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Government of Canada - 2018 Fall Economic Statement

Government of Canada - 2018 Fall Economic Statement
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The 2018 Fall Economic Statement is the next step in the Government's plan to grow the economy by investing in middle class jobs. The the Government of Canada proposes to: 

  • Improve competitiveness by allowing the full cost of machinery and equipment used in the manufacturing and processing of goods to be written off immediately for tax purposes, and by introducing the Accelerated Investment Incentive to support investment by businesses of all sizes and across all sectors of the economy. These changes will make it more attractive to invest in assets that will help drive business growth and secure jobs for middle class Canadians.
  • Increase investment in the clean technology sector by allowing specified clean energy equipment to be eligible for an immediate write-off of the full cost. This will help achieve climate goals, and position Canada to be more globally competitive.
  • Accelerate support for business innovation by providing a further $800 million over five years to the Strategic Innovation Fund, which will support innovative investments across the country and in all economic sectors. Notably, of this amount, $100 million will focus on providing support to the forest sector.
  • Make Canada a globally connected economy by launching an Export Diversification Strategy aimed at increasing Canada's overseas exports by 50 per cent by 2025.

For more information, please visit the Government of Canada's Fall Economic Sattement 2018.

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