TD Bank Financial Group chairman, Charles Baillie, called on Canadians to take ownership of the future in a speech entitled “Building the Canada We Want” delivered today at the Empire Club in Toronto.

Baillie reiterated a theme that he has raised publicly before— an improved standard of living that would benefit all Canadians. “Canada has many real strengths on which to build for the future,” said Baillie. “And, I believe that we have a responsibility to create a country where all children will have a fighting chance to live healthy and fulfilling lives.”

Baillie said that excessive debt and taxes and the fragmentation of the domestic market threatens the legacy of future Canadian generations. He called for a reduction of the federal and provincial debts, continued tax reductions and improved healthcare.

Baillie also called for a more prudent focus on spending, as opposed to “simply spending,” and challenged the audience to take steps to raise the country’s standard of living so that young people of today will not be faced with the financial burdens created by previous generations.

According to Baillie, knowledge and new ways of deploying knowledge are key, particularly in an environment where everything is becoming more competitive. “We need to find new and better ways to give future generations the best start, and taking early action will make sure that more children have access to the best,” he said.

Baillie suggested that one of the ways to increase Canada’s standard of living is to assist immigrants in their efforts to integrate into Canadian society, calling for “better co-ordination between the three levels of government.”

Baillie also spoke about Canadian cities, and urged the audience to consider Canada’s major centres in the context of being world-class in stature, so that the brightest and best will be drawn here to live and work. He called for continued investment in infrastructure and a funding system that is premised on population and overall contribution to Canada’s economy.

In concluding, Baillie said that there are actions that every one of us can take for Canada’s future. “Let us invest for our grandchildren — in education, in immigration, in our cities. Let us increase our standard of living so that our grandchildren can continue to enjoy the qualities of life that make Canada distinct.”