how to raise the economic growth rate

The Bank of Canada has reduced it's forecast of the growth rate from 2.0% on an annual basis to 1.5%.An earlier blog here talked about the fact that this forecast would be subject to the assumption of a certain price for a barrel of oil and a certain price for natural gas.It would be subject to a certain volume of exports of oil and natural gas.My forecast of 1.75% growth was dependent on increased exports of oil and gas to largely Asian countries(China and Japan,for example).This depends on the building of new installations for liquefied natural gas for one thing.Canada needs one or two new liquefied natural gas installations to bring the price of natural gas up and the volume of exports.

Another way of increasing the economic growth rate is to reduce our large consumption taxes ,that is, the G.S.T. or the P.S.T rate in Ontario.This increases the disposable income to consumers and increase expenditures on a broad variety of consumer goods .This has a multiplier effect on the gross national income.And so the economic growth rate moves upwards.