Originally designed in 1965 to promote tourism to Canada, the wordmark was later adopted as the official logo of the Government of Canada in 1980, and appears on all official signage and advertising.
The wordmark uses a customized version of Baskerville Old Face [or a related Baskerville, see comments] that thickens the thinner strokes, with a Canadian flag hanging from the ascender of the lowercase d.
Designed by Jim Donoahue while he was working at MacLaren Advertising.
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From Donoahue’s biography on Canada Modern:
I don’t know under which name the specific Baskerville version (that served as the basis) went in the 1960s. In regard to digital Baskervilles, Matthew Carter’s Big Moore probably comes closest. The image below shows Big Moore (top), Fry’s Baskerville (middle), and URW’s Baskerville Old Face (bottom).
The version shown on Donoahue’s portfolio website unfortunately appears to be autotraced, with botched curves.