Federal Budget 2022 Highlights
The Government of Canada unveiled its 2022 federal budget on April 7. Spending was largely focused on housing and defense and notably excluded targeted support for the tourism industry by means of wage and fixed-cost support, and an extension of the Tourism and Hospitality Recovery Program. It also did not include amendments to the Tourism Relief Fund, nor extensions and amendments to debt relief such as the RRRF and CEBA programs.
The Office of the Minister of International Trade, Export Promotion, Small Business and Economic Development spoke to Budget 2022 and noted that it is an innovation-forward budget that is focused on fiscal responsibility as Canada recovers.
Many initiatives in the budget are designed to support Canadian businesses as they scale up, including investments in the Canada Growth Fund, the Canada Innovation and Investment Agency, and the Coordinated Accessible National (CAN) Health Network.
Other commitments include investments to build a world-class IP regime, grow global innovation clusters, and ensure the resilience and stability of supply chains.
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To learn more about how the federal budget relates to the tourism industry, view the following summaries:
