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The endgame of Tuesday’s federal budget might be about stimulating economic growth, but even with a projected deficit of almost $30 billion, it won’t get the Liberal government where it wants to go.

Call it the pixie dust effect: too much sprinkling, not enough substance.

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That’s especially true given the dramatic reshuffling of the global economy taking place. Whether it’s falling demand for commodities or trade, Canada is in a position where, more than ever, it needs to increase productivity and economic growth.

As Jack Mintz said Tuesday, these issues are longer term in nature.

“The question is how do we get to three per cent economic growth?” asked Mintz, the president’s fellow at the University of Calgary’s School of Public Policy and scholar-in-residence at Columbia Law University in New York City.

Where Mintz and other economists found some solace Tuesday regarding the growth puzzle was in the government’s commitment to infrastructure spending, and the fact it won’t do everything at once. Instead, it will take time to understand where it can get the best returns on its investments.