The collapse of the COVID-19 inflation is the fastest and fastest-growing economic situation since the Great Depression. It has unequally affected low-paid workers, young people, women and Canadians who were racist. Budget 2021 is a landmark investment to address the specific economic outcomes of COVID-19, to put people first, create jobs, grow middle class, put businesses on the path to long-term growth and ensure Canada’s future is healthier, equitable, greener and more prosperous. .
Budget 2021 reflects the Canadian Government’s commitment to invest in clean technology that lays the foundation for a strong, green economy and stability that creates opportunities for all Canadians. Clean technology continues to benefit Canadians – from reduced electricity costs to clean air to more than 211,000 well-paid jobs – and helps reduce our environmental impacts and help us meet our climate change goals. Building on the latest investment in climate change and clean technology, budget 2021 proposes to provide $ 17.6 billion in green alternatives that create balanced jobs, create a cleaner economy and protect against climate change.
Canada entered the epidemic with a strong financial situation. This has allowed the government to take immediate action and make decisions, support individuals and businesses, and put it in a position to make a significant investment in purchases.
“In terms of the 2021 budget, we have invested an unprecedented $ 17.6 billion in clean technology to achieve our climate goals and protect our planet for future generations, all while driving economic prosperity and creating decent jobs across Canada. These courageous investments demonstrate our commitment to helping companies. and innovators are succeeding in their efforts to find solutions for clean growth, thereby putting Canada on the map as a global leader in clean technology and climate change. ”
$ 5 billion over seven years to raise money for the Net Zero Accelerator. This support builds up to $ 3 million over the five years announced in the government’s December 2020 strengthening program. The money will allow the government to provide support for projects that will help reduce greenhouse gas emissions across the Canadian economy.
$ 1 billion over five years to help attract private sector funding for clean technology transformation projects. These resources will accelerate the growth of new Canadian companies, create jobs for highly skilled workers, help diversify the Canadian economy, and bring vital environmental and climate solutions to the world.
$ 24 million over three years of renewal
Clean Technology Data Strategy to continue measuring the contribution of clean technology to the Canadian economy; and
Clean up the growth center to continue to help clean up technology companies that roam state resources and funding.
Budget 2021 also proposes to provide Canada’s natural resources with:
$ 319 million over seven years to fund research, development and demonstrations that will improve the commercial performance of carbon capture, consumption and storage technology;
$ 1.5 billion over five years to establish the Clean Fuels Fund to fund the production and distribution of low-carbon and zero-emission oil, including hydrogen and biomass, establishing Canada as a global hydrogen leader and bringing the Hydrogen Program to Canada;
$ 9.6 million over three years to build the Critical Battery Minerals Center of Excellence, in addition to linking policy with critical mineral programs and working with provinces, territories and other partners; and
$ 36.8 million over three years of research with the organization to develop advanced battery mineral analysis and technology refinement
In addition, Budget 2021 proposes to provide $ 56.1 million over five years to Measurement Canada to develop and implement, in partnership with international partners, a set of codes and standards for retail and charging Zero Emission Vehicle. This will include the authorization and testing frameworks required to ensure that standards are met across Canada’s largest network of charging and refueling stations. Budget 2021 also proposes that Budget Canada cost $ 67.4 million to ensure that low carbon footage is accurately measured, as is the case with conventional oil.
This new investment will be the cornerstone of the government’s economic restructuring program, helping more than 200,000 Canadians maintain their homes, and investing in world-class technologies that keep the industry clean and reduce pollution.
To help accelerate investment in clean energy technologies and make Canada one of the world’s leading manufacturers of technology and hygiene, the 2021 Budget also proposes new tax tools that can:
a 50% reduction in corporate and business taxes on non-productive technology manufacturers;
expand the list of appropriate resources for tax incentives to encourage businesses to invest in clean electricity and energy efficiency, allowing them to quickly eliminate the full cost of investing in certain clean energy technologies;