Party frontrunners diverge on regional innovation and business subsidies as federal election battle heats up

The Liberal and Conservative parties have very different views on how Canada should exploit its expertise in science and technology and implement an effective innovation agenda. Now that the federal election is a horse race with no clear winner in sight, RE$EARCH MONEY examines the election platforms of both major parties and analyzes their respective approaches to business subsidies and regional innovation.

The Liberal Party has a distinct advantage in terms of articulating its innovation and S&T policy. Since 1997, the governing party has placed considerable effort on building Canada’s research base and is in the midst of formulating an innovation policy in which commercialization plays a key role. The centrepiece of its S&T election platform is a series of National Research Council commercialization centres, followed by a commitment to provide more venture capital through the Business Development Bank.

In contrast, the Conservative Party platform emphasizes an overall fiscal environment with lower taxes and less assistance to business. It’s already targeted Technology Partnerships Canada and the Industrial Research Assistance Program for review if not outright elimination. Like the Liberals, the Conservative Party expresses strong support for R&D.

On pages 2 and 3, RE$EARCH MONEY puts the party platforms under the microscope, with special emphasis on S&T, R&D and innovation.