Ottawa needs 'made-in-Canada' response to U.S. Inflation Reduction Act: climate group
Ottawa needs 'made-in-Canada' response to U.S. Inflation Reduction Act: climate group
OTTAWA -
As the federal government readies its spring budget, a climate group is urging Ottawa to pursue a "made-in-Canada" response to U.S. clean energy incentives.
The Canadian Climate Institute published a report on Tuesday with recommendations for the federal government on how to respond to the U.S. Inflation Reduction Act passed last summer.
The institute says the federal government shouldn't try to match the incentives and subsidies offered by the U.S. and instead tailor its measures for Canada.
The Inflation Reduction Act, signed into law last August by U.S. President Joe Biden, invests nearly US$400 billion in everything from critical minerals to battery manufacturing, electric vehicles, and clean electricity, including hydrogen.
"To compete with the Inflation Reduction Act, Canada should not try and replicate it," Marisa Beck, the institute's clean growth director, told reporters on Tuesday.
Finance Minister Chrystia Freeland has signalled the March 28 budget will include ways to keep Canada competitive as countries transition their economies to cleaner energy and technologies.
"Our friends and partners around the world, chief among them the United States, are investing heavily to build clean economies," Freeland said in Oshawa, Ont. on Monday.
"Today and in the years to come, Canada will either capitalize on this historic moment … or we'll be left behind as the world's democracies build the clean economy of the 21st century."
The federal government took the first step in its push to keep Canada competitive by introducing new federal tax credits for clean technology and low-emitting hydrogen production in its fall economic statement last November.
The budget is expected to outline how Canada plans to grow and transition to a clean economy.
The institute says Canada should pursue targeted policies that don't over-subsidize industry but instead support projects to benefit society that the private sector wouldn't pursue on its own.
It also says the Canada Growth Fund, which will invest in clean energy projects using public dollars, should strive to to balance risk and return.
Once projects achieve profitability, the report says the government should pull its support.
"Long-term commitments over 10 (to) 15 years, of course, provide a lot of certainty for investors. But they can become really costly if it ends up that the projects are being over-subsidized," Beck said.
This report by The Canadian Press was first published March 21, 2023.
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Monday morning, the Public Service Alliance of Canada announced it had reached a 'tentative' agreement with the federal government for the 120,000 picketing Treasury Board workers who, since April 19, had been engaged in one of the largest strikes in Canadian history. Here's a rundown of the developments from Parliament Hill as they happened.
The House committee studying foreign election interference heard from top 2019 and 2021 Liberal and Conservative campaign directors on Tuesday, with party officials from both camps speaking about the need for politicians to come together to address any "legislative gaps" ahead of the next vote.
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Prime Minister Justin Trudeau's efforts to assure Canadians that his government is adequately addressing the threat of foreign interference took a hit on Wednesday, when the majority of MPs in the House of Commons voted for special rapporteur David Johnston to 'step aside,' a call Johnston quickly rejected.
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The powerful sister of North Korean Kim Jong Un on Thursday accused the United States of 'gangster-like' hypocrisy for criticizing her country's failed launch of a military spy satellite and insisted that the North will follow with a successful launch soon.
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He's heir to the throne in one of the oldest monarchies in the Middle East and a descendant of the Prophet Muhammad. She's a Saudi architect with an aristocratic pedigree of her own.
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Prime Minister Justin Trudeau's efforts to assure Canadians that his government is adequately addressing the threat of foreign interference took a hit on Wednesday, when the majority of MPs in the House of Commons voted for special rapporteur David Johnston to 'step aside,' a call Johnston quickly rejected.
It's that time of year again where MPs will be sitting until midnight until the House rises in late June, as the federal government pushes to pass as many bills as it can before the summer legislative hiatus. On Wednesday, Government House Leader Mark Holland announced that the Commons will be working late 'every single night … from here until the finish.'
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Facebook owner Meta Platforms said on Wednesday it would remove news content in its home state of California if the state government passed legislation forcing tech companies to pay publishers for journalistic content.
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"That '70s Show" star Danny Masterson was led out in handcuffs from a Los Angeles courtroom Wednesday and could get 30 years to life in prison after a jury found him guilty on two of three counts of rape at his second trial, in which the Church of Scientology played a central role.
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Confidence on the Scripps National Spelling Bee stage manifests itself in subtle ways, like spellers asking questions even though they know the answers.
Locals call it "watermelon salad." But this delicacy popular in the southern Gaza Strip at this time of year is far from the sweet, refreshing taste the name evokes.
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French Sports minister Amelie Oudea-Castera said Wednesday that Novak Djokovic's political message about Kosovo was 'not appropriate' and warned the former top-ranked Serb player that he should not do it again.
The U.S. government's auto safety agency plans to require that all new passenger cars and light trucks include potentially life-saving automatic emergency braking and meet stricter safety standards within three years.
Ever have a car with a difficult-to-reach seatbelt? This recall is for you. Ford is having to recall 176,000 of its Ford Bronco SUVs, model years 2021 to 2023, because the National Highway Traffic Safety Administration found that drivers and front seat passengers can have difficulty reaching the metal portion of the belt when it is in the retracted position.
