April 11, 2022
Ottawa, Ontario
The Prime Minister, Justin Trudeau, today issued the following statement on the upcoming Royal Tour of Canada by Their Royal Highnesses The Prince of Wales and The Duchess of Cornwall:
“This spring, Canada will have the pleasure of welcoming Their Royal Highnesses The Prince of Wales and The Duchess of Cornwall to Newfoundland and Labrador, the National Capital Region, and the Northwest Territories. During their visit, they will have the wonderful opportunity of seeing first-hand the diversity and kindness of Canadians and the beauty of our abundant natural landscapes that make us proud to call our country home.
“This year, Canadians and people across the Commonwealth are celebrating Her Majesty Queen Elizabeth II’s Platinum Jubilee, which marks the 70th anniversary of her accession to the Throne. The Royal Tour, which coincides with this historic milestone, will be an opportunity for Their Royal Highnesses to take part in various initiatives to honour The Queen’s service and dedication to our country, and meet with inspiring Canadians who are making a difference in our communities.
“On behalf of all Canadians, Sophie and I look forward to welcoming Their Royal Highnesses and showing them some of the many reasons why we take pride in being Canadian.”
April 12, 2022
Edmonton, Alberta
Small and medium-sized businesses are the backbone of the Canadian economy and the heart of our communities. That’s why the Government of Canada is proposing new measures in Budget 2022 to support small and medium-sized businesses so they can grow, innovate, and stay competitive, while creating good, middle class jobs.
The Prime Minister, Justin Trudeau, today highlighted key measures included in Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable to help small and medium-sized businesses.
The measures proposed in Budget 2022 include:
- Cutting taxes for Canada’s growing small businesses by ensuring growing businesses can take advantage of Canada’s low small business tax rate until their taxable capital reaches $50 million, rather than $15 million. This will encourage small businesses to continue growing and creating jobs.
- Growing Canada’s health-focused small and medium-sized businesses by investing $30 million to expand the Coordinated Accessible National Health Network to Quebec, the territories, and Indigenous communities to help health technology businesses grow, create good middle class jobs, and deliver better care to Canadians.
- Increasing access to Canada’s trade remedy system by providing $4.7 million over five years and $1.1 million ongoing to create a Trade Remedy Counselling Unit within the Canada Border Services Agency to help companies understand and access Canada’s trade remedy system, with a focus on small and medium-sized enterprises.
- Encouraging employee ownership of a business by creating the Employee Ownership Trust under the Income Tax Act to facilitate the transition of privately owned businesses to employees.
- Supporting recovery and growth for businesses by making smart investments to minimize the impacts of changes in global trade and other disruptions on sectors including transport, agriculture, and tourism and help them increase economic activity.
- Continuing consultations to reduce credit card transaction fees in a way that benefits small businesses and protects existing reward points for consumers.
Budget 2022 is proposing strategic investments and measures to ensure that small and medium-sized businesses continue to drive economic growth, create good middle-class jobs, and lead global production and innovation – now and for decades to come.
Quotes
“When we support our small businesses, we support our workers, our communities, and our economy. With measures in Budget 2022, we strive to ensure that small businesses in Canada can continue to grow, create jobs, compete and win in the changing global economy.”
“Our small businesses are at the heart of our communities, and supporting them is one of the most important things we can do to build a thriving economy. Budget 2022 will make it easier for them to innovate and grow, and will help ensure they can continue to create more of the good-paying jobs that so many Canadians count on.”
Quick Facts
- Small businesses currently benefit from a reduced federal tax rate of nine per cent on their first $500,000 of taxable income, compared to a general federal corporate tax rate of 15 per cent. A business no longer has access to this lower rate once its level of capital employed in Canada reaches $15 million.
- Budget 2022 proposes to provide $603.2 million over five years to Transport Canada to make supply chains more efficient, help ease the movement of goods across Canada, and cut needless regulatory red tape.
- Budget 2022 proposes to establish the Canada Growth Fund to help businesses reduce emissions and achieve Canada’s climate goals; diversify investment in the growth of low-carbon industries and technologies; and help restructure supply chains in key industries such as the natural resources sector.
- Budget 2022 announces a $1 billion investment for the creation of an independent federal innovation and investment agency that will help Canadian industries and businesses innovate, grow, create jobs, and be competitive in a changing global economy.
