Low levels of capital investment and expenditures on research and development contribute to Canada’s slow productivity growth.
Average per-person income in Canada is now roughly US$51,000 versus US$54,000 in Australia.
Unions restrict worker choice, prevent job formation, discourage work effort and cut economic productivity.
Labour productivity grew at a relatively slow 0.88 per cent average annual rate from 2016 to 2019.
In businesses that only produce services, labour productivity increased by 38 per cent compared to 12 per cent in the government sector.
Fewer resources dedicated to complying with excessive regulation would free up substantial amounts of time and money.