Canadian Business Executives Divided on Budget 2025: Canada Strong
The federal government's proposed Budget 2025: Canada Strong has received mixed reactions from Canadian business leaders. While some view it as a missed opportunity, others consider it transformative for the economy.
Overview of Budget 2025
Finance Minister François-Philippe Champagne introduced the budget on Tuesday. It includes tax changes aimed at attracting investment for major infrastructure projects.
Support from Council of Canadian Investors
Benjamin Bergen, president of the Council of Canadian Investors, described the budget as a significant step toward building trust with innovators. In an interview with BNN Bloomberg, he said:
“This budget is predominantly an inputs budget, where we’re seeing the government willing to commit billions of dollars for things like dual purpose defence technology; lots of what could potentially become investments.”
However, Bergen emphasized the need for clarity on wealth creation mechanisms:
“But ultimately, we’ve got to figure out what are the mechanisms we’re going to use to capture wealth.”
Goals to Boost Domestic Growth
The government aims to drive domestic economic growth and reduce reliance on the United States. Although Ottawa has been pursuing trade partnerships with other countries, Bergen urged a stronger focus on encouraging Canadian contractors to buy from one another to transform government spending into domestic prosperity and sovereignty.
Summary
Budget 2025 proposes important investments and tax incentives, but business leaders call for clear strategies to ensure these commitments translate into lasting economic growth within Canada.