Canada's 2024-2025 Budget - Aéro Montréal Lauds the Government Efforts and Emphasizes the Importance of Building a National Aerospace Strategy

MONTREAL, April 17, 2024 /CNW/ - Aéro Montréal lauds the Canadian government's efforts to strengthen Canada's security by updating its National Defence Strategy. It welcomes the commitment to support research and development, the space sector and access to sustainable aviation fuels. However, Quebec's aerospace cluster urges the government to continue its efforts by stressing the importance of implementing a national aerospace strategy to strengthen the country's industrial capabilities and competitiveness.

• Defence Policy Update: Our North, Strong and Free ($549.4M over 4 years, starting in 2025-2026, and $267.8M over the coming years, to enable the DND to replace Canada's global satellite telecommunications equipment and acquire new tactical helicopters and airborne early warning aircraft, among others. The update also includes $66.5M over 5 years starting in 2024-2025 for the training of Royal Canadian Air Force personnel)
• Protecting Canada's Biofuels Industry, notably through the reorganization and 4-year extension of the Clean Fuel Fund, providing $776.3M in total from 2024-25 to 2029-30 to support clean fuel projects
• Establishment of new whole-of-government approach to space exploration, technology development and research with the creation of a National Space Council
• Implementation of significant new investment tax credits by the end of 2024 to create jobs and keep Canada on track to reduce pollution and carbon neutrality by 2050
• Support for R&D and the maintenance of intellectual property with $1.8B over five years to increase funding for core research fellowships
• Creation of a new funding body for basic research 
• Creation of an Advisory Council on Science and Innovation
• Creation of a working group to encourage pension funds to invest in airport facilities
• A significant increase of $2.4B in targeted support for artificial intelligence (notably, $100 million over five years for the National Research Council's AI Assistance Program to help small and medium-sized enterprises expand and increase productivity through the development and deployment of new solutions)
• New directions for Crown corporations to take on more risk to support Canadian businesses.

"By updating our national defence strategy and investing in the security of our country, the Canadian government is taking a critical first step in the right direction. We look forward to working closely with the government to continue these efforts and meet NATO standards of defence spending equivalent to 2% of GDP. Efforts to stimulate promising sectors such as space research and exploration and the growth of artificial intelligence in Canada will also benefit the development of our industry. However, in the coming weeks, Aéro Montréal, along with the AIAC, also hopes to be able to engage in fruitful discussions with the government on strategic issues such as the development of a national aerospace strategy, essential to maintaining the competitiveness of the Canadian aerospace sector," said Mélanie Lussier, President and CEO of Aéro Montréal.

Established in 2006, Aéro Montréal is a strategic forum for collaboration that brings together all the CEOs of Quebec's aerospace sector from industry, educational institutions, research centres and including associations and unions.

Aéro Montréal's activities are made possible through the participation of the governments of Canada, Quebec and the Montreal Metropolitan Community, as well as the cluster's member companies.

SOURCE Aéro Montréal