In 2015, the federal government introduced a new 33 per cent tax bracket.
Canada dropped to 17th among developed countries for innovation performance.
The amount invested in Canada by foreigners declined 55.1 per cent.
Capital flows to LSVCCs regardless of performance.
Ontario raised its top personal income tax rate by 3.1 percentage points, preventing up to 2,158 new businesses from starting.
An estimated 2,158 new businesses will not startup in the province due to the higher tax rate.
B.C. recently raised its top personal income tax rate from 14.7 per cent to 16.8 per cent.