Page 7 - Ontario’s Long‐Term Report on the Economy
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Chapter 4:  Long-Term Fiscal Prospects   Introduction ........................................................................................... 89  1. Importance of Fiscal Sustainability ......................................................... 89  2. Demand for Public Services ................................................................... 92  Health Care ........................................................................................ 93 Education and Training ........................................................................ 99 Children’s and Social Services ............................................................. 104 Other Government Programs .............................................................. 109 Public Infrastructure .......................................................................... 109  3. Federal–Provincial Fiscal Sustainability ................................................. 111  Chapter 5:  Productivity in Ontario: Challenges and Opportunities  Introduction ......................................................................................... 117  1. Ontario’s Historical Productivity Trends ................................................. 118  2. Ontario’s Productivity Growth Compared to Other Jurisdictions ................. 120  3. Potential Causes of Ontario’s Lagging Productivity Growth ....................... 123  Labour’s Role in Productivity Growth .................................................... 126 Business Investment and Productivity Growth ....................................... 129 Innovation and Other Factors.............................................................. 132  4. Policies to Improve Productivity ........................................................... 138  Streamlining Regulations.................................................................... 139 Trade Expansion ............................................................................... 139 Strengthening Labour Markets ............................................................ 140 Strengthening Innovation ................................................................... 140 Enabling Productive Investment .......................................................... 140 Supporting an Efficient and Stable Financial System ............................... 141 Competitive Intensity ........................................................................ 141 Investing in Public Infrastructure ......................................................... 142  5. The Role of Business in Improving Productivity ...................................... 144  Business Underinvestment ................................................................. 144 The Challenge Facing Business ............................................................ 146  Contents  v 
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