Canadian Manufacturers & Exporters (CME) designated May 31, 2012 as Innovation Policy Day. As part of the agenda, CME spoke with Minister of State for Science and Technology, the Hon. Gary Goodyear, on the importance of direct R&D support in Canada.
CME expressed the following views:
- The new direction proposed for the SR&ED tax credit creates an imbalance between support offered to large and small companies
- There is a growing imbalance between support for academic research and support for private sector commercialization of research – the last federal budget reallocated SR&ED funds to the Canada Foundation for Innovation, an academic research funding program. While in favour for stronger academic research, it should not be pursued at the expense of the private sector.
