1. 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

2. 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
#Budget2018

3. 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
#Budget2018

4. 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
#Budget2018

5. 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
#Budget2018

6. 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
#Budget2018

7. 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
#Budget2018

8. 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
#Budget2018

9. 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
#Budget2018

10. 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
#Budget2018

11. 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 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
#Budget2018

12. 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
#Budget2018

13. 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.
#Budget2018

14. 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
#Budget2018

15. 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
#Budget2018

16. Budget 2018 Lloyd Longfield, MP Guelph Lloyd Longfield
Member of Parliament – Guelph
Guelph: 40 Cork St. E, Guelph, ON  N1H 2W8
Tel: | Fax:
| mpLongfield.ca
#Budget2018