A new study by the C.D. Howe Institute recommends a sweeping overhaul of Canada’s tax system, arguing that the country must reset how it taxes individuals and businesses to revive investment, entrepreneurship and productivity. The report warns that Canada’s economy has stagnated for a decade—with virtually no growth in per-capita income and performance trailing other advanced economies—while Canada-U.S. free trade faces increasing uncertainty. It proposes cutting personal income tax rates for higher earners, simplifying the tax system and lowering corporate taxes, while shifting some revenue toward consumption or payroll taxes to encourage investment and long-term economic growth. “We will not reverse Canada’s economic decline with piecemeal tax changes. If we want higher productivity and wages and renewed entrepreneurial dynamism, we need a fundamental rethink of how we tax people and businesses. Canada does not need tax tweaks. It needs a tax reset,” write Jack Mintz, Alexandre Laurin and Nick Dahir.