Liberals table bill to make Defence Investment Agency a Crown corporation

OTTAWA — The federal Liberal government has introduced new legislation to transform its Defence Investment Agency into a Crown corporation, marking a significant overhaul of the scheme initially proposed just months ago. Bill C-40 will establish an entity known as the "Canadian Corporation for Defence Investment," reporting to a newly appointed associate minister of national defence in charge of procurement.

According to the federal government, the agency's status as a Crown corporation will provide it with greater independence from the government, enable it to have a board of its own directors, and allow it to make decisions more swiftly. Prime Minister Mark Carney introduced the Defence Investment Agency in October 2025 with the aim of streamlining defence procurement, appointing former Royal Bank of Canada banker Doug Guzman as its CEO.

Initially, in the spring, the Carney government announced intentions to convert the agency into a departmental agency, placing it under the purview of a dedicated minister. Secretary of State for Defence Procurement Stephen Fuhr had advocated for the agency model over a Crown corporation, arguing that it would grant the government more control over its expenditures. This report by The Canadian Press was initially published on October 6, 2026.