The federal finance minister is usually a guy who shows up on our screens two or three times a year: Once to deliver a fall economic statement; again in mid-winter (wearing the requisite new shoes) to deliver his budget; yet again after a high-profile, post-budget-speech to the Empire Club of Toronto or the Economic Club of New York.

The exception, in recent times, was Paul Martin - Canada's own version of St. George, the man who slew the monstrous federal deficit and began the job of taming its insidious offspring, our enormous national debt.

His successor, Ralph Goodale, followed the example of earlier ministers during his first year at the helm of finance. This fall, Goodale is changing gears and Canadians will be seeing a lot more of him.

With Labour Day behind him, the minister of finance had scheduled a series of major addresses in Vancouver, Winnipeg and Montreal. He planned to speak to service clubs, chambers of commerce and other business organizations.

Photo courtesy of Couvrette/Ottawa www.Couvrette-photography.ca
Federal Finance Minister Ralph Goodale will be busy explaining how Canada can maintain its prosperity and standard of living.

His goal was to lay out an economic blueprint which, he believes, will allow the country to adjust to emerging competitive challenges and the unprecedented demographic upheaval caused by a massive wave of Baby Boomer retirements, while at the same time maintaining our prosperity and standard of living.

Prior to embarking on this campaign, Goodale granted an exclusive interview to Business Edge and shared his vision of the future and how we adjust to it.

Like most Liberals, the minister of finance takes enormous pride in the government's fiscal record since 1993, which has seen Canada rise from the bottom to the top of the G7 in terms of eliminating the budgetary deficit and reducing national debt.

"During this time, there have been a series of big changes in the world, which means we can't rest on our laurels," he says. "The dollar has appreciated by fully one-third, making it tougher for domestic manufacturers to penetrate some export markets."

New economic powers have emerged. "Ten years ago," Goodale notes, "countries like India and China were major recipients of foreign aid. Today they are massive competitors, accounting for one-third of humanity. They are beginning to set the terms of supply and demand in the world and that will continue."

At the same time, the fabric of Canadian society will be tested by the aging of the Baby Boomers.

"Historically, each new generation has been larger than the generation that went before it," Goodale says. "We've never seen the reversal we're going to see when Baby Boomers retire and are replaced by a smaller generation of workers, citizens and taxpayers."

What to do about all this? Well, the minister of finance can't solve these problems by himself. But he can prepare Canadians for these changes. He can put forward solutions. And that's what Goodale will be busy doing this fall. Essentially, he says, the economy must operate more efficiently and workers must become more productive.

He sees four ways for government to contribute to economic efficiency: First, by adhering religiously to balanced budgets and debt reduction; second, by ensuring that Canada's tax system is competitive internationally; third, by bringing down internal trade barriers; and finally, by maintaining borders that are closed to criminals and terrorists, but open to trade, investment and immigration.

Asking Canadians to become more productive workers is a bigger challenge, one that requires big contributions from employers and individuals. "We want to see economic growth continue despite a relatively smaller workforce," he says. "In order to do that, we need better jobs and higher-paying jobs that generate higher incomes and a better quality of life."

The private sector must invest more in research and development and Canadian companies must become better at turning technological innovations into commercial products. The country also needs a better educated workforce capable of performing high-value work.

Currently, the minister says, only one of every two young people is pursuing studies at the post-secondary level and that's not going to be good enough to keep Canada prosperous in the 21st century.

Goodale may not have all the answers, but it is reassuring to know that someone in Paul Martin's government is thinking about the future and the challenges that lay ahead.

The minister of finance, thankfully, is providing some ballast in a Liberal ship driven by political expediency and spending demands from every quarter.

And wouldn't it be wonderful if minister Goodale could bring cabinet and caucus onside and make productivity and prosperity the central plank in the party's next election platform?

(D'Arcy Jenish can be reached at jenish@businessedge.ca)