG: Canadians want Canadians also think the government should continue strengthening the nation’s healthcare system and supporting SMEs. Eighty-three percent said they want the government to continue making investments to strengthen the healthcare system and support people affected by the lockdown.

Ninety percent said the pandemic has left them with a stronger appreciation for small businesses in their community, and 82% said the government should create incentives to get people and businesses with saved up cash to start spending again.

"The pandemic has made Canadians far more aware of the importance of our healthcare system and the people who make the system work," Montefiore added. "But it has also given us a much greater appreciation of the many small- and medium-sized businesses in our communities that make our economy click."

Nearly 90% of Canadians noted the rollout of vaccines was the only way to protect public health and jump start the economy.

A December survey from KPMG found that eight in 10 Canadian would get a Covid-19 vaccine if it was offered to them.