Co-ops Emerge as Key Players in Economic Rebuild

Canada is at a 'hinge moment,' according to Prime Minister Mark Carney, as economic insecurity reshapes expectations and people question who owns the economy. The assumptions that shaped economic life for decades no longer feel reliable.

The task before us is not simply to manage temporary shocks but to rebuild an economy people can trust: one that delivers national growth while giving communities more stability, accountability, and a greater stake in the institutions that serve them.

Research shows Canadians are deeply concerned about affordability, housing, and inequality. Many believe the economic system is increasingly not working for them. That should concern every policymaker.

Co-operatives and mutuals offer a practical answer to these challenges. These member-owned enterprises reinvest value in the people and communities they serve. They are not a niche alternative: over a third of Canadians already belong to at least one co-op, credit union, caisse or mutual, and the UK sector represents 65 million memberships, close to the total population.

The economic contribution is significant: Canada's co-operatives generate $119.4 billion annually in revenues, hold $769.1 billion in assets, and directly employ 179,505 people. In the UK, the sector generates a combined annual income of £180 billion and employs around 1.5 million people.

Co-operatives challenge outdated assumptions that shared ownership means weaker performance. Evidence shows they outperform traditional small and medium-sized enterprises in innovation rates and technology adoption.