USMCA Trade Deal Reached After Year of Intense Negotiations
Details about the newly renegotiated United States-Mexico-Canada Agreement (USMCA) have been released. This proposal, if ratified, will address disputes in the Canadian automotive and agricultural sectors, the cost of generic drugs in Canada, and online eCommerce. It does not currently address national security tariffs, but preserves the dispute resolution process from the North American Free Trade Agreement (NAFTA). […]
Ontario Budget 2018 Highlights
The Ontario 2018 Budget, tabled on March 28, 2018, projects a growing deficit over the next three years and is predicted to resume a downward trend in 2022 with accumulated deficit expected to decline from 23.2% of gross domestic product (GDP) in 2017-18 to 22.1% by 2022. The Ontario Budget proposes several measures and investments […]
How the New Federal Cabinet Might Impact R&D Funding in Canada
On November 4th, Prime Minister Justin Trudeau’s first, thirty-person cabinet was sworn into office. This group includes two ministers who will hold research and development-related portfolios in the new government. Kirsty Duncan, a medical geographer and former professor at the University of Windsor and the University of Toronto, was named Minister of Science, replacing outgoing […]
The 2015 Federal Economic Action Plan Supports Advanced Research Funding
In the 2015 Economic Action Plan, the Government of Canada prioritizes funding to foster advanced research within the nation, especially in the sector of advanced manufacturing. Over a six-year time frame, the Canadian Foundation for Innovation will receive $100 million to support digital research facilities as well as $1.33 billion to fund cutting-edge research facilities […]
Revisiting the Jobs and Prosperity Fund
It is abundantly clear by now that Ontario is in the midst of a job crisis. Despite vastly different campaign platforms, each candidate in this year’s provincial election agreed that job creation was a top priority. Marred by controversy, the Liberal party’s proposed budget was shot down by the opposition earlier this year. But now, the […]
Job Creation A Priority for All Ontario Electoral Candidates
Wednesday marks the beginning of the 2014 Ontario election campaign as Lieutenant Governor David Onley signed the official election writs. Although all of the candidates began campaigning when NDP leader Andrea Horwath announced she would not support the proposed provincial budget, this signing was necessary to formally complete the process. The party leaders wasted no […]
2014 Ontario Budget Tabled
The 2014-2015 Ontario fiscal budget was tabled on May 1, 2014. Among a hefty deficit for the 2013-2014 year and lower-than-expected revenues, Premier Wynne has announced plans for multi-billion dollar investments in public infrastructure and job growth. Included in these plans is a $2.5 billion Jobs and Prosperity fund. The new fund promises to award […]
2014 Federal Budget – Employment and Job Creation
On February 11, 2014, the Minister of Finance, James M. Flaherty, tabled the Conservative government’s tenth federal budget. Flaherty chose to stay the course towards a balanced budget in 2015 and will rely on employment and job creation to drive economic growth. The measures introduced to foster employment include: The Canada First Research Excellence Fund, […]
Expected Measures to be Delivered in 2013 Federal Budget Tomorrow
In regards to government funding programs, the following measures are expected to be announced tomorrow by Finance Minister Jim Flaherty, as part of the 2013 federal budget: Several hundred million dollars in annual funding for companies to train workers in skilled trades. Extension of a $1 billion tax break for manufacturers to encourage them to […]
2012 Ontario Budget- Reductions to come from Public Sector Wages, Pensions, Suspension of Corporate Tax Cuts
The Ontario government tabled a new budget Tuesday which proposes a deficit elimination plan to reduce spending growth by $17.7 billion over the next 5 years. The proposed budget highlights savings through the freezing of public sector wages and reductions in pension contributions, which will result in $6 billion of savings. The suspension of planned corporate […]