New Liberal Tax on Manufacturing and Workers will crush Canada’s global strength in business jets, handing an advantage to competitor nations | National Newswatch

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Canada’s aerospace industry is one of the most research-intensive manufacturing industries and an important driver of Canada’s innovation economy. Budget 2021 rightly recognized that our sector was one of those hardest hit by the pandemic, with a longer path to recovery relative to other sectors of the economy.

By failing to exempt aircraft for business use from the tax, the government will discourage Canadian companies from buying Canadian made products, costing jobs, impeding domestic capacity and capability, and causing further supply chain issues. This new tax works at cross-purposes with the very measures the government announced just a few months ago to support the recovery of the industry!

Canada’s expertise and leadership in business aircraft means the Canadian economy overall benefits. A recent report by the Department of Industry, Science and Economic Development and the Aerospace Industries Association of Canada indicates that almost 30,000 Canadian jobs supported by aerospace were lost in 2020 alone and the sector’s contribution to Canada’s GDP declined by $6.2 billion. However, business aircraft helped to buoy against the even steeper declines seen globally.

 

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Wtf this isn’t news, it’s a press release.

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