Dear Member,
You will find below the main transport-related highlights from the 2022 federal budget, which was unveiled by Finance Minister Chrystia Freeland yesterday afternoon.
Supply Chains and Trade Corridors
The budget proposes to provide $603.2 million in funding to Transport Canada over five years to build more resilient and efficient supply chains. This includes:
- $450 million to the National Trade Corridors Fund, with a view to supporting projects that facilitate the movement of goods across Canada’s transportation networks (this is in addition to the $4.2 billion that has been allocated to the fund since 2017). The Minister will also rename the fund to reflect the government’s focus on supply chains;
- $136.3 million to develop industry-driven solutions to use data in order to make Canada’s supply chains more efficient (of which $19 million will be sourced from existing resources);
- $16.9 million to increase supply chain competitiveness by reducing red tape and ensuring that regulations across various modes of transportation work effectively together.
These investments will complement the efforts of the the newly established National Supply Chain Task Force, which will work with industry, associations and experts to examine key pressures and make recommendations regarding short and long term actions to strengthen the efficiency, fluidity and resilience of Canada’s transportation infrastructure and its supply chains overall.
For more information, please see Chapter 2 of the budget, Section 2.2 (Supporting Economic Growth and Stable Supply Chains).
Oceans Protection Plan
The budget proposes to renew and expand the 2016 Oceans Protection Plan by providing an additional $2.0 billion over nine years (with $78.7 million in remaining amortization and $136.4 million per year ongoing). This funding will enable the government to take additional steps to strengthen marine safety, protect marine ecosystems, and create stronger partnerships with Indigenous and coastal communities in support of continued growth in Canada’s trade. The budget also announces the government’s intention to propose amendments to the Canada Shipping Act and other acts to support proactive management of marine emergencies and cover more types of communities.
For more information, please see Chapter 3 of the budget, Section 3.3 (Protecting our Lands, Lakes and Oceans).
Competition Act
Budget 2022 announces the government’s intention to consult broadly on the role and functioning of Canada’s Competition Act and its enforcement regime, and to introduce legislative amendments to the Act as a preliminary step towards modernizing the regime overall. This will include addressing loopholes; tackling practices that are harmful to workers and consumers; modernizing access to justice and penalties; and adapting the law to today’s digital realities.
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The full text of the budget can be found at this LINK.
Sincerely,
Karen Kancens
Vice President