Canada's Innovation Imperative 2011

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Canada's Innovation Imperative 2011

  1. 1. Canada’s innovation imperative Report on Canada 2011Roger L. Martin gToronto Reference Library | June 1, 2011
  2. 2. The Institute Mandate To measure and monitor Ontario’s and Canada’s 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
  3. 3. Canada’s Innovation Imperative Productivity and innovation AIMS for i f innovation ti The innovation imperative: Steps to Canada’s prosperity 2 June 2011
  4. 4. Canada Has 9 International Peers 3 June 2011
  5. 5. Canada Is Among The Most Prosperous Of International Peers 4 June 2011
  6. 6. Canada-US Prosperity Gap Remains Significant 5 June 2011
  7. 7. Families Would Benefit From Closing Prosperity Gap 6 June 2011
  8. 8. …And Families Would Be Happier 7 June 2011
  9. 9. GDP Trends Are Very Similar In Canada And US 8 June 2011
  10. 10. Canada Has Outperformed US Participation Rates 9 June 2011
  11. 11. …And Unemployment Rates 10 June 2011
  12. 12. More Canadians Are Working Than In US 11 June 2011
  13. 13. Layoffs Affect Older Workers More Severely 12 June 2011
  14. 14. Institute Measures Four Components Of Prosperity 13 June 2011
  15. 15. Canada’s Labour Effort Matches US 14 June 2011
  16. 16. But Productivity Trails Significantly 15 June 2011
  17. 17. Canada’s Prosperity Gap Is A Productivity Gap 16 June 2011
  18. 18. Our Labour Effort Leads Peers; Productivity Lags 17 June 2011
  19. 19. Innovation And Productivity Are Closely Linked 18 June 2011
  20. 20. Institute Recommends 2020 Prosperity Agenda 19 June 2011
  21. 21. Institute Measures Four Prosperity Components 20 June 2011
  22. 22. Lagging Productivity And Intensity Drive Prosperity Gap 21 June 2011
  23. 23. Lagging Productivity And Intensity Drive Prosperity Gap 22 June 2011
  24. 24. Canada’s Innovation Imperative Productivity and innovation AIMS for i f innovation ti The innovation imperative: Steps to Canada’s prosperity 23 June 2011
  25. 25. AIMS Drives Prosperity; Prosperity Drives AIMS 24 June 2011
  26. 26. 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 and competitiveness Willingness to take action to achieve a higher standard of living 25 June 2011
  27. 27. Our Managers See Risk As Innovation Roadblock 26 June 2011
  28. 28. But Canadian And US Managers Have Similar Views 27 June 2011
  29. 29. Canada’s Public Investment In Education Trails Health Care 28 June 2011
  30. 30. Canada’s Public Investment In Education Trails US 29 June 2011
  31. 31. More Education Means Higher Earnings 30 June 2011
  32. 32. Fewer University Degrees Are Awarded In Canada 31 June 2011
  33. 33. Ontario Pulls Up Canada’s Performance In Degrees Awarded 32 June 2011
  34. 34. Canadian Business Investments Lag US 33 June 2011
  35. 35. ICT Investment Gap Is Larger 34 June 2011
  36. 36. Canada Trails US In Business R&D… 35 June 2011
  37. 37. …Business Is Source Of R&D Gap 36 June 2011
  38. 38. Business R&D Spending Links To Patent Output 37 June 2011
  39. 39. Canadian Business Patenting Trails Significantly 38 June 2011
  40. 40. Many Large-Scale Incentive Projects Fail 39 June 2011
  41. 41. Large-Scale Incentive Packages Can Be Costly 40 June 2011
  42. 42. Taxes Can Be Low And High Or Wise And Unwise 41 June 2011
  43. 43. Our Tax On Business Investment Is Now Much Lower 42 June 2011
  44. 44. 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 for low income earners Tax i di id l T individuals on consumption, not income i i 43 June 2011
  45. 45. Support And Pressure Drive Innovation 44 June 2011
  46. 46. Venture Capital Investment Is Lower In Canada 45 June 2011
  47. 47. Canada Has More Deals 46 June 2011
  48. 48. Venture Capital Deals Are Smaller In Canada 47 June 2011
  49. 49. Venture Capital Returns Have Been Abysmal Recently 48 June 2011
  50. 50. Lean Startups Are New Approach To Venture Capital 49 June 2011
  51. 51. Microfunding Offers Potential For VC 50 June 2011
  52. 52. Microfunding Offers Potential For VC 51 June 2011
  53. 53. Canada Had 15 Billion$ Global Leaders In 1985 52 June 2011
  54. 54. Canada Created 25 New Billion$ Global Leaders, 1985 – 2003 53 June 2011
  55. 55. Canada Created 2 New Billion$ Global Leaders, 2003 – 2010 54 June 2011
  56. 56. Canada Now Has 42 Billion$ Global Leaders 55 June 2011
  57. 57. Canada Now Has 42 Billion$ Global Leaders 56 June 2011
  58. 58. Invention And Innovation: What’s The Difference? 57 June 2011
  59. 59. Innovation Is Key For Canadian Global Leaders 58 June 2011
  60. 60. Base FDI Policy On Reciprocity, Not Net Benefit 59 June 2011
  61. 61. Canada’s Innovation Imperative Productivity and innovation AIMS for i f innovation ti The innovation imperative: Steps to Canada’s prosperity 60 June 2011
  62. 62. The Innovation Imperative: Steps To Canada’s Prosperity Attitudes Encourage innovation for Canada to win in an ever more competitive world Remain determined to close the prosperity gap R i d t i dt l th it through aggressive attitudes toward making innovation happen 61 June 2011
  63. 63. The Innovation Imperative: Steps To Canada’s Prosperity Investments Invest in the human capital and technology critical for innovation Continue investing in people for Canada’s C ti i ti i l f C d ’ competitiveness Increase business investment in research and development and in information and d l t di i f ti d communications technology Review provincial policies and programs on incentives to attract businesses to Canada 62 June 2011
  64. 64. The Innovation Imperative: Steps To Canada’s Prosperity Motivations Ensure tax changes remain in place and make Canada a tax innovator Maintain th M i t i the recent changes in Ontario’s and t h i O t i ’ d 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 p y 63 June 2011
  65. 65. The Innovation Imperative: Steps To Canada’s Prosperity Structures Drive innovation through smarter public policies and more international trade Balance our public innovation strategies Continue 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 United States and the European Union Replace the net benefit test for foreign direct investment with bilateral reciprocity treaties Explore policy options to improve venture capital structures Keep the friendly pressure on our US neighbours to resist protectionist impulses 64 June 2011
  66. 66. Canada’s innovation imperative Report on Canada 2011Roger L. Martin gToronto Reference Library | June 1, 2011

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