Budget 2017

Talking Points: Liberal Innovation Budget Fails to be Innovative

March 30, 2017

ISSUE:

The Liberals are calling Budget 2017 their “innovation budget”. However, there is nothing new or innovative in the Budget. In fact many of the programs are recycled and repackaged Conservative programs. There continues to be no plan and no commitment to jobs attached to any funding from this government.

KEY MESSAGES:

• Justin Trudeau’s “innovation budget” nickels and dimes Canadians to spend billions on buzzwords and catchphrases, not on regular Canadians. Unless you’re a “venture capital catalyst” or a “supercluster”, this budget isn’t for you.

• Innovation thrives when businesses and entrepreneurs are free from excessive taxes, regulation, and interference. Justin Trudeau takes the opposite approach. He picks the winners, and just doesn’t really care about anyone else.

• Conservatives will be the voice of the taxpayer. We will hold Justin Trudeau to account for the taxes he’s raised to pay for his uncontrolled spending, and for leaving ordinary Canadians behind.

OUR RECORD:

• When in Government, the Conservative Party understood that in order to keep up in this new global economy, we needed to push an aggressive innovation agenda. That’s why we:

o Created a more efficient and effective National Digital Research Infrastructure System by investing in CANARIE, Canada’s world-class high-speed research and education network.

o Extended Canada’s Participation in the International Space Station Mission to 2024 to build on Canada’s strong legacy of supporting space exploration.

o Developed the next generation of innovation leaders by supporting graduate-level industrial research and development internships through Mitacs.

o Made a landmark investment in post-secondary education by creating the Canada First Research Excellence Fund with $1.5 billion over the next decade. This investment helped secure Canada’s international leadership in science and innovation

o Provided $49 million to the Canadian Youth Business Foundation to help young entrepreneurs grow their own firms.

o Fostered world-leading research by investing $222 million in the TRIUMF physics laboratory to support leading research and launch cutting edge spin-off companies.

o Provided $1.5 billion to support private sector research and development to strengthen the competitiveness of Canada’s aerospace sector through the Strategic Aerospace and Defence Initiative.

o Launched the Venture Capital Action Plan to increase private sector investments in early-stage risk capital and to support the creation of large-scale venture capital funds.

o Supported technological innovation by investing $15 million in support of the Institute of Quantum Computing for the research and commercialization of quantum technologies and $3 million to support the creation of the Open Data Institute.

o Stood up for the automotive sector by investing $500 million in the Automotive Innovation Fund to support significant new projects in Canada.

o Provided over $800 million to support cutting-edge post-secondary research infrastructure through the Canada Foundation for Innovation