Prepared by: Robert Merson, March 21, 2013
Investing in jobs and manufacturing was a key theme of the Canadian federal budget presented March 21, 2013. Continued investment in research and innovation was also highlighted as an important element of the budget.
Existing funding programs received investment; however the investments are in line with sustained funding levels from previous years, with no significant investments in new funds. These investments include: a total of $37M across the tri-councils (which has been the same commitment for several years now); $165M for Genome Canada in 2014/15; and $225M for Canada Foundation for Innovation. The National Research Council (NRC) was provided with an additional $121M over 2 years to support innovative businesses as the NRC continues to evolve to a new model for partnership with industry.
Be aware however, that there is also significant investment in programs to ensure that Canadians are fully compliant with the tax system. Investments in the SR&ED program include funds to support first-time claimants ($5M over 2 years) and for reviewing applications deemed to be “high-risk” for non-compliance ($15M over 2 years).
Further insights into the $400M venture capital investment were presented, however the details on how the funds will be deployed are still vague.
