Budget 2017 supports Canada's agriculture and agri-food sector as an important driver of economic growth
May 4, 2017
The 2017 Federal Budget, tabled in Parliament on March 22, 2017, recognizes Canada's agricultural sector as a trusted global leader in safe, nutritious, and sustainable food.
This budget will help farmers and food processors continue to grow their businesses, create jobs and foster long-term growth for the sector, strengthening its potential to be an even stronger economic engine for the Canadian economy.
To support Canada's farmers and food processors, Budget 2017 sets an ambitious target to grow Canada's agri-food exports to at least $75 billion annually by 2025, and launches several initiatives, from investments in science and innovation to value-added processing and infrastructure. It also reaffirmed the Government's commitment to the next federal-provincial-territorial agricultural policy framework.
Budget 2017 also proposes to:
- Invest $70 million in agricultural science and innovation to address emerging priorities such as climate change and soil and water conservation;
- Create a new $1.26 billion Strategic Innovation Fund to attract and support new high-quality business investments, including improving access to support for agri-food value-added processors;
- Accelerate innovation by investing $950 million in superclusters that enhance Canada's global competitiveness by focusing on innovative industries, including agri-food;
- Invest $200 million to support the expanded adoption of clean technology in the natural resources sectors, including by Canadian agricultural producers;
- Invest $2 billion in rural infrastructure, including roads and bridges, as well as investing in gateways and ports to help get agri-food products to market;
- Expand employment opportunities for young Canadians, including the creation of new green jobs;
- Strengthen trade within Canada, and abroad, including through the Comprehensive Economic and Trade Agreement with the European Union;
- Provide new investments of $2 billion for a new National Trade Corridors Fund to target congestion and inefficiencies at major ports to expand trade abroad;
- Support modern federal science infrastructure by investing $80 million over five years to replace the Sidney Centre for Plant Health located in British Columbia;
- Provide $149.3 million to renew core food safety inspection programming to support an effective and reliable food safety system, and;
- Improve programs to help Canadian employers hire temporary foreign workers to fill jobs, where labour shortages have been proven.
Visit the Budget 2017 website for more information.
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