OTTAWA — The International Monetary Fund warns that Canada’s green subsidies could stoke an international race to the bottom, even as it credits the country…
The international agency published Tuesday the preliminary findings of its staff from an official visit to Canada.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
“Moreover, the current strong focus on electric vehicles — and their batteries in particular — as key to Canada’s green industrial development will require a cautious approach given rapid technological change,” the report says. The IMF staff also provided some analysis of the current economic situation in Canada, noting the Bank of Canada’s recent rate hike was warranted, given the economy has more steam than anticipated.
The international agency says Canada should work to rebuild its fiscal buffer, which would allow government to address any future crises that require higher spending.
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