AIAC slams federal budget as missing the mark on aerospace

The Aerospace Industries Association of Canada (AIAC) slammed the federal government's newly released budget as inadequate when it comes to helping Canada's aerospace industry remain competitive globally.

“Canadian aerospace plays a major role in the economic health of our nation, and it’s critical that we capitalize on this strength to secure Canadian aerospace jobs," said Jim Quick, president and CEO of AIAC.

Quick adds that although the budget mentioned the previously-announced space strategy and investment in the Lunar Gateway, its fails identify a strategy to ensure the sector's continued competitiveness.

AIAC believes the incentives, such as the Scientific Research and Experimental Development (SR&ED) tax credit and introduction of new skills development measures, are a good start but don't go far enough.

As a result, the AIAC has launched its Vision 2025 initiative, which will be released in early April. Led by the Honourable Jean Charest, Vision 2025: Beyond our Imagination is an initiative to chart a course for Canada’s future in the aerospace industry.