The headlines in recent weeks whether from the Bank of Canada or OECD were over the slow growth of the Canadian and global economy, and there’s some finger pointing over the weekend.
A report from Deloitte Canada finds corporate Canada falls short when looking to take on more risk and the word they use is “lacks courage.”
On its own, it sounds like a challenging task of quantify a trait that may be a more qualitative in nature, but the theme that Canadian companies are underinvesting and that certainly hasn’t been absent from headlines given the current economic environment and results of business surveys.
When compared to peers in other industrialized nations, Deloitte cites Canadian firms investing less in machinery and equipment, and investments in training has dropped 40 per cent over the last 20 years.
They’re take, very simply, is that it comes at the cost of future growth.