canada's innovation imperative 2011
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Canada’s innovation imperativeReport on Canada 2011Report on Canada 2011
Roger L. MartingToronto Reference Library | June 1, 2011
The Institute Mandate
To measure and monitorTo measure and monitor Ontario’s and Canada’s competitiveness, productivity,competitiveness, productivity, and economic progress compared to other provinces, p p ,US states and the US as a whole and to report to the public on a regular basis
1 June 2011
Canada’s Innovation Imperative
Productivity and innovation
AIMS f i tiAIMS for innovation
The innovation imperative:The innovation imperative: Steps to Canada’s prosperity
2 June 2011
Canada Has 9 International Peers
3 June 2011
Canada Is Among The Most Prosperous Of International Peers
4 June 2011
Canada-US Prosperity Gap Remains Significant
5 June 2011
Families Would Benefit From Closing Prosperity Gap
6 June 2011
…And Families Would Be Happier
7 June 2011
GDP Trends Are Very Similar In Canada And US
8 June 2011
Canada Has Outperformed US Participation Rates
9 June 2011
…And Unemployment Rates
10 June 2011
More Canadians Are Working Than In US
11 June 2011
Layoffs Affect Older Workers More Severely
12 June 2011
Institute Measures Four Components Of Prosperity
13 June 2011
Canada’s Labour Effort Matches US
14 June 2011
But Productivity Trails Significantly
15 June 2011
Canada’s Prosperity Gap Is A Productivity Gap
16 June 2011
Our Labour Effort Leads Peers; Productivity Lags
17 June 2011
Innovation And Productivity Are Closely Linked
18 June 2011
Institute Recommends 2020 Prosperity Agenda
19 June 2011
Institute Measures Four Prosperity Components
20 June 2011
Lagging Productivity And Intensity Drive Prosperity Gap
21 June 2011
Lagging Productivity And Intensity Drive Prosperity Gap
22 June 2011
Canada’s Innovation Imperative
Productivity and innovation
AIMS f i tiAIMS for innovation
The innovation imperative:The innovation imperative: Steps to Canada’s prosperity
23 June 2011
AIMS Drives Prosperity; Prosperity Drives AIMS
24 June 2011
Canadian And US Attitudes Are Similar
Ontarians differ little from their US peers in…
Views of business and business leaders
Attitudes toward risk and success
Attitudes toward competition andAttitudes toward competition and competitiveness
Willingness to take action to achieve a higher standard of living
25 June 2011
Our Managers See Risk As Innovation Roadblock
26 June 2011
But Canadian And US Managers Have Similar Views
27 June 2011
Canada’s Public Investment In Education Trails Health Care
28 June 2011
Canada’s Public Investment In Education Trails US
29 June 2011
More Education Means Higher Earnings
30 June 2011
Fewer University Degrees Are Awarded In Canada
31 June 2011
Ontario Pulls Up Canada’s Performance In Degrees Awarded
32 June 2011
Canadian Business Investments Lag US
33 June 2011
ICT Investment Gap Is Larger
34 June 2011
Canada Trails US In Business R&D…
35 June 2011
…Business Is Source Of R&D Gap
36 June 2011
Business R&D Spending Links To Patent Output
37 June 2011
Canadian Business Patenting Trails Significantly
38 June 2011
Many Large-Scale Incentive Projects Fail
39 June 2011
Large-Scale Incentive Packages Can Be Costly
40 June 2011
Taxes Can Be Low And High Or Wise And Unwise
41 June 2011
Our Tax On Business Investment Is Now Much Lower
42 June 2011
Canada Should Explore Tax Policy Innovations
Consider a Carbon Tax
Tax corporations on cash flow, not accruals
Eliminate the corporate tax
Reduce high Marginal Effective Tax Rates forReduce high Marginal Effective Tax Rates for low income earners
T i di id l i iTax individuals on consumption, not income
43 June 2011
Support And Pressure Drive Innovation
44 June 2011
Venture Capital Investment Is Lower In Canada
45 June 2011
Canada Has More Deals
46 June 2011
Venture Capital Deals Are Smaller In Canada
47 June 2011
Venture Capital Returns Have Been Abysmal Recently
48 June 2011
Lean Startups Are New Approach To Venture Capital
49 June 2011
Microfunding Offers Potential For VC
50 June 2011
Microfunding Offers Potential For VC
51 June 2011
Canada Had 15 Billion$ Global Leaders In 1985
52 June 2011
Canada Created 25 New Billion$ Global Leaders, 1985 – 2003
53 June 2011
Canada Created 2 New Billion$ Global Leaders, 2003 – 2010
54 June 2011
Canada Now Has 42 Billion$ Global Leaders
55 June 2011
Canada Now Has 42 Billion$ Global Leaders
56 June 2011
Invention And Innovation: What’s The Difference?
57 June 2011
Innovation Is Key For Canadian Global Leaders
58 June 2011
Base FDI Policy On Reciprocity, Not Net Benefit
59 June 2011
Canada’s Innovation Imperative
Productivity and innovation
AIMS f i tiAIMS for innovation
The innovation imperative:The innovation imperative: Steps to Canada’s prosperity
60 June 2011
The Innovation Imperative: Steps To Canada’s Prosperity
Attitudes
Encourage innovation for Canada to win inEncourage innovation for Canada to win in an ever more competitive world
R i d t i d t l th itRemain determined to close the prosperity gap through aggressive attitudes toward making innovation happen
61 June 2011
The Innovation Imperative: Steps To Canada’s Prosperity
Investments
Invest in the human capital and technologyInvest in the human capital and technology critical for innovation
C ti i ti i l f C d ’Continue investing in people for Canada’s competitiveness
Increase business investment in research and d l t d i i f ti ddevelopment and in information and communications technology
Review provincial policies and programs on incentives to attract businesses to Canada
62 June 2011
The Innovation Imperative: Steps To Canada’s Prosperity
Motivations
Ensure tax changes remain in place andEnsure tax changes remain in place and make Canada a tax innovator
M i t i th t h i O t i ’ dMaintain the recent changes in Ontario’s and British Columbia’s sales and corporate tax structures and encourage governments in Saskatchewan, Manitoba, and Prince Edward , ,Island to follow their lead
Lower marginal effective tax rates for low income Canadians
Consider a carbon tax
Pursue tax policy innovations
63 June 2011
p y
The Innovation Imperative: Steps To Canada’s Prosperity
StructuresDrive innovation through smarter public policies and more international tradepolicies and more international trade
Balance our public innovation strategies
Continue to encourage federal efforts to expandContinue to encourage federal efforts to expand international free trade agreements
Step up our efforts to increase trade with China, our next largest trading partner after the Unitedour next largest trading partner after the United States and the European Union
Replace the net benefit test for foreign direct investment with bilateral reciprocity treatiesinvestment with bilateral reciprocity treaties
Explore policy options to improve venture capital structures
64 June 2011
Keep the friendly pressure on our US neighbours to resist protectionist impulses
Canada’s innovation imperativeReport on Canada 2011Report on Canada 2011
Roger L. MartingToronto Reference Library | June 1, 2011