Certified Management Accountants of Canada (CMA Canada) Welcomes Recommitment to Investments in Innovation, Education and Training with Budget 2011 Update

Long-term View of Canada's Fiscal Situation and Focus on Innovation Important, Requires Ongoing Investments

OTTAWA, June 6, 2011 /CNW/ - Certified Management Accountants of Canada (CMA Canada) welcomes the newly-elected Conservative government's recommitment to innovation, education and training, in today's Budget 2011 Update. These are key drivers of Canada's productivity and will contribute to keeping Canada globally competitive and ensuring that the private sector can fully contribute to economic growth and job creation.

Budget 2011 announces several measures that respond to CMA Canada's recommendations to improve productivity, as advanced in the pre-budget consultations held by the House of Commons Standing Committee on Finance in August 2010. They include:

  • Improving commercialization, supporting the demonstration of new technologies, and encouraging colleges to work with small businesses to accelerate the adoption of information and communications technologies (e.g. 30 new Industrial Research Chairs, 10 new Canada Excellence Research Chairs, $12 million over five years for the Idea to Innovation program, and $80 million in new funding over three years for the Industrial Research Assistance Program);
  • $60 million in funding over the next three years to promote student enrolment in key disciplines related to the digital economy, including post-secondary science, technology, engineering and mathematics (STEM) programs; and
  • The announcement of a Financial Literacy Leader, $3 million per year in funding to promote financial literacy initiatives, and $9 million over two years for Northern territorial colleges' literacy and numeracy programs.

"Encouraging greater innovation and inventiveness is the best way to build a stronger more productive economy. We're very pleased that the Budget 2011 update maintains this commitment," said Joy Thomas, MBA, FCMA, C.Dir., President and CEO of CMA Canada.

"A long-term view of Canada's fiscal condition and a focus on innovation - through ongoing investments in post-secondary education, basic skills training, and research and development - will help Canada's private sector grow the economy and create jobs."

CMA Canada also welcomed Budget 2011's extension of the temporary accelerated capital cost allowance (CCA) rate for eligible machinery and equipment acquired before 2014 and the provision for accelerated CCA for specified clean energy generation and conservation equipment.

About Certified Management Accountants of Canada (CMA Canada)
With 50,000 members around the world, CMA Canada grants a professional designation in strategic management accounting® and is responsible for standards-setting, accreditation, and the continuing professional development of Certified Management Accountants (CMAs). CMAs provide an integrating perspective to business decision-making, applying a unique blend of expertise in accounting, management and strategy to identify new market opportunities, ensure corporate accountability, and help organizations maintain a long-term competitive advantage. To optimize the performance of global enterprises and build strategic management accounting skills, CMA Canada offers innovative executive development programs, advanced online courses, and internationally recognized knowledge management publications. For more information, visit www.cma-canada.org.

SOURCE Certified Management Accountants of Canada

For further information:

For more information on CMA Canada's recommendations or to arrange to speak with Mr. Richard Monk, CMA Canada's Advisor, National Affairs please contact:

Cindy Mantione
Communications Officer
CMA Canada
Tel: (905) 949-3116
Toll-free: 1-800-263-7622 ext. 3116
Email: cmantione@cma-canada.org

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Certified Management Accountants of Canada

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