Budget 2018 + Growth A Strong Middle Class Lloyd Longfield, MP Guelph Insert large photo of MP with Senior(s) Equality + Growth A Strong Middle Class Innovation and Skills Development for Canadian Businesses #Budget2018

Simplifying Access to Innovation Programs Lloyd Longfield, MP Guelph Innovation & Skills Plan Simplifying Access to Innovation Programs A business-centric lens: consolodating programs, streamlining program suite, single window via Innovation Canada Focus on doubling high-potential firms from 14,000 to 28,000 by 2025 Increase innovation funding, but reduce number of business innovation programs by up to 2/3 Increase IRAP concierge service: 15 new advisors, $13.5m over 5 years and $3m per year ongoing Four Flagship Platforms: Industrial Research Assistance Program Strategic Innovation Fund Canadian Trade Commissioner Service Regional development agencies https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Raise threshold from <$1m to <$10m Industrial Research Assistance Program Lloyd Longfield, MP Guelph Raise threshold from <$1m to <$10m Invest $700m over 5 years starting 2018, and $150m ongoing https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Strategic Innovation Fund Lloyd Longfield, MP Guelph Strategic Innovation Fund R&D projects over $10m Focus on larger projects that can lead to significant job creation Advance research and development through collaboration between academia, not-for-profits, and private sector Consolidate Centres of Excellence for Commercialization and Research, and the Business-led Networks of Centres of Excellence programs https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Canadian Trade Commissioner Service (TCS) Lloyd Longfield, MP Guelph Growing Exports 30% by 2025 Amalgamation of multiple trade promotion programs including CanExport, Canadian Technology Accelerators, Going Global Innovation, and Canadian International Innovation Program under TCS for simpler client navigation Creation of high-impact, agile TCS workforce Modernization of digital tools including seamless client navigation across federal partners Orientation towards the new economy, growing exports in technology, digital services, and intellectual property Connect women entrepreneurs with export opportunities $10m over 5 years starting 2018, $2m per year ongoing https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Supporting Innovation and Skills Plan Regionally Regional Development Agencies Lloyd Longfield, MP Guelph Supporting Innovation and Skills Plan Regionally Renew $920m over 6 years on cash basis to renew funding for the Federal Economic Development Agency for Southern Ontario Additional $511m over 5 years on cash basis, including $105m in new Women Entrepreneurship Strategy Simplify the existing suite of 2 programs offered by RDA’s with focus on scale up, developing new markets, and adoption of new processes https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Placing Evidence at the Centre of Program Evaluation Lloyd Longfield, MP Guelph Evidence Based Programs Placing Evidence at the Centre of Program Evaluation $1m per year ongoing to Statistics Canada to improve performance evaluations for innovation-related programs $2m per year ongoing to the Treasury Board Secretariat to establish a central performance evaluation team to undertake innovation performance evaluations on an ongoing basis, including using the data developed by Statistics Canada Improved diversity outcomes via national strategy to boost the participation of underrepresented groups in innovation-driven economy https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

A New Women Entrepreneurship Strategy Expanding Access to Entrepreneurship Lloyd Longfield, MP Guelph A New Women Entrepreneurship Strategy Helping Women-Led Businesses Grow: support innovation ecosystems, mentorship, networking and skills development. (details to follow) Canada and USA governments to increase proportion of procurement from women-led businesses, increasing from 10% to 15% via BDC led bootcamps Business Women in International Trade Program, $10m over 5 years starting 2018 https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Growing women-led SME access to capital Lloyd Longfield, MP Guelph Increasing Access to Capital Growing women-led SME access to capital $1.4 billion in new financing over 3 years available through BDC, in addition to and increase of $200 million from $70 million for investments in women-led technology firms over 5 years through BDC’s Women in Technology Fund $250 million over 3 years through Export Development Canada (EDC) to take advantage of opportunities in the global marketplace, as well as expert advice and training. EDC will also partner with women business associations, the Canadian Trade Commissioner Service, and BDC to ensure more women-led companies looking to export have quick access to available resources To support women in agriculture, the Government will create and launch a new lending product via Farm Credit Canada to supplement advisory services for women Government’s Venture Capital Catalyst Initiative launched in December 2017 has goal of injecting up to $1.5billion into Canada’s venture capital market, including strong focus on gender balance and diversity https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Via South West Ontario Regional Development Agency Assisting Growth of Women –Led Businesses Lloyd Longfield, MP Guelph Via South West Ontario Regional Development Agency $105m over 5 years to regional development agencies to: Support investments to scale and grow Support innovation ecosystems including incubators and accelerators and other third party programs supporting mentorship, networking, and skills development Connect women entrepreneurs to Government of Canada procurement opportunities for goods and services, with goal of 15% of all federal contracts be awarded to women-led SME’s, up from current level of 10% Business Development Bank of Canada (BDC) coordinate a series of boot camps across Canada for promising women entrepreneurs looking to start a business, focused on enhancing business skills and financial literacy $10m over 5 years investment in connecting women with expanded export services through Business Women in International Trade Program to take advantage of CETA and CPTPP https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

