Budget watchdog sees Canada clean investment tax credits costing $100 billion
SOURCE: UNSPLASH
The PBO released estimates for the cost of six new federal investment tax credits that target the clean energy and technology sectors.
Canada’s parliamentary budget watchdog is projecting the federal government’s new investment tax credit framework will cost just over $100 billion over the next decade.
In a new report published on its website, the Parliamentary Budget Officer said the estimates are based on the assumption that almost half a trillion dollars in investment will be eligible for the six credits: carbon capture and storage, clean technology, clean electricity, clean hydrogen, clean technology manufacturing and electric vehicle supply chain.
The PBO’s estimates are about $10 billion higher than the government’s forecasts.
