News Summary

The Canadian government’s innovation strategy has faced significant criticism due to perceived incompetence and unfinished policy commitments. The 2024 federal budget introduced a controversial capital gains tax inclusion rate, which overshadowed other tech funding commitments and drew backlash from over 2,000 tech leaders. This move has led to increased disillusionment with the government’s approach to innovation, prompting discussions about moving businesses to the US. The Canada Innovation Corporation, initially supported by substantial funding, remains in limbo due to political uncertainty and legislative stalemates. Despite the government’s efforts, many initiatives, such as the Digital Charter and the Digital Adoption Program, have not met their objectives, leading to a loss of faith in Canada’s innovation policies.