Mr. Speaker, there is now some good news for high-tech, aerospace and biotechnology companies.
In his budget speech, the Minister of Finance announced that the Minister of Industry would soon introduce a program called Technology Partnerships Canada. This initiative will make Canada more competitive in advanced technologies.
Under this program, the government will share the risks of technological research with the private sector. This fund will increase from $150 million this year to $250 million next year. Moreover, the Federal Business Development Bank will receive an additional $50 million to finance businesses.
These initiatives will help create jobs and revive the economy in some parts of the country like the Montreal area and the national capital region.