![]() ![]() We began our work with a sense of urgency and an eagerness to consult Canadians from across the country and from all economic sectors to gain a clear understanding of the situation. ![]() I would also like to extend my warmest compliments to our nine members for their tremendous commitment and thank the Council's Secretariat in Innovation, Science and Economic Development Canada, and the public officials that we consulted for their dedicated cooperation and support. I would like to thank the Minister of Innovation, Science and Industry and the Government of Canada for their confidence. It was against this unprecedented backdrop that the Industry Strategy Council began its work in June 2020 with a mandate to identify the scope and depth of COVID-19's impact on industry, inform government's understanding of specific sectoral pressures, and serve as a means to receive the business communities' input on the impact of the pandemic. The Government of Canada acted, releasing record amounts of capital in a short period to limit the impacts on individuals, families and businesses. Governments and central banks around the world took sweeping action to contain the devastating effects of the crisis. In the early months of the pandemic, Canada's GDP fell by an unprecedented 18%. The downturn in the global economy has led to a sharp drop in GDP. To protect human life, governments have had to take exceptional measures, such as imposing lockdowns and closing borders, significantly impacting the economy. Our personal and professional lives have been shaken, as have our routines and our presumptions. ![]() The year 2020 will be a turning point in history.
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