STATEMENT BY CANADA’S AEROSPACE INDUSTRY IN RESPONSE TO THE FALL ECONOMIC UPDATE 2023November 21, 2023
The Fall Economic Statement was a missed opportunity to provide a strategy for Canada’s aerospace industry, which plays a vital role in defence, creating jobs and stimulating the Canadian economy. With 80% of aerospace revenues export related, it can be a wealth generator for the country in a time of economic uncertainty.
Canada’s aerospace sector is integral to our country’s stability and prosperity, contributing significantly to innovation and employment and economic activity. A majority of our industry is small and medium sized businesses and there was nothing in this update supporting them.
A clear commitment to an aerospace strategy would enhance our national security, create more well-paying jobs, provide increased revenue to the benefit of all Canadians, and help Canada fulfil its international commitments.
AIAC will continue engaging with the government in the development of an aerospace strategy for Canada and eliminating the erroneous, job-killing tax on manufacturers that is damaging our sector and opportunities for Canadian workers.