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OTTAWA — Finance Minister Chrystia Freeland is to table her mid-year budget update in the House of Commons today focused heavily on driving investment to Canada's clean energy industries in response to new American tax incentives signed into law last summer.
Freeland isn't expected to do more to help Canadians weather the cost-of-living crisis. In September she offered up $4.5 billion to temporarily double GST rebates, create a dental care benefit for most kids under the age of 12, and offer a one-time top-up of $500 to a national low-income renters' allowance.
Both are part of the Inflation Reduction Act President Joe Biden negotiated and signed into law in August. Industry players have repeatedly warned the government that Canada needs to match the U.S. or investment will flee south and put Canadians out of work. Poirier said Canada's response in the fall economic statement needs to include matching programs on this side of the border, or"at least signal to industry that the fix is on the way.""We will remain competitive," Champagne told reporters following the Liberal caucus meeting."We know that the Inflation Reduction Act in the United States and the CHIPS act is a catalyst for us to do more.
Thunder Bay — Rainy River MP Marcus Powlowski said it's not so much about"reining in" spending because that presupposes that the funds Ottawa offered up to help people get through COVID-19 was out of control,"which I don't think is the case.""There's more of an opportunity to be frugal now," he said.
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