Forgot your account information?  |  Create a CME account

Manufacturing Innovation Key to Federal Budget 2016

Published by Marie Morden on March 22, 2016

Canada's manufacturing sector is the cornerstone of the Canadian economy as a major driver of employment, GDP, research and exports. The sector received several important measures that were specifically called upon by Canadian Manufacturers & Exporters (CME) and our members to boost productivity, innovation and investment.

"Today's Budget made several important measures to support Canada's innovative and economically critical manufacturing and exporting sector," said Canadian Manufacturers & Exporters Senior Vice President Mathew Wilson. "The most critical of which was the realigning of Canada's innovation support network and further strengthening ties between post-secondary institutions and industry."

Canada's manufacturing sector accounts for:

  • 1.7 million direct employees
  • 11 per cent of all economic activity
  • 45 per cent of private sector research and development
  • 70 per cent of exports

"CME members had called on the federal government to support innovation in order to boost manufacturing activities across the country. The most important measure noted in the budget was the alignment of support across government departments with a specific focus on advanced manufacturing, including new product development, commercialization and production," said Wilson. "While much work in this area remains, this is a positive first step towards defining an innovation agenda to drive economic growth in Canada."

Wilson added, "we also were pleased to see the governments continued support for work integrated learning and enhanced support for employer driven training through and expanded Canada Jobs Grant. One of the largest obstacles to growth in manufacturing and exporting is finding and developing the right people with the right talents. This commitment and support is very welcome."

CME also applauds specific measures including:

  • Long term infrastructure funding
  • Tax measures to support adoption of green technologies
  • Specific support for manufacturing sectors such as automotive and food processing
  • Commitment to implement Canada/Europe Free Trade Agreement
  • Additional tariff reductions for manufacturing inputs
  • Commitment to modernize and strengthen Canada's trade remedy system

"Even with a low dollar, we can't afford to take our eyes off the importance of investment in new products, new technologies and new skills for manufacturing success and job growth across the country. The budget takes several important steps to help companies make these critical investments."

Click here to view the Federal Budget highlights. CME's priorities for the budget and the government are outlined in our 2016-2017 Budget Recommendations report.

 

Found in: Manufacturing budget

National Office

Alberta British Columbia
Manitoba New Brunswick
Newfoundland & Labrador Nova Scotia
Ontario Québec
Prince Edward Island Saskatchewan