DEBT FINANCING. Flaherty urges more private innovation expenditure

Finance Minister Jim Flaherty called for Canada's private sector more money in research and development to pumps.
"Frankly, we have unacceptably low support for R & D and innovation in many parts of the Canadian private sector" said in his prepared remarks Flaherty a Friday speech to the Perimeter Institute in Waterloo, Ontario
"Everyone in this room - and most out of it in the today's Canada - white, that the global economy, the we now compete increasingly with new ideas and knowledge-based industries," he said.
"Despite this global reality, Canada lags other Nations in total expenditure on R & D." "At the same time R & D has reduced actually specifically issues in Canada since 2006."
He said that between 2006 and 2009, R & D expenditure of public authorities, universities and private non-profit groups increased, but for Canadian companies adjusted for inflation.
Failure to invest in innovation will leave a laggard in the digital economy in the country, he said.
"With great difficulty, both economically and socially, reactive instead of proactive we will." And our company continues to lag in productivity compared to their competitors in other countries.
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