Canadian Innovation

Canada has many advantages that should make our country the best place in the world to launch and grow innovative products and businesses, yet Canada is ranked only 17th in the world for innovation, according to the 2020 Global Innovation Index. Far too often, Canadian innovators run into barriers here, and sell to foreign investors or move other places to build their business.

Canada has one of the world's most talented workforces, and they deserve the jobs, technologies, and profits that come with unleashed innovation here in our country. With critical changes, we will strengthen Canada's position as a world leader in new technology, and Canadian tax dollars will no longer be sent to foreign state-owned companies.

Incentivize Canadian companies to develop their own products here by cutting the income tax rate in half for new patented technologies developed in Canada. This will give Canadian technology companies some of the lowest tax rates in the world

Make it more attractive to invest in small tech start-ups by introducing the use of flow-through shares, based on the model that has made Canada a world leader in mining financing

Establish the Canadian Advanced Research Agency to fund major cutting-edge technologies, such as carbon capture and storage, hydrogen fuel, electrical vehicle development, and pharmaceutical research and production

Fix the broken Scientific Research and Experimental Development program by moving it from the CRA to Innovation, Science and Economic Development Canada, simplifying the application process, and making it easier for software development to qualify

Review all of the Government of Canada's research and development programs to ensure that Canadian tax dollars benefit Canadians