Clean Prosperity released a report last month detailing the gap between the U.S. and Canadian incentive regimes for specific industries. In cases such as carbon capture, the gap is relatively small. For other industries, it’s a chasm. The paper found that U.S. tax credits for a battery plant equate to around C$2 billion (US$1.5 billion) annually over what Canada currently offers.
Given the government is now constrained by sharply higher debt-service costs on its pandemic spending, Trudeau is being forced to pick his lanes. Freeland acknowledged that recent turmoil in global financial markets is adding another headwind, but said Canada faces a generational opportunity to invest in its green industries.
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