Canada Fall Economic Statement Next Steps For Manufacturers
The federal government’s Fall Economic Statement brought good news to the manufacturing industry in Canada.
At a time when companies are struggling with recent tariffs and uncertainty over the new USMCA agreement, the Statement introduced new and enhanced programs that can help manufacturers stay competitive on the global stage. Key initiatives include:
Immediate tax write-offs for the full cost of manufacturing and processing equipment and machinery.
Creation of the Export Diversification Strategy, which includes funding for domestic infrastructure upgrades, expanded Trade Commissioner Services in new export markets, and CanExport programs.
Removal of inter-provincial trade barriers and improvements to regulatory systems to help simplify and accelerate business processes.
Additional investment in the Strategic Innovation Fund over the next five years, with specific funds for the forestry sector and an emphasis on promoting clean technology.