Jul. 22, 2022
Business Investment Slowest In Maritimes
Business investment in the three maritime provinces has been below the average for the rest of Canada since at least 1990 and that has contributed significantly to the region’s slower economic growth and lower living standards, says a study by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “The Maritimes have the lowest levels of business investment anywhere in Canada and that’s been the case for decades, stunting the region’s economic growth and keeping workers in the region from enjoying a higher living standard,” says Steven Globerman, resident scholar at the Fraser Institute and co-author of ‘Promoting Capital Investment in Atlantic Canada: An Imperative for Prosperity.’ The study finds that from at least 1990 to 2020, Nova Scotia, New Brunswick, and Prince Edward Island have all suffered below-average business investment, especially in non-residential structures, machinery and equipment, and intellectual property products. Investments in machinery and equipment and intellectual property products play a significant role in improving productivity and raising living standards.