We need your feedback on the federal R&D Review Panel report
On October 17th, 2011, the federal R&D Review Panel, made up of business and academic leaders, released a report outlining recommendations to the federal government on how to make Canada "more innovative". Last February we presented to the Panel our submission on small business R&D realities.
The Panel's report, Innovation Canada: A Call to Action, has some noteworthy and welcome suggestions, including:
- simplifying the Scientific Research and Experimental Development (SRED) tax credit
- including business innovation as a criteria in government procurement
However, we also have some reservations with some of the recommendations, such as:
- limiting the SRED tax credit to labour costs only
- reducing the refundable portion of the SRED tax credit should a firm not become profitable within a certain period
- refocusing some of the funds currently dedicated to SRED to fund subsidies for specific firms with "innovative" ideas
The federal government will soon be asking for feedback on the report's recommendations, so we are asking members who have an interest in these issues and/or are involved in like programs, such as SRED, for your thoughts and ideas.
Let us know how government can improve SRED or what else they can do to help make Canadian businesses more innovative. Send us your feedback by emailing RDreview@cfib.ca.
