CWB Group supports spending initiatives in budget 2017
The Canadian Welding Bureau Group (CWB Group) is pleased with the spending initiatives in Budget 2017 by the federal government because of its diversity in addressing several key areas linked to the Canadian welding industry.
“The disbursement of funding included in this year's budget related to innovation, skills, infrastructure, natural resources and transport will benefit the Canadian welding industry,” said Doug Luciani, President and CEO of the Canadian Welding Bureau Group. “It’s reassuring that government is committed to these key areas to support economic development during this period in which economists are calling it a slow growth economy.”
Key areas of interest to Canadian welding industry
- $81.2 billion over 11 years starting in 2017-2018 for infrastructure.
- Re-extension of Mineral Exploration Tax Credit at its current level for another year. This will assist junior exploration companies raise capital to finance mineral extraction.
- National Energy Board funding to enhance pipeline safety oversight activities, and provide timely information related to energy, regulations and pipeline safety.
- Transportation funding - $20.1 billion over 11 years for next phase of public transit projects via bilateral agreements with provinces and territories.
- Innovation funding to the tune of $950 million over five years starting 2017-2018 to be provided on a competitive basis in support of a small number of business led innovation superclusters. The competition will be launched in 2017 and advanced manufacturing is one industry that will benefit from this funding.
- Innovation and skills plan that will target six areas, including advanced manufacturing.
- $1.8 billion over six years starting in 2017-2018 to expand Labour Market Development Agreements with the provinces and territories to help Canadians upgrade skills, gain experience, start a business or get employment counselling.
- $59.8 million expansion of eligibility for part-time students to access student loans and grants over four years starting in 2018-2019 and $17 million annually after that. Also, $107.4 million over the same period to assist students with dependent children.
- $395.5 million over three years for a youth employment strategy.
“Funding for these initiatives will all have a positive impact whether direct or indirect on the overall success of the Canadian welding industry,” said Luciani.
Welding in Canada is a critical part of industry, contributing over $5 billion to the Canadian economy and employing over 300,000 individuals. Without welding, most of the things we take for granted would not exist, such as cars, bridges, buildings, trains, pacemakers and even smart phones.
About CWB Group
The CWB Group is an industry supported private sector organization providing welding certification, management systems registration and training services to over 7800 companies in 34 countries. Supported through the Canadian Welding Bureau, CWB Institute, QUASAR, and the Canadian Welding Association membership, the CWB Group provides a comprehensive and integrated service to the welding and joining industry.