Immigration will help (and Canadians begrudgingly like this solution because it also shores up the income-tax “hole” caused by low a birthrate/large retired pop

Immigration will help (and Canadians begrudgingly like this solution because it also shores up the income-tax “hole” caused by low a birthrate/large retired population and generous social benefits to pay for) but it can’t fix the problem because it ultimately comes down to capital and risk: Canadian companies must service international markets in order to generate an equivalent return on investment that rivals U.S. companies in order for investors to be able to deploy capital at the same volume. If successful, it ends up looking more like “an outsized proportion of FAANG-sized companies are Canadian”, and less like “Canada has an equivalent company for every FAANG but each has an outsized return” because the latter is much harder to achieve, for various reasons I won’t get into.