Minister Joly highlights Government of Canada investments from Budget 2026: Masters of our destiny to support industries

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Innovation, Science and Economic Development Canada

Nov 13, 2026, 10:30 ET

WOODBRIDGE, ON, Nov. 13, 2026 /CNW/ -- In a world reshaped by geopolitical competition, protectionism and rapidly evolving technologies, Canada stands apart. Our abundant natural resources, clean and reliable energy, world-class talent, strong public finances, and access to global markets give us a clear competitive advantage.

We have the strength to build and the discipline to deliver.

These foundations are already translating into results: investment is growing, major projects are being built, and businesses are reaching new markets at home and abroad. Budget 2026 keeps Canada on a path to meet both fiscal anchors: balancing day-to-day operating spending with revenues by 2027–2028, a full year ahead of schedule, and keeping the deficit-to-GDP ratio on a declining path.

Today, the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, met with Martinrea in Woodbrige, Ontario to highlight key investments from Budget 2026: Masters of our destiny to support Canada's industries.

It is an ambitious plan to meet this moment and shape Canada's economic future: building on our strengths, driving investment, boosting productivity, diversifying our trade, creating good jobs and making life more affordable for Canadians.

Budget 2026 is helping small businesses and key sectors navigate immediate pressures while strengthening their ability to adapt, diversify, grow, and compete over the long term by:

  • expanding the Strategic Response Fund, including $1 billion over six years, to support innovation, capital investment and R&D in areas like AI, agri-food, defence and aerospace, biomanufacturing and clean technologies, helping Canadian businesses innovate, pivot, scale up and compete globally
  • investing an additional $300 million over three years, starting in 2028–2029, and $200 million in future years, to leverage the Strategic Response Fund to expand industrial capacity and accelerate the adoption of modern methods of construction to build homes and help lower construction costs
  • introducing measures to improve competitiveness and leveraging the Canada Growth Incentive to mobilize more Canadian capital behind Canadian companies
  • investing in nuclear energy and critical minerals to help create high-paying jobs for Canadians, grow exports and strengthen Canada's position as a global energy superpower

As global markets shift, the government is responding decisively through Budget 2026 to help Canadians and industry navigate this period of profound change and come out of it with a stronger, more diversified economy and become the masters of our destiny.

Quotes

"Being masters of our destiny is about having the confidence to build on our strengths and shape our own future. Canada has the resources, talent and ambition to succeed. Budget 2026 builds on those strengths by unlocking investment, building more at home, strengthening our energy and natural resource advantage, and helping Canadian businesses grow and compete on the world stage. That's how we will create good jobs, make life more affordable, and build a stronger, more resilient and more united Canada for generations to come."
– The Honourable François-Philippe Champagne, Minister of Finance and National Revenue

"Budget 2026 is about ensuring Canadian industry has the tools necessary to build, grow and compete in an increasingly unpredictable global economy. Through expanded support for research and commercialization, strategic investments in key sectors, and new support through the Strategic Response Fund, we are helping Canadian companies accelerate major projects, strengthen domestic supply chains, attract investment and create good jobs. These measures will reinforce Canada's industrial competitiveness and ensure that the industries of the future are built here in Ontario and across Canada by Canadian workers and businesses."
– The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions

Quick facts

Despite a challenging global environment, the Canadian economy has shown resilience:

  • Canada's economy grew by 3.3% in the second quarter, the fastest pace in the G7.
  • The International Monetary Fund expects Canada to be the second-fastest growing economy in the G7 in 2027.
  • Canada is expected to maintain one of the lowest deficit-to-GDP ratios in the G7, signalling fiscal strength and the capacity to invest in the future.
  • More Canadians are benefiting from labour market strength. Over the past year, Canada's economy has added 214,000 jobs in private employment, while the unemployment rate has fallen to 6.5%, near its lowest level in two years.
  • Since the end of 2024, Canada has created nearly twice as many jobs per capita as the United States.
  • Rising productivity is helping lay the foundation for stronger wage growth and higher living standards, with productivity increasing by 1.2% over the last year, compared with average growth of just 0.1% following the pandemic.
  • Foreign direct investment in Canada is at its highest level in nearly two decades. Canada attracted $98 billion in foreign investment in 2025 and has led the G7 in direct investment inflows per capita since early 2025.
  • Canada has the lowest tax burden on new investment in the G7, encouraging businesses to invest, innovate and grow in Canada.
  • Nominal goods and services exports to countries other than the United States increased by $33 billion in 2025 and are on pace to rise by a further $57 billion in 2026, as more Canadian businesses reach new markets.
  • Canada is the only G7 country with free trade agreements with every other G7 member. Through 15 agreements in force covering 51 countries, Canadian businesses already have preferential access to 1.5 billion consumers and economies representing two thirds of global GDP.

Associated links

SOURCE Innovation, Science and Economic Development Canada

Contacts: Media may contact: Mathis Denis, Director of Communications, Office of the Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, [email protected]

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