Stewart Elgie is a professor of law and economics at University of Ottawa, and chair of the Smart Prosperity Institute. He was a member of Canada’s Economic Strategy Table for the resources and energy sectors.
If Canada wants to hang on to promising cleantech companies like Carbon Engineering, so they stay and grow here, we need to keep pace with the U.S. by offering similar incentives in the upcoming federal budget. How can we do that? Canada can’t match the U.S. in terms of the size of our market or investment capital. But we can compete in offering tax incentives and other supports for clean tech companies. Indeed, Canada’s Economic Strategy Table identified cleantech tax incentives as one of the most important measures needed to grow Canada’s global competitiveness, including in the resource and energy sectors.
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