Private-sector investment in factories and other structures down more than 23 per cent.
Foreign direct investment in Canada was $31.5 billion in 2017—down 56.0 per cent since 2013.
Business investment (excluding residential structures) is down nearly 20 per cent since the third quarter of 2014.
B.C.’s overall tax rate on new investment is 27.7 per cent—the highest rate in Canada.
Ottawa and many provincial governments have increased already uncompetitive personal income tax rates.
Foreign direct investment in Canada has dropped 56 per cent since 2013.
Statistics Canada released its latest survey results on investment intentions for 2018.
Finance Minister Bill Morneau’s budget missed an opportunity to convince investors that Canada remains a desirable place to invest.
Four provinces have increased their general corporate tax rates over the last three years, including B.C. and Alberta.
From 2014 to 2016, non-residential business investment in B.C. declined 19 per cent after accounting for inflation.