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Canada's Economy In 15 Years

Canada in 15 years
When I see the Canadian economy over the next 15 years, I anticipate the following macro-economic indicators: Canada will continue its economic growth through the next 15 years but the rate of growth may be sluggish and hover around the 1% mark; While Canada will make efforts to gradually reduce its reliance on natural resources, I do not expect this to change drastically over the period in question; By 2023, Canada will have repaid most of its international debt through its yearly budget surpluses, thus inducing major changes in tax policy. The federal government may reduce taxes and also utilize a much higher percentage of the surplus towards promoting innovation in Industry; Oil production in Canada will double by 2020 and the Canadian Dollar will hold on to its newly acquired perch vis-à-vis the USD.
Some other macro indicators that will impact the Canadian economy are: The continued strong growth of the services sector, accounting for almost three quarters of Canada's GDP during this period. However, at least for the first 10 years, Canada's job market will be unable to supply the required labour into this sector. Therefore, major changes to immigration policies are expected with due recognition given for international educational credentials. Immigration will also reach its peak during this period with over 300,000 people immigrating to Canada each year; and finally, the standard of living of Canadians will improve because the people will have a much higher disposable income (as taxes will be lowered).
This is indeed a dream situation for any developed economy in the world today because of the rising threat from emerging markets like China and India. However, even as I venture to make a positive forecast, I would like to put in a rider and say that all this is possible only, and only if Canada's economic policies are aimed at achieving two important results – (1) Stepped up economic relations with China and India and (2) Reduced...