#productivity #Canada #innovation #gdp Canada's productivity is still in freefall as the Bank of Canada reduces interests from 5 to 4.75% today. The first decline in four years. The chief economist at the Canadian Chamber of Commerce believes where are still at the same level of labour productivity as in 2018. Our news page has been covering this topic since its inception. The article quotes the RBC as saying that some productivity increases are clear and obtainable with a few key changes in policies.
Cutting red tape
Cutting inter-provincial borders
Making the best of immigrants' skills
Adopting new technologies
A better tax environment
Out of all these changes, only one is really up to business owners and managers: adopting new technologies. In our experience we see some resistance by businesses to adopt new processes and technologies. Considering the critical nature of the situation, perhaps the federal government could adopt further tax policies that could encourage technology transfer and implementation.
Read the full Financial Post article at: https://financialpost.com/news/economy/productivity-decline-bank-of-canada-cuts-interest-rates
