Canada has deliberately, with substantial public support, built a regulatory utopia wherein time is free and cost is irrelevant. Rational people refuse to invest in this environment without substantial government cover.
Sadly, nibbling at the extremities won't cut it. Canadians have to accept that they screwed up and commit to fixing the whole problem. I don't see any sign of this happening.
David, I appreciate the specific examples of areas where Canada used to lead. I would love to know more of your thoughts on what happened - too much regulation? Complacency? Brain drain? Maybe our educational system failed to keep up? All of the above?
I would love to know more about the perverse tax incentives and government policies that send signals against investment.
I think that Canada has spent at least the last 20 years having, or trying to have, this conversation about poor productivity and its inability to get things done.
Canada has deliberately, with substantial public support, built a regulatory utopia wherein time is free and cost is irrelevant. Rational people refuse to invest in this environment without substantial government cover.
Sadly, nibbling at the extremities won't cut it. Canadians have to accept that they screwed up and commit to fixing the whole problem. I don't see any sign of this happening.
David, I appreciate the specific examples of areas where Canada used to lead. I would love to know more of your thoughts on what happened - too much regulation? Complacency? Brain drain? Maybe our educational system failed to keep up? All of the above?
Maybe that’s all too much for one column!
I would say that the biggest problems by far are over regulation and perverse tax incentives. Government policies signal that investment isn't wise.
But you're right: this should get a bit more attention.
I would love to know more about the perverse tax incentives and government policies that send signals against investment.
I think that Canada has spent at least the last 20 years having, or trying to have, this conversation about poor productivity and its inability to get things done.
I have touched on tax incentives from time to time in previous posts. Here's one example:
https://www.theaudit.ca/p/the-problem-of-corporate-tax-rates