BMO Financial Group

BMO Financial Group

March 30, 2012 10:12 ET

BMO Lauds Innovation-Friendly Federal Budget

TORONTO, ONTARIO--(Marketwire - March 30, 2012) - BMO Financial Group strongly supports the focus on innovation in this year's Federal Budget.

"Canada cannot afford to be a productivity laggard," said Hon. Kevin Lynch, Vice Chair, BMO Financial Group. "Clearly, the Jenkins report has been embraced in Ottawa. This is an innovation-friendly budget. The measures to support advanced research and increase private sector investments in early-stage risk capital are welcome, needed, and will create national wealth.

"The Prime Minister and the Minister of Finance have taken steps to position Canada for growth over the next generation, and they deserve credit for showing leadership on the innovation front. These are smart investments.

"Productivity and innovation lie at the intersection between public policy and private sector behaviour. With government showing leadership, business, universities and labour need to work together to improve Canadian living standards and competitiveness. Government has heard the message. Now is the time for all of us to act, not debate and delay."

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