In the debate to come, Canadians will have to determine whether the MacKay Report maps the road ahead or risks the repetition of past policy mistakes.
Document Highlights
The Report of the Task Force on the Future of the Canadian Financial Services Sector presents a curious blend of 1990s global competitiveness concerns and 1970s government social activism.
The Report tries to balance three main objectives for the financial sector:
- meeting global competition,
- ensuring safety and stability in the system, and
- meeting its social obligations (as defined by the government).
As a result, the Report’s recommendations contain something for everyone.
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