pitched his government’s budget to Bay Street on Tuesday, arguing that billions in new government spending on green technology was needed to “crowd in” private capital, while offering a populist message that “real wealth” is not created on bank trading floors.
The government made its green spending blitz in response to massive U.S. subsidies contained in last year’s Inflation Reduction Act. The U.S. government plans to spend around US$370-billion in the coming years to help decarbonize the American economy, sparking concerns in Canada about competitiveness and capital flight south across the border.“Our budget is not a defensive economic posture,” he told business leaders gathered at a conference hosted by Bank of Montreal and Eurasia Group.
The measures in the budget include an investment tax credit for clean energy manufacturing that is worth $4.5-billion over five years and a tax credit for clean hydrogen production, worth $5.6-billion. The government has also launched a $15-billion fund aimed at investing alongside private-sector investors in low-carbon projects.
“Real wealth isn’t made on the trading floor. It’s created in factories, in fields, in labs, in mines,” he said.
It's not his money. All money flows to liberal voter base
Total BS.
WorstPrimeMinisterever
NEEDS THE BANKS BECAUSE THE PEOPLE AREN'T DONATING 🤣🤣🤣🤣🤣🤣
What a bunch of crap. Big government subsidies « crowding in » private investment? Since when? And what’s up with the bank bashing and anti-globalization babble? This is not a new vision. It sounds as if it was written by the union movement with the help of the NDP.
This is the same clown who told us that 'the budget will balance itself', and that he can grow the economy in a 'she-cession' 'from the heart out', remember?
Shameless narcissist weasel with the fiscal acumen of a clown shoe pretends to be an authority on the economy… Canada is in for a rough ride.
globebusiness Trudeau has no clue about business or economics
Economic illiteracy is rampant in parliament. More disturbing rhetoric from our leadership.
globebusiness Good policy vs spending is needed.
I guess he realised that he has to tax us 200% more to achieve his goal of egalitarian utopia for politburo and dystopia for the rest of us.