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House Hansard - 300

44th Parl. 1st Sess.
April 16, 2024 10:00AM
Context: House Hansard - 300 - Apr/16/24
Mrs. Brenda Shanahan (Châteauguay—Lacolle, Lib.)
  • Apr/16/24 3:04:36 p.m.
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Mr. Speaker, National Tourism Week celebrates one of Canada's vital industries. This industry accounts for one in 10 jobs and has a presence in every region, including mine, Châteauguay—Lacolle, soon to be renamed Châteauguay—Les Jardins-de-Napierville. Our government has made strategic investments, such as the indigenous tourism fund and the tourism growth program. This is in stark contrast to the Conservatives, who vote to abolish programs at every opportunity. Would the Minister of Tourism tell us how important the tourism industry is?
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Context: House Hansard - 300 - Apr/16/24
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • Apr/16/24 4:18:50 p.m.
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We are equipping our AI innovators with the computing power they need to attract and nurture the best researchers, to scale up businesses and to drive the innovation that will deliver transformative economic opportunities for Canada and Canadians. Homegrown Canadian AI companies are already helping to boost the productivity of Canadian workers. A natural area to seize a further competitive advantage for Canada is building the mechanical heart of the AI economy: data centres. We have a natural edge. We have abundant and clean electricity. We have skilled and experienced engineers. We have the cold climate needed to help cool supercomputers, and we are physically close to the world's largest market, which has vast data-processing needs. We are introducing the accelerated capital cost allowance for innovation-enabling and productivity-enhancing assets. This means that investments in things like computers, data network infrastructure and more will be eligible for immediate write-offs. This will encourage companies to reinvest, create more jobs and make their businesses more productive and innovative. In the first three-quarters of 2023, Canada attracted the very highest per-capita foreign direct investment in the G7 and the third most total FDI in the world. Our budget builds on that significant accomplishment, because attracting investment is key to driving growth, increasing productivity and boosting innovation.
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