The valiant talk, the catchy alliteration, the big spending in the name of a beautiful economy for everyone that was supposed to come at the end of the pandemic — those have been replaced in this year’s budget by pervasive uncertainty, crisis after crisis, and a shortage of capital to confront the cascading challenges.
That’s led to some experimentation with fiscal levers which could lead us there — but it’s far from guaranteed. The finance department figures we need investment of between $125 billion and $140 billion every year — yes, every year — to get to a net-zero economy by 2050. Right now, we see between $15 billion and $25 billion.The biggest piece of the experiment is a hefty tax credit for carbon capture and storage — $2.6-billion in writeoffs for the oil and gas sector to encourage it to develop more capacity to store underground the carbon dioxide emissions that come from extracting energy.
The second bet is on $4 billion for critical minerals. Over eight years, the government will provide a tax credit to find and mine the metals the world desperately wants for the production of greener and more digitally advanced phones, computers and cars. Canada has lots of these minerals, and the budget envisions the country’s capital markets, manufacturers and workers alike piling into this zone to compete against the likes of China.
hscoffield Using that tired old chestnut - fear.
hscoffield U forgot overpopulation. 7 billion people added to the planet in the last 200 years!
hscoffield Not panic. It’s called facing reality.
hscoffield Panic caused by the media
hscoffield Counter to inflation is hand out money to the big boys right so we can go 'oh no no please dont do that dont raise prices, here take our tax money instead'
hscoffield Good
hscoffield More like a sense of a lot of catching up to do
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal budget will complicate Bank of Canada inflation fightOttawa has indicated it remains more committed to delivering new social programs than repairing fiscal damage Don't worry the budget will balance itself what a ghastly woman
Source: nationalpost - 🏆 10. / 80 Read more »
Canada needs to act swiftly, collaboratively to implement key climate measuresThe steel industry continues to lead in its ambitious net-zero goals, but to meet Canada’s net-zero target by 2050, no industry or government can do it alone.
Source: TheHillTimes - 🏆 11. / 79 Read more »
Ottawa approves major offshore oil project in Newfoundland just days after UN calls new fossil fuel projects ‘madness’The federal government has approved a major new deep-water oil operation off the coast of Newfoundland, two days after the head of the United Nations said to invest in new fossil fuel projects is “moral and economic madness.” ABA: Anywhere But Alberta So the panic that s_guilbeault would be an activist or even effective Minister was incorrect. Good! This can be done without causing significant environmental impacts.
Source: TorontoStar - 🏆 60. / 55 Read more »
Opinion: Rebuilding fisheries and wild fish stocks for coastal First Nations would be reconciliation in actionCanada’s coastal fisheries and ecosystems have been pushed to the brink, just as climate change and other stressors continue to strain ecosystems, write Christine Smith-Martin and Marilyn Slett This should be touted as great benefit to all Canadians of rebuilding fisheries and wild fish stocks not just as reconciliation for coastal First Nations. Cant read behind paywall
Source: globeandmail - 🏆 5. / 92 Read more »
Extend special immigration measures to other crises: House of Commons committeeCanada's treatment of Ukrainians fleeing war has been distinctly different to those fleeing other humanitarian crises, the House of Commons immigration committee said Wednesday, and MPs want that to change. 🤮 What about the openly Neo Nazi Regiment in the Ukrainian army that burned russian separatists alive at pro russian protests. Canada already has a huge German Meth white supremacist anti samitic and homphobic issue from European Union immigrants full of holocaust wealth. No more.
Source: CTVNews - 🏆 1. / 99 Read more »
Opinion: Tackling climate change will require a big bet on clean technologyLike the development of mRNA vaccines, a cleantech moonshot would launch an economic boom for Canada that would ease the pain of weaning off our dependency on oil and gas save the world shut Canada down Of the top ten issues facing us right now, tackling climate change is issue 11. Let's tackle regime change first -
Source: globeandmail - 🏆 5. / 92 Read more »