Canada wants to keep active in the auto industry. But competing with U.S. incentives for just two EV battery plants could cost roughly $40-billion, according to a recent report
Imagine for a moment what would happen if Canada’s auto industry was sucked away into the United States. Tens of thousands of jobs and a big chunk of the $19-billion a year the sector contributes to Canada’s gross domestic product would slip away. How much would a Canadian government pay to stop that?
If you look closely at a recent report on green-technology incentives by Clean Prosperity and The Transition Accelerator, it provides an idea of how much it would cost to compete with U.S. incentives for two EV battery plants: roughly $40-billion. These are massive sums. And the thing is, it’s not just about one battery plant, or the auto sector. The incentives in the U.S. Inflation Reduction Act and the U.S. CHIPS and Science Act include massive subsidies for all kinds of green technology and advanced manufacturing. The Biden administration has embarked on a massive effort to “reshore” manufacturing to the U.S. and transform industry for a low-carbon future.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Aubry and Nelson: A targeted rent subsidy would help prevent and end homelessness in CanadaHalfway into the Trudeau government\u0027s 10\u002Dyear National Housing Strategy, there is no evidence the current plan is making much progress.
Lire la suite »
John Ivison: Lisa Raitt on why new Canada prosperity report gives her 'great concern'Why the former Tory MP, now co\u002Dchair of Coalition for a Better Future, finds the outlook for Canada more than a little disturbing.
Lire la suite »
Ivison: Lisa Raitt on why new Canada prosperity report gives her 'great concern'Why the former Tory MP, now co\u002Dchair of Coalition for a Better Future, finds the outlook for Canada more than a little disturbing.
Lire la suite »
'He brings great energy': Jakob Pelletier's positive vibes welcome by Calgary Flames teammatesThe Calgary Flames\u0027 Jakob Pelletier is a non\u002Dstop source of good vibes, a valuable asset for a team that hasn’t had much to feel good about.
Lire la suite »
McCARTHY: Twists and turns in golf's uncivil war is great #contentTuesday was a perfect day for the PGA Tour to announce that Netflix had officially green\u002Dlit a second season of its golf docu\u002Dseries
Lire la suite »