Canada will boost investment in the green transition in this year’s budget to compete with the U.S.’s massive stimulus, but the goal is to claim some of the growing clean-tech industry, not to compete against the world’s largest economy, according to a senior Canadian government source.
Countries around the world are trying to take advantage of a rapid shift to low-carbon energy, and last year’s adoption of the Inflation Reduction Act (IRA) in the United States provides huge incentives for those who invest there.
In the 2023-2024 budget, Canadian Finance Minister Chrystia Freeland has promised to try to level the playing field, at least in some areas, with the United States after the IRA.
“It’s about growing the pie, not just dividing it,” said the source familiar with the file, who did not have permission to speak officially. Canada has clearly communicated its plans to the Americans. “We don’t want to get caught up in a game of tit-for-tat,” the source said.
About the author: Christy Olsen
Christy Olsen, a young author who followed in her father's footsteps and took up journalism at school. She often introduces a lot of subjective things into his texts, always tries to state the essence and give a proper assessment.
