Government spending in Nova Scotia encompassed 60.2 per cent of the economy.
The province's private-sector investment per worker was $11,300—the lowest level in Canada and 47 per cent below the national average.
Low levels of capital investment and expenditures on research and development contribute to Canada’s slow productivity growth.
A majority of industries in Canada reduced investments in machinery, equipment and intellectual property products.
After the COVID crisis has passed, Ottawa should find ways to encourage private-sector investment and hiring.
Ten of 15 industries spent less on capital assets in 2017 than in 2014.
Private-sector capital spending in the U.S. picked up substantially after President Trump took office.
Statistics Canada’s latest survey on investment intentions for 2018 found that private-sector investment is slated to fall again this year.
In a famous explanation of why voters choose the governments they do, a 1990s-era adviser to Bill Clinton remarked, “It’s the economy, stupid.” That’s not wholly accurate; voters toss parties out (and vote parties in) on matters other than unemployment rates and incomes. The recent Alberta election is only the most obvious example.