As we get ready for the election day on Monday, I thought it is a timely idea to forecast what Federal government funding programs may be impacted by the election results. I split the programs by impact.
A big disclaimer: this is a non-partisan and non-solicitation newsletter, and it only reflects my opinion. Your vote is your choice.
It is unlikely that the R&D funding programs like SR&ED and IRAP will be significantly altered. They were around for a number of years. In addition, CanExport program, will likely stay as is or go through minor adjustments since all major parties committed to the Canadian export growth.
The mandate of the regional development agencies (FedDev and FedNor in Ontario) may be revised depending on the election result. However, those agencies already survived the change in Federal government 4 years ago. They provide interest-free loans such as Business Scale Up & Productivity and funding for Yves Landry Foundation’s skills training fund (AIME Initiative).
Depending on the budget constrains, the Federal portion of the Canadian Agricultural Partnership may be slightly adjusted. But overall, the agri-food sector is on the list of the priorities of all political parties.
All Federal programs that depend on the Federal carbon tax, such as Climate Action Incentive Fund, may be significantly impacted if the tax is reduced or scrapped. Other incentives for clean technology research, development and adoption and energy efficiency may also be impacted.
Anything New to Expect?
Two Canada’s leading political parties committed to the automotive industry growth. However, it is unclear how exactly this commitment will be delivered. It may be similar to the provincial Ontario Automotive Modernization Program.
Both parties also committed to skills training so we expect the launch of a replacement of Canada-Ontario Job Grant sometime in 2020.
What Do You Think?
Let me know what you think about the future of Federal government funding by replying to this email.
And remember, the government funding programs come and go. The only way for you to stay up-to-date is to check your eligibility regularly.