New Intellectual Property Strategy Lloyd Longfield, MP Guelph To help Canadian entrepreneurs better understand and protect intellectual property: $85.3 million over 5 years starting 2018, with $10 million per year ongoing to support the strategy To access and share IP, the government proposes to provide $30 million in 2019-20 to pilot a Patent Collective so SME’s have better access to existing IP Starting 2018, provide $21.5 million over 5 years via Innovation, Science, and Economic Development Canada to improve access to intellectual property legal clinics, as well as create a team to work with Canadian entrepreneurs to help them develop tailored strategies for using their IP and expanding into global markets $33.8 million over 5 years, including $4.5 million to create intellectual property marketplace to provide on line listing of public sector – owned IP available for licensing or sale to reduce transaction costs for businesses and researchers https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Research is the Engine that Drives an Innovative Economy Investing in Next Generation Research and Researchers Lloyd Longfield, MP Guelph Research is the Engine that Drives an Innovative Economy Implementing Fundamental Science Review $1.7 billion over 5 years via granting councils and research institutes Increase granting council budget 25% within 3 years $1.3 billion over 3 years in laboratories, equipment and infrastructure International and cross discipline collaboration between NSERC, CIHR, and SSHRC Increased support for women, early-career researchers, underrepresented groups Indigenous-led social scientists Attract and retain 250 additional Research Chairs https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Modernizing Canada’s Regulatory Frameworks Lloyd Longfield, MP Guelph In its December 2017 report, the Advisory Council on Economic Growth identified three priority areas for establishing an agile regulatory system designed for the new economy: • Catalyze innovation across the economy through regulations that accommodate emerging technologies and business models, especially in high-potential sectors • Drive coordination between agencies and jurisdictions, both within Canada and internationally • Promote efficient and predictable regulation. These priority areas were further supported by the early reports of the six Economic Strategy Tables. In response to these recommendations, Budget 2018 proposes to provide $11.5 million over three years, starting in 2018–19, for the Government to pursue a regulatory reform agenda focused on supporting innovation and business investment. https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Helping Women Enter and Succeed in the Trades Lloyd Longfield, MP Guelph Women in Skilled Trades Helping Women Enter and Succeed in the Trades Government allocating $19 million over 5 years to pilot Apprenticeship Incentive Grant for Women in male dominated Red Seal trades $3,000 for each of two years of training Apprenticeship Completion Grant $2,000 Pre-apprenticeship Program $46 million over 5 years starting 2018, and $10 million per year thereafter In partnership with provinces and territories, unions, post secondary institutions, employers and training providers to encourage underrepresented groups to explore careers in skilled trades Women in Construction Fund $10 million over 3 years from Employment and Social Development Canada’s existing resources https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Small Business Tax Update: Passive Investment Lloyd Longfield, MP Guelph Reduce small business tax rate from 11% in 2015 to 9% by 2019 Reduce the ability to access the small business tax rate if a corporation earns more than $50,000 per year from passive investments (stocks and bonds), equivalent to $1million in investments assuming 5% rate of return The Government will also correct a flaw that allows larger corporations to gain an unintended tax advantage by choosing to pay out dividends from their active business income (which qualify for a higher Dividend Tax Credit) while still benefiting from a refund of taxes paid on investment income. The proposed measure will not increase the overall tax burden on investment income, but will place limits on the timing and conditions to receive a refund. No existing savings will face any additional tax upon withdrawal, thereby maintaining the Government’s commitment to protect the tax treatment of all past savings and investments. With the proposed approach, incentives will be maintained such that Canada’s venture capital and angel investors can continue to invest in Canadian innovation. These changes take effect for taxation years that begin after 2018 https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018

Budget 2018 Lloyd Longfield, MP Guelph Lloyd Longfield Member of Parliament – Guelph Guelph: 40 Cork St. E, Guelph, ON  N1H 2W8 Tel: 519-837-8276 | Fax: 519-837-8443 Lloyd.Longfield@parl.gc.ca | mpLongfield.ca https://www.budget.gc.ca/2018/docs/plan/budget-2018-en.pdf #Budget2018