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Federal budget keeps Canada’s fintech sector in the ‘valley of death’

  • Michael King
  • |
  • Mar 2, 2018
Federal budget keeps Canada’s fintech sector in the ‘valley of death’

The 2018 federal budget almost completely ignored one of Canada's most innovative sectors. In an op-ed for The Globe and Mail, Michael King says Finance Minister Bill Morneau failed to voice his support for the fintech sector or to establish a national strategy for this industry to succeed globally.

"While Canada has a highly educated work force, finance expertise, and talented entrepreneurs, it seems the Canadian government is indifferent whether these innovations are grown at home or imported from abroad," writes King. "Canada's fintech ecosystem is not getting the support and attention directed at other crucial sectors, despite financial services accounting for 7 per cent of GDP and 4.4 per cent of all Canadian jobs."