Industry welcome tax credits, but say more needed to tackle Biden's IRA

“It’s a great start, but the clock is ticking,” Dennis Darby, chief executive of the Canadian Manufacturers & Exporters , said. “The signal … is positive and may cause companies to make sure they consider Canada in investment decisions. The problem is businesses tend to make decisions in the here and now; they don’t make decisions on the promise for the future. Timing matters.”Article content

He said businesses will only know how competitive the new incentives are compared to the IRA once the federal government releases all the details in the next budget.Similarly, Catherine Cobden, chief executive of the Canadian Steel Producers Association, said the tax credits were a good start, but businesses need more given the threat to Canada’s competitiveness.

“We don’t expect Canada to meet the IRA dollar for dollar,” she said. “The U.S and Canada have taken a very distinctly different approach. In the U.S., they are just looking at incentives. In Canada, we are looking at incentives plus … carbon pricing. So, to protect our competitiveness under the IRA, we need to be comprehensive in our approach.”Article content

Brian Kingston, chief executive of the Canadian Vehicle Manufacturers’ Association, said the tax credits will not benefit the

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Federal government moves to cut China out of Canadian critical mineral industryThe order requires Sinomine (Hong Kong) Rare Metals Resources to sell its investment in Vancouver\u002Dbased Power Metals Corp., which has exploration projects for… Good news Can we ask why China was part of our critical mineral industry or would that make me a “conspiracy theorist”? Not sure why they needed to do this. Unless it was to piss China off (a rare thing) or just virtue signaling. The exploration money was welcome. They could restrict the export of the mineral if it was ever mined and produced. Lots of options if they wanted to control the metals.
Fonte: VancouverSun - 🏆 49. / 61 Consulte Mais informação »

Federal government moves to cut China out of Canadian critical mineral industry | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Fonte: natnewswatch - 🏆 58. / 59 Consulte Mais informação »

Feds move to cut China out of Canadian critical mineral industryAfter a national security review, Innovation Minister Francois-Philippe Champagne is ordering three Chinese resource companies to sell their interests in Canadian critical mineral firms.
Fonte: AutoNewsCanada - 🏆 77. / 51 Consulte Mais informação »

Ottawa seeks to cut China out of Canadian critical mineral industry - National | Globalnews.caChampagne's order comes less than a week after he said Canada would be limiting the involvement of foreign state-owned companies in the industry.
Fonte: GlobalNational - 🏆 81. / 51 Consulte Mais informação »

Federal government moves to cut China out of Canadian critical mineral industry | CBC NewsAfter a national security review, Innovation Minister François-Philippe Champagne is ordering three Chinese resource companies to sell their interests in Canadian critical mineral firms. About time now if the rest of cabinet stood up they could turf the fool JustinTrudeau Why are we so stupid and naïve here in the west? Chinese companies should have never been allowed to buy into Canada’s resource industry…let see if a Canadian company can try that in China. Cool, now let's stop trading with them and stop allowing travel from china until they can assure us they won't infect us with another disease.
Fonte: CBCNews - 🏆 2. / 99 Consulte Mais informação »