OTTAWA — Finance Minister Chrystia Freeland’s fall economic update creates two new federal tax credits for clean technology and low\u002Demitting hydrogen…
The statement tabled in the House of Commons on Thursday is Freeland’s first big push to keep Canada in the clean-tech economy race in the shadow of the massive Inflation Reduction Act south of the border, and move Canada’s transition to a green economy further along.Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Freeland said the fall update is just the “down payment on the work that lies ahead to respond to the inflation Reduction Act.” That credit is being carved away from the clean-tech investment tax credit she said last April would be ready in time for this fall update. He said Canada’s tax credit isn’t identical, but along with clean tech credit, it will keep Canada competitive with the U.S.Article content
“Our basic view is if the government is investing in businesses, encouraging them to do things that we need done … it is entirely reasonable, in fact, I would say long overdue, for us to say ‘and as you’re doing it, you need to be creating good paying jobs for Canadian workers.”‘Article content
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