OCUFA says Canadian business not doing its share for R&D

August 29, 2014

The Ontario Confederation of University Faculty Associations (OCUFA) says that Canadian businesses are not doing their part when it comes to collaborating on research and development. OCUFA cites a Statistics Canada report that shows that business spending on research and development is expected to hit its lowest level since 2004; adjusted for inflation, business’s investment in R&D will be at its lowest since 1999. OCUFA says that if current trends persist, private sector investment in R&D will soon be lower than at any point since 1990–91. OCUFA notes that the intensity of industrial R&D among nations in the Organization for Economic Cooperation and Development (OECD) is increasing in spite of Canadian figures that pull the average down. OCUFA says that “Canadian business is falling behind, sitting on cash reserves while expecting universities and governments to pick up their research slack.” OCUFA Blog