Wins for Business 2022

We were happy to see a number of policy wins for business in the Budget aligned with our pre-budget submission and/or policy resolutions passed at previous AGMs. Some highlights:

• Funding of $875.2 million over five years, plus an ongoing $238.2 million per year to respond to cybersecurity threats. This goes towards the Communications Security Establishment as well as other departments and crown corporations.
• $1.5 billion over seven years for infrastructure investments to support critical mineral supply chains, plus a further $1.5 billion to support manufacturing, processing and recycling applications.
• Additional $450 million over five years for the National Trade Corridor Fund, with a rebranding of the fund to focus on supply chains.
• Launch a cannabis strategy table led by Innovation, Science and Economic Development Canada (ISED) to identify ways to grow the sector.
• An investment tax credit of up to 30% for net-zero technologies, battery storage solutions and clean hydrogen.
• Amendments to the Employment Insurance Act to provide more support for worker re-training, including a commitment to modernizing Labour Market Transfer Agreements.
• Funding of $29.3 million over three years for a Temporary Foreign Worker (TFW) Trusted Employer Model that reduces red tape for regular users of the program. More details to be announced in 2023.
• A consultation will launch on Bill C-208 passed by the last Parliament to reduce loopholes in the execution of intergenerational business transfers.

Explore a more detailed list of Budget 2022 wins for business here.