Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, held a virtual roundtable to discuss investments from Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience. He was joined by Élisabeth Brière, Parliamentary Secretary to the Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec), and Lyne Bessette, Member of Parliament for Brome-Missisquoi. Roundtable participants included executives from SB Technologies and members of the Institut quantique of Université de Sherbrooke. Participants emphasized the enormous commercialization potential of quantum technologies and discussed how to drive future economic growth.
Minister Champagne highlighted that Budget 2021 proposes to provide $360 million over seven years, starting in 2021-22, to launch a National Quantum Strategy. The strategy will build on Canada's significant strength in quantum research; grow Canadian quantum-ready technologies, companies and talent; and solidify Canada's global leadership in this innovative field. He discussed how these technologies have the potential to drive significant economic growth across the region as well as across industries.
Budget 2021 is a plan to position Canadian businesses and workers for a strong economic recovery. To achieve this goal, the Government of Canada is supporting almost 500,000 new training and work opportunities, including 215,000 opportunities for youth, and is accelerating digital transformation at small and medium-sized businesses. Budget 2021 puts the government on track to meet its commitment to create 1 million jobs by the end of the year, and in doing so, achieve its long-term goal of growing the middle class.
Minister Champagne highlighted how measures proposed in Budget 2021 will help entrepreneurs and small and medium-sized businesses across the Estrie region innovate and prosper as we look to build back better from the COVID-19 pandemic.
Quotes
"The COVID-19 pandemic has forced businesses across the country, both large and small, to rethink their approaches. Our government is helping entrepreneurs and business owners as they look for more digital options, more creative solutions and more climate-friendly investments. The collaboration between SB Technologies and the Institut quantique of Université de Sherbrooke is a great example of how Canadian innovators can work together to harness the power of changing markets to create jobs and push Canadian ingenuity further."
- The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
"I am very pleased to have received a virtual visit from my colleague, François-Philippe Champagne, Minister of Innovation, Science and Industry. As Member of Parliament for Sherbrooke, I am extremely proud to see our university position itself as a leader in quantum technology research. In light of the $360 million our government intends to invest in a national quantum strategy, I am confident that our university will continue to be a Canadian and global leader in this field. After all, the future is quantum."
- Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec)
"Quantum technology is at the cutting edge of science and innovation and has tremendous potential for growth. Our region has many leaders in the field, and I am proud to be a part of a government that supports the sector and makes it a priority."
- Lyne Bessette, Member of Parliament for Brome-Missisquoi
Quick facts
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Budget 2021 includes $101.4 billion over three years in proposed investments as part of the Government of Canada's growth plan that will create good jobs and support a resilient and inclusive recovery. Key measures include:
- Extending emergency supports to bridge Canadians and Canadian businesses through to recovery, including:
- Extending the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and Lockdown Support until September 25, 2021.
- Extending the number of weeks for important income support for Canadians, such as the Canada Recovery Benefit and the Canada Recovery Caregiving Benefit.
- Supporting small and medium-sized businesses through several transformative initiatives, such as:
- Launching the new Canada Digital Adoption Program that will assist over 160,000 businesses with the cost of new technology. And it will provide them with the advice they need to get the most of new technology with the help of 28,000 young Canadians who will be trained to work with them.
- Allowing Canadian small businesses to fully expense up to $1.5 million in capital investments in a broad range of assets, including digital technology and intellectual property. This represents an additional $2.2 billion investment in the growth of Canada's entrepreneurs over the next five years.
- Supporting women, Black Canadians and other under-represented entrepreneurs who face barriers to launching and owning businesses through an investment of $300 million to enhance initiatives like the Black Entrepreneurship Program and the Women Entrepreneurship Strategy.
- Extending emergency supports to bridge Canadians and Canadian businesses through to recovery, including:
