Today Conservative Party Leader Erin O’Toole was at CCI member company Magnet Forensics in Waterloo to make a policy announcement about Canadian competitiveness and innovation.
On behalf of more than 140 member companies across Canada, CCI executive director Benjamin Bergen issued the following statement in response to the Conservative Party announcement:
Today’s policy announcement from the Conservative Party of Canada puts forward a serious plan for boosting the Canadian innovation economy. The focus on driving Canadian competitiveness in the 21st century demonstrates that the Conservative Party has listened to our members and understands the policies that would have a meaningful impact on the Canadian innovation ecosystem.
For several years, CCI has been calling on the federal government to enact flow-through shares for technology companies and implement tax policies like a ‘patent box” which would encourage Canadian companies to generate and keep their IP in Canada where it can benefit our economy. Our members have also been calling for reforms the Scientific Research and Experimental Development (SR&ED) tax credit; a program vitally important to Canada’s innovation outputs, but as the Conservative proposal notes, in its current form is prone to bureaucratic hassles.
Overall, the leaders of Canadian technology companies believe now is the time to hear all political parties talking about clean growth, fuelled by Canadian-owned ideas, powering our economic recovery. We will continue to champion the technology sector as a driver of high-paying jobs and clean economic growth, and welcome engagement with all parties on these important topics.