Study: Canadian workers need better equipment

If there is one thing holding back Canadian workers from being productive it is the tools they have to do their jobs.

According to a C.D. Howe Institute study, Canadian firms spent only 83% the rate of their U.S. counterparts do on machinery and equipment between 1993 and 2008.

However, the recession has played a part with Canadian businesses investing at only 79% the level of their U.S. competitors and 92% the G7 average.

The low value of the Canadian dollar and the fact that most equipment is imported also plays a part in companies not updating their technology despite the federal government offering tax breaks on investments in machinery and equipment.

You can read the entire study here.