2017-2018 federal budget highlights

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Mar 22, 2017

On March 22, 2017, the Minister of Finance, Bill Morneau, presented the 2017-2018 budget in the House of Commons. The budget continues the theme of helping middle class families, growing the economy and creating jobs.

Some of the key features of the budget plan were:

  • The government has introduced the “Innovation and Skills Plan” which will target six key areas: advanced manufacturing, agri-food, clean technology, digital industries, health/bio-sciences and clean resources.
  • The budget proposes a number of additional programs to support innovation and to foster growth in the clean technology sector.
  • The government has indicated its intention to close loopholes that result in unfair tax advantages for some at the expense of others. Furthermore, the budget proposes to invest an additional $523.9 million over five years to build on previous investments to 2 support the Canada Revenue Agency’s efforts to prevent tax evasion and improve tax compliance.

A summary of the economic and tax highlights contained in the budget is outlined in our Canadian tax alert.

For further details, we refer you to the Department of Finance website.

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