Thursday, January 03, 2013
While a large portion of the decline is due to the business sector spending less on R&D, the current Conservative government has responded by cutting its own share of spending while also reducing incentives for businesses to increase theirs.
Innovation is not just necessary for businesses to compete, it's necessary for Canada to compete internationally. But with Canada spending 20% less than the OECD average on Research & Development the future looks bleak.
Hopefully Canada can do something about this decline before it gets even worse, but if any solution requires R&D, I call dibs on the country's maple syrup.