Business View Magazine | May 2019

167 BUSINESS VIEW MAGAZINE MAY 2019 wildlife trade, combating invasive species, and promoting sustainable fishing practices. Once the CPTPP is fully implemented, 100 percent of fish and seafood tariff lines will be duty-free, leading to more competition and increased export potential for Canadian seafood and fish sectors in these markets. This, in turn, will result in greater job creation and higher wages for middle-class Canadians. INNOVATING FOR THE FUTURE Through all of these trade initiatives, the Government of Canada is helping small and medium-sized enterprises build the skills and capacity to compete globally by linking Canadian businesses to global supply chains, multi- nationals, and global infrastructure projects. Further, as of January 1st we have lowered the small business tax rate, yet again, from 11 percent to 9 percent, giving Canada one of the lowest small business tax rates in the world, and giving small businesses up to $7,500 a year in savings. Canada has been investing in innovation and the adoption of clean technologies so Canada’s fish and seafood industries can be more sustainable, productive, and competitive. Close to $500 million in national and targeted provincial funds focused on innovation, infrastructure, and science help our world class fish and seafood sector meet the ever growing global demand for high quality and sustainably- sourced Canadian fish and seafood products. Much of this work follows our historic $1.5 billion Oceans Protection Plan, the largest investment ever made to protect Canada’s coasts and waterways. Under this plan, a world-leading marine safety system is being created, and marine ecosystems are being protected and restored. Stronger Indigenous partnerships, engaged coastal communities, THE MINI STRY OF F I SHER I ES , OCEANS , AND THE CANADI AN COAST GUARD