Posted 3/26/2024, 1:08:23 PM
Sluggish Business Investment and Innovation Drag Down Canada's Productivity Growth
- Productivity growth in Canada is declining and is an "emergency" that could force higher interest rates
- Lack of business investment in machinery, equipment, and intellectual property is dragging down productivity
- Lack of competition in Canadian industries not driving productivity via innovation and efficiency
- Policy uncertainty hinders businesses' ability to confidently invest in operations
- Canada failing to properly utilize skills of new immigrants, sticking them in low-wage, low-productivity jobs
