CCI Response to Prime Minister Trudeau’s Resignation

Today, Prime Minister Justin Trudeau announced that he will resign, and that he has prorogued Parliament until March 24, to give the Liberal Party time to select a replacement leader.

Proroguing Parliament will halt all pending legislation, including many policy files that are important to innovators — such as the reforms of the Scientific Research and Experimental Development tax credit, and long-awaited data privacy and AI regulation.

The prorogation also creates significant uncertainty and doubt about the capital gains tax hike, which innovation leaders have been concerned about since the government first announced these changes in last year's budget.

In response to today’s news, CCI President Benjamin Bergen issued the following statement, on behalf of our members:

"The resignation of Prime Minister Justin Trudeau comes at a time of profound uncertainty for Canada, and for our place in the world. Canada’s economy is in an ongoing productivity crisis, and we are seeing growing pressure from the United States and a volatile global economy.

‍"As we look to the weeks and months ahead, we hope all parties and leaders will prioritize sound economic policy and collaboration with private sector leaders to build a more competitive and prosperous Canada.

‍"Canada needs strong leadership with a clear economic vision that prioritizes strategic growth and resilience. Our success depends on ensuring Canadian companies can compete and thrive on the global stage, especially in the face of instability beyond our borders."

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Media Contact:

James McLeod
jmcleod@canadianinnovators.org

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