An Innovative and Clean Economy
April 24, 2016
Supporting the Pan-Canadian Framework on Clean Growth and Climate Change
Budget 2016 will provide $2 billion over two years, starting in 2017–18, to establish the Low Carbon Economy Fund. The Fund will support provincial and territorial actions that reduce greenhouse gas emissions.
Enhancing Canada’s Knowledge Advantage
Budget 2016 provides $2 billion over three years, starting in 2016–17, for a new Post-Secondary Institutions Strategic Investment Fund. This initiative will support up to 50 per cent of the eligible costs of infrastructure projects at post-secondary institutions and affiliated research and commercialization organizations, in collaboration with provinces and territories.
Strengthening Innovation Networks and Clusters
Connections between knowledge producers and users—including researchers and firms—and collaboration within supply chains driven by market opportunities create value through innovation and support economic growth. To help address these challenges, Budget 2016 will make available up to $800 million over four years to support innovation networks and clusters, including support for initiatives delivered under the Industrial Research Assistance Program.
Investing in Ocean and Freshwater Research
Oceans and waterways are vital to Canada’s economy. They connect us to the world and are a resource for coastal and Indigenous communities. Budget 2016 will provide up to $197.1 million over five years, on a cash basis, to Fisheries and Oceans Canada to increase ocean and freshwater science monitoring and research activities and to provide support for the Experimental Lakes Area in Northwestern Ontario.