“In 2023, the Government of Canada and the Province of Ontario announced plans to offer a combined $28 billion in subsidies to Volkswagen and Stellantis to build electric vehicle battery plants in Canada. That’s a lot of money. But when you take a look at the global picture, we are thoroughly outgunned.” In this op-ed, first published in The Globe and Mail, Dan Ciuriak and Laurent Carbonneau point out that although industrial policy may have fallen out of favour in the twentieth century, there’s good reason to be engaging in industrial policy right now. Last year, governments around the world “implemented more than 2,500 industrial policy interventions. If we aren’t playing this game, we will get beaten by the countries who are playing, aggressively.”
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