At the unveiling of the federal budget yesterday, April 19, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance of Canada, recognized the importance of the aerospace sector as a creator of wealth in Canada by allocating $2 billion to support the industry in its recovery.

The government is reaffirming its support for the aerospace sector with $1.75 billion in funding over seven years for the aerospace sector in recognition of the impact of COVID-19 and $250 million over three years to implement a regional aerospace recovery initiative.

The government also announced measures, such as the Net Zero Accelerator measures, which will allow aerospace to accelerate its shift to decarbonization.

“CRIAQ welcomes and applauds this announcement, which sends a strong and positive signal to the aerospace sector, which has been hit hard by the crisis. These investments are of paramount importance so that, together, we can ensure the recovery of our industry and continue our efforts towards sustainable and prosperous air mobility,” said Alain Aubertin, CEO of CRIAQ.

Find the 2021 budget of the Government of Canada at the following link.