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Nov 21, 2023 · Overall, private sector economists expect real GDP growth to be 1.1 per cent in 2023—up from the 0.3 per cent projected in Budget 2023. Growth of 0.4 per cent is expected for 2024, compared to the 1.5 per cent projected in Budget 2023, with growth projected to rebound to 2.2 per cent in 2025.
- A Made-in-Canada Plan: Strong Middle Class, Affordable ...
Budget 2023 is a direct response to these essential...
- A Made-in-Canada Plan: Strong Middle Class, Affordable ...
Oct 25, 2023 · Li, B., R. Fair, and C. Johnston. 2023. Analysis on supply chain challenges and conditions in Canada, first quarter of 2023. Analysis in Brief. Catalogue no. 11-621-M. Ottawa: Statistics Canada. Mitchell, T. and G. Gellatly. 2023. Assessing the rise in broad-based inflationary pressure during 2021 and 2022. Economic and Social Reports ...
Jan 1, 2023 · Prime Minister Justin Trudeau warned in a year-end interview with Global National’s Dawna Friesen that 2023 will be a “tough” year for ... are optimistic that Canada will make meaningful ...
- Aya Al-Hakim
- Clean Investment Tax Credits
- Investing in Clean Electricity
- A Growing Clean Economy
Clean Electricity Investment Tax Credit
To support and accelerate clean electricity investment, Budget 2023 proposes to introduce a 15 per cent refundable tax credit for eligible investments in non-emitting electricity generation systems, abated natural gas electricity-fired electricity generation, stationary electricity storage systems, and equipment for the transmission of electricity between provinces and territories. Taxable and non-taxable entities such as Crown corporations and publicly owned utilities, corporations owned by...
Clean Technology Manufacturing Investment Tax Credit
Budget 2023 proposes a refundable tax credit equal to 30 per cent of the cost of investments in machinery and equipment used to manufacture or process key clean technologies, and extract, process, or recycle certain critical minerals essential to clean technology supply chains.
Clean Hydrogen Investment Tax Credit
Budget 2023 announces the details of the Clean Hydrogen Investment Tax Credit announced in the 2022 Fall Economic Statement, with the levels of support varying between 15 and 40 per cent of eligible project costs, with the projects that produce the cleanest hydrogen receiving the highest levels of support.
To reach our goal of achieving net-zero emissions by 2050—and to power our homes, vehicles, and industries for generations to come—Budget 2023 puts in place major, long-term investments to place Canada on a track to build a net-zero emissions economy and secure Canada's affordable clean electricity advantage. This plan includes: 1. Beyond the clean...
Delivering the Canada Growth Fund
Announced in Budget 2022, the Canada Growth Fund—a new $15 billion arm's-length, public investment vehicle—will help attract private capital to build Canada's clean economy. Budget 2023 announces that the government intends to introduce legislative amendments to enable the Public Sector Pension Investment Board (PSP Investments) to manage the assets of the Canada Growth Fund to deliver on the Growth Fund's mandate of attracting private capital to invest in Canada's clean economy. One of the i...
Enhancing the Reduced Tax Rate for Zero-Emission Technology Manufacturers
To drive investment and create new jobs, Budget 2021 reduced corporate income tax rates by half for zero-emission technology manufacturers. Budget 2023 proposes to extend the availability of these reduced rates by another three years, and to extend eligibility for them to include the manufacturing of nuclear energy equipment and the processing and recycling of nuclear fuels and heavy water.
Supporting Clean Technology Projects
Budget 2023 proposes to provide $500 million over ten years to the Strategic Innovation Fund to attract and spur high-quality business investments to support the development and application of clean technologies in Canada.
- Department of Finance Canada
Nov 21, 2023 · The Canada Growth Fund's investments in cutting-edge Canadian businesses and technologies will help them grow in Canada and create good jobs for Canadians. In summer 2023, the Canada Growth Fund commenced operations, and is deploying a suite of financial tools to de-risk and bolster private investment in low-carbon projects, technologies ...
Budget 2023 is a direct response to these essential challenges, and it delivers: 1. New, targeted inflation relief for the Canadians who need it most. 2. Stronger public health care, including dental care for millions of Canadians. 3. Significant investments to build Canada’s clean economy, create good
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Jun 26, 2023 · We have revised up our full-year 2023 growth forecast for Canada to 1.6%, given a surprisingly strong first quarter, though growth momentum will weaken materially in the second half of the year. We revised down our GDP growth forecast by 30 basis points to 1.2% for 2024, when the full effects of the Bank of Canada's monetary tightening will take hold in the economy.
