Canada's 2024-2025 budget – Aéro Montréal commends the government's efforts and emphasizes the importance of creating a national aerospace strategy.

MONTREAL, April 17, 2024 ?azA?parat /CNW/ – Aéro Montréal Canadian ?authority? of Canada Security by updating the National Defense Strategy. It welcomes the commitment to support research and development, the space sector and access to sustainable aviation fuel. However, Quebec The aerospace cluster emphasizes the importance of implementing a national aerospace strategy to strengthen the country's industrial capabilities and competitiveness and urges the government to continue its efforts.

important moments for Quebec Aerospace sector

• Update protection policy: Our North, strong and free ($549.4 million Over 4 years, starting from 2025-2026, and $267.8 million to enable replacement of DND in future years of Canada procurement of global satellite telecommunications equipment and new tactical helicopters and airborne early warning aircraft, etc. The update also includes $66.5 million (over 5 years from 2024-2025 to train Royal Canadian Air Force personnel)
• Protection of Canada Biofuel industrynamely, by reorganizing the Clean Fuel Fund and extending it for 4 years $776.3 million all support clean fuel projects from 2024-25 to 2029-30
• Creating a new whole-of-government approach to space exploration, technology development and research Creation of the National Space Council
• Introducing significant new investment tax credits Creation and preservation of jobs until the end of 2024 Canada On the way to reducing pollution and carbon neutrality by 2050
• Support R&D and intellectual property support with $1.8 billion increase funding for major research scholarships over five years
• Creation of a new funding agency for basic research
• Creation of an advisory council on science and innovation
• Creation of a working group on encouraging pension funds to invest in airport facilities
• significant growth $2.4 billion providing targeted support for artificial intelligence (especially $100 million for more than five years National Research Council AI assistance program that helps small and medium-sized enterprises to improve and expand productivity by developing and implementing new solutions)
• New directions For Crown corporations to take more risks to support Canadian businesses.

“By renewing our national defense strategy and investing in our country's security, the Canadian government is taking an important first step in the right direction. We look forward to continuing these efforts and working closely with the government to meet NATO's defense spending standards. To 2% of GDP efforts to stimulate promising sectors such as equal space research and exploration and the growth of artificial intelligence. Canada It will also benefit the development of our industry. However, in the coming weeks, Aero Montreal hopes to be able to engage with the AIAC in fruitful discussions with the government on strategic issues, such as the development of a national aerospace strategy important to support the competitiveness of Canada's aerospace industry. sector,” said Mélanie Lussier, President and CEO of Aéro Montréal.

About Aero Montreal

Founded in 2006, Aéro Montréal is a strategic collaboration forum that brings together all CEOs. Quebec the aerospace sector from industry, academia, research centers, including associations and unions.

Aéro Montréal is made possible by the participation of governments Canada, Quebec and Montreal Metropolitan Association, as well as cluster member companies.

SOURCE Aero Montreal

For more information: Lea Guicheto, Aero Montreal, 514 550-7494, (email protected)