- About the Council
Together with the Business Council of Canada, Deloitte Canada today released its first-ever Competitiveness Scorecard measuring eight critical dimensions of Canada’s economic performance on the global stage.
Competitiveness is a multifaceted concept, encompassing a wide range of factors that determine whether a country is an attractive place to invest, create jobs and do business. Although discussions about competitiveness often focus on taxation and red tape, the reality is more complex. In the Competitiveness Scorecard, Deloitte Canada conducted analysis of more than 500 data series across a dozen key global competitor nations and summarized Canada’s performance in eight key areas: talent, economic stability, capital and investments, customers, infrastructure, innovation, tax and regulation.
The scorecard will play a significant role in the work of the Business Council’s Task Force on Canada’s Economic Future. Launched last month, the Task Force is engaging business leaders and a broad array of other stakeholders in advancing urgently needed policies to enhance growth and ensure a better future for all Canadians.
“Canada is one of the top countries in the world to start, grow, and invest in a business,” says Frank Vettese, Managing Partner and Chief Executive, Deloitte Canada. “But to continue leading, our country must remain focused on supporting an economic environment that builds on our strengths and takes aim at factors that are holding us back. This scorecard provides us with an important baseline—across the many dimensions of competitiveness—so that we can measure our nation’s progress toward boosting prosperity for all Canadians.”
“The global economy is changing rapidly and our country faces intense competition for investment, jobs and talent,” said Goldy Hyder, President and Chief Executive Officer of the Business Council. “The Competitiveness Scorecard allows Canadians to see at a glance the areas where we lead and where we lag. Our challenge now is to identify the key actions that will strengthen our country’s prospects, contributing to the tax base that supports Canadians’ social programs and quality of life.”
To download Canada’s Competitiveness Scorecard, visit thebusinesscouncil.ca/scorecard
Key takeaways and facts across eight categories:
Talent – Canada’s labour force is globally competitive
Economic stability – Canada’s macroeconomic stability underpins economic growth
Capital and investments – Weak investment continues to drag on productivity
Customers – Canadian firms are losing global market share and private sector debt is climbing
Infrastructure – The quality of infrastructure lowers Canada’s competitiveness
Innovation – Canada has fallen behind peers in its innovation performance
Tax – Canada’s tax environment can be uncompetitive relative to the United States
Regulation – Canadian firms can encounter higher regulatory burden than their peers
Deloitte provides audit & assurance, consulting, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights and service to address clients’ most complex business challenges. To learn more about how Deloitte’s approximately 264,000 professionals—9,400 of whom are based in Canada—make an impact that matters, please connect with us on LinkedIn, Twitter or Facebook.Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
About the Business Council of Canada
Founded in 1976, the Business Council of Canada is a not-for-profit, non-partisan organization representing business leaders in every region and sector of the country. The Council’s member companies employ 1.7 million Canadians, contribute the largest share of federal corporate taxes, and are responsible for most of Canada’s exports, corporate philanthropy, and private-sector investments in research and development. Through supply chain partnerships, service contracts and mentoring programs, Business Council members support many hundreds of thousands of small businesses and entrepreneurs in communities of all sizes, in every part of Canada. Please connect with us on LinkedIn or Twitter and subscribe to our recently launched podcast, Speaking of Business.
Business Council of Canada