Increase productivity (per capita output), increase taxes, specifically pursue high income society development paths (including on who you allow to immigrate, such that high income immigrants promptly become high tax contributors).
Canada is more or less already doing this. They'll likely just have to boost taxation further.
You’re not wrong, but increasing productivity is not easy especially in a place that is both highly regulated and highly taxed. Your most productive and talented workers tend to move south due to both the higher pay and lower cost of living.
You’re right about the other two either already happening or inevitable.
Increase productivity (per capita output), increase taxes, specifically pursue high income society development paths (including on who you allow to immigrate, such that high income immigrants promptly become high tax contributors).
Canada is more or less already doing this. They'll likely just have to boost taxation further.