- These investments build on the many actions the Government of Canada has taken to support small businesses and grow the economy including:
- Enhancing the Canada Small Business Financing Program, increasing annual financing to small businesses by an estimated $560 million;
- Helping small and medium-sized businesses to invest in new technologies and capital projects by allowing for the immediate expensing of up to $1.5 million of eligible investments beginning in 2021;
- Helping small businesses grow and compete in the digital economy by launching the $4 billion Canada Digital Adoption Program to help grow their business online and boost their existing business technology;
- Investing in women entrepreneurs and small businesses through over $6 billion into the Women Entrepreneurship Strategy, unlocking access to financing, resources, and developing a supportive ecosystem they need to succeed; and
- Supporting Black entrepreneurs and business owners by investing $265 million into the Black Entrepreneurship Program.
Related Products
- Budget 2022 Backgrounder: A Strong, Growing, and Resilient Economy
- Budget 2022 Backgrounder: Creating Good Middle Class Jobs
- Budget 2022 Backgrounder: Tax Fairness
Associated Links
- Budget 2022
- Coordinated Accessible National Health NetworkHelping more Canadians drive electric vehicles
April 11, 2022
Victoria, British ColumbiaCanadians have been clear about what they want: clean air, good jobs, a healthy environment, and a strong economy. That’s why the Government of Canada is making it easier and more affordable for Canadians across the country to drive zero-emission vehicles (ZEVs), while helping the auto sector to build them right here in Canada.
The Prime Minister, Justin Trudeau, today highlighted key measures included in Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable to help Canadians make the switch to zero-emission vehicles.
The measures proposed in Budget 2022 include:
- Building a national network of electric vehicle charging stations by supporting charging infrastructure in communities of all sizes through $500 million in investments by the Canada Infrastructure Bank as well as $400 million for the Zero Emission Vehicle Infrastructure Program, toward our goal of adding 50,000 charging stations across the country.
- Helping more Canadians get behind the wheel of ZEVs by continuing to provide purchase incentives of up to $5,000 through investing $1.7 billion to extend the Incentives for Zero-Emission Vehicles Program until March 2025 and broadening eligibility under the program to include more vehicle models.
- Making it easier to buy a ZEV through a new, mandatory sales target so that when people go to purchase a ZEV, there are options for sale on the lot. At least 20 per cent of all new passenger vehicles sold in Canada will be ZEVs by 2026, and at least 60 per cent by 2030, on the road to 100 per cent by 2035.
- Helping businesses switch to medium- and heavy-duty zero-emission vehicles by investing $547.5 million to launch a new purchase incentive program.
- Positioning Canada as a global leader on critical minerals, which are essential to build ZEVs by providing up to $3.8 billion for Canada’s first Critical Minerals Strategy.
Budget 2022 and the recently released 2030 Emissions Reductions Plan: Canada’s Next Steps to Clean Air and a Strong Economy will ensure clean air and a strong economy. By putting Canadians in the driver’s seat of zero-emission cars and trucks, we are helping people save on gas, while fighting climate change, growing our economy, and building a better future for everyone.
Quotes
“One of the best ways to cut pollution is getting more clean cars on the road. That’s why we’re making it easier and more affordable for Canadian families to make their next vehicle purchase an electric one. Our plan is also creating jobs and growing the economy by building these clean vehicles right here in Canada. This is just one example of how our plan will benefit the environment, the economy, and families.”
“On-road transportation represents 20 per cent of Canada’s greenhouse gas emissions. Reducing that number is going to be critical to our fight against climate change, and by making it more affordable for Canadians to get behind the wheel of a zero-emission vehicle and helping to build the charging infrastructure they can rely on, Budget 2022 will do exactly that.”
Quick Facts
- The Government of Canada recently released the 2030 Emissions Reduction Plan: Canada’s Next Steps to Clean Air and a Strong Economy, an ambitious and achievable sector-by-sector approach for Canada to reach its new climate target of cutting emissions by at least 40 per cent below 2005 levels by 2030, and to put us on track toward our goal of achieving net-zero emissions by 2050.
- As of March 31, 2022, the Incentives for Zero-Emission Vehicles Program has helped Canadians purchase or lease over 141,000 new ZEVs.
- As of March 31, 2022, the Government of Canada has approved projects that will result in more than 25,000 new chargers and 19 hydrogen stations around the country.
- As of April 11, 2022, the Government of Canada has announced several investments to help the auto sector retool to produce EVs in Canada through the Strategic Innovation Fund.
- Critical minerals are central to major global industries like clean technology, health care, aerospace, and computing. They are used in phones, in computers, and in our cars. They are already essential to the global economy and will continue to be in even greater demand in the years to come.
Related Products
- Budget 2022 Backgrounder: Clean Air and a Strong Economy
- Budget 2022 Backgrounder: A Strong, Growing, and Resilient Economy
- Budget 2022 Backgrounder: Supporting Canada’s Rural Communities
Associated Links
