Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
What the 2025 Throne Speech Means for Fintech and Growth
Innovation | May 17, 2025
Image: 2025 Throne Speech, Building Canada Strong
Building Canada Strong: Throne Speech Establishes Path for Innovation and Canada's Economy, Sovereignty, and National Unity
Today, on May 27, 2025, King Charles III delivered Canada’s Speech from the Throne in person for the first time since 1957. It's a symbolic speech that outlined a comprehensive and forward looking agenda with national priorities of productivity, sovereignty, security, and innovation. It sets the tone for the 45th Parliament, emphasizing the need to "build the strongest economy in the G7" and to act with urgency in a world that is "a more dangerous and uncertain place than at any point since the Second World War." Download the speech from the Throne (PDF format).
“An opportunity for Canada to embark on the largest transformation of its economy since the Second World War.”
For the National Crowdfunding & Fintech Association of Canada (NCFA), the speech is highly relevant as it recognized the role of technology, capital, and small businesses and innovators in strengthening Canada's resilience and leadership.
On Internal Trade, Infrastructure, and Innovation
Among the speech's most impactful economic promises:
See: The Crisis Canada and Fintech Can’t Afford to Waste
- Legislation to remove all remaining federal barriers to internal trade and labour mobility by Canada Day. These frictions cost the economy (and as a result tax payers) up to $200 billion per year.
- Create of a Major Federal Project Office to reduce project approval times from five to two years, while aligning infrastructure expansion with Indigenous consultation and environmental standards.
- A new plan called, "One Project, One Review" to work with provinces and territories so that major national projects only go through one streamlined approval process so projects can get approved and built quicker.
"By removing these barriers... we will unleash a new era of growth... It will enable Canada to become the world's leading energy superpower... and hub for science and innovation."
For fintechs, this means fewer roadblocks when expanding across provinces. Instead of trying to figure out the patchwork of rules and approvals (remember three versions of equity crowdfunding when it first rolled out?), it could become faster and easier to launch and scale services coast to coast. This policy change can make a real difference for founders of scaling companies.
New Focus on Housing, Investment, and Market Access
Create Build Canada Homes, a new housing sector built around modular and prefabricated construction, and providing financing for developers of affordable homes.
See: The Intersection of Fintech and Real Estate: How Innovation is Rebuilding the Foundation of Property Transactions
- GST reductions for homes under $1.5 million
- Municipal development charges at 50% for all multi-unit housing
- Measures to double housing starts and grow a new housing industry using Canadian labour, tech, and lumber
"The Government will... invest in the growth of the prefabricated and modular housing industry."
This will help open up new doors for fintechs building tools for mortgage access, construction financing, digital real estate platforms, and tenant services. Housing isn’t just about buildings. It’s also about people, families, and community, and fintech will be essential to making it all work faster and more affordable than before (at least that's the promise and opportunity/challenge facing us all).
National Security and ReArm Europe
The speech confirms Canada’s intention to join the ReArm Europe initiative to strategically align with EU partners to invest in transatlantic security and reduce reliance on U.S. military supply chains.
"The Government will protect Canada's sovereignty by rebuilding, rearming, and reinvesting in the Canadian Armed Forces... joining ReArm Europe."
This was a clear assertion of independence in the face of recent U.S. trade tariffs and annexation rhetoric from President Donald Trump.
U.S. Ambassador to Canada Pete Hoekstra, speaking before the throne speech, commented:
"If there's a message in there, there's easier ways to send messages. Just give me a call. Carney can call the president at any time."
See: Trump’s April 2025 Tariffs and What They Mean for Canada
Prime Minister Mark Carney, during a separate meeting, made Canada’s position unambiguous:
“It’s not for sale. It won’t be for sale. Ever.”
There are significant fintech implications around today's security which includes cybersecurity, fraud protection, and digital infrastructure to name a few. For fintechs working on compliance, identity verification, and borderless payment systems, Canada's new defense approach may boost demand for more secure, scalable tech. Not just in government systems but also for startups and businesses that need to keep their customer data safe of any threats and meet rising expectations for trust and transparency.
Rebuild Trust in Immigration and Celebrating Canada's Uniqueness
The Canadian Government will cap temporary foreign workers and international students at 5% of the population by 2027 to restore trust in immigration while still attracting top talent.
See: How Fintechs Are Tackling Financial Inclusion in Canada
The speech also reinforced protections for Indigenous rights, the French language, and Quebec culture, declaring:
"The French language and the Quebec culture are at the heart of the Canadian identity."
For fintechs focused on serving newcomers whether through digital banking, remittances, or providing other financial tools, this change will impact user growth. At the same time it offers an opportunity to design better tools for Canadians returning from abroad, and to focus on higher-skilled immigration pathways that better align with long term economic priorities (and less on a shotgun approach).
Fiscal Discipline and Investment Mobilization
Government operating spending will be capped at 2% annual growth. Waste will be cut and duplication eliminated, which will allow more capital to be diverted to companies and economic growth initiatives. Technology will be used to help improve public sector productivity.
"Spend less so Canadians can invest more."
See: Canada’s Productivity Depends on Intangible Tech Adoption
For fintech innovators, this means new tech and tools will be used more than ever to make the government more productive and efficient. So, whether you're in regtech, payments, or digital ID, there's opportunity to help the public sector modernize, cut costs, and serve Canadians better.
Outlook
A comprehensive Throne Speech in the face of geopolitical tension, population pressures like aging and rapid growth in certain regions, and growing economic pressure. For NCFA's community of fintech and innovation stakeholders, the policies announced will create new opportunities for a country that is in need of an renewal and/or overhaul.
“The Crown... stands proudly as a symbol of Canada today, in all her richness and dynamism.”
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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