Trudeau warns companies not to expect same handout as VW — via drivingdotca autonews
Earlier this month in Washington, Trudeau’s finance minister, Chrystia Freeland, warned that democracies cannot get into a “race to the bottom” on corporate subsidies or they’ll erode their tax bases, harming their ability to pay for social programs.Article content
Despite the money his government rolled out for Volkswagen — and the roughly $80 billion in long-term investment tax credits it promised in its latest budget for a variety of industries — Trudeau argued he’s still guarding against a subsidy war. Volkswagen, he said, almost certainly left money on the table when it chose Canada over certain U.S. states for its first EV battery plant in North America.
“I don’t know what other jurisdictions offered, but I’m fairly confident that they were willing to go further than we were able to go” with financial incentives, he said. Canada’s clean electricity grid, its labour force, and its public health care system were also factors that helped persuade Volkswagen to build the plant in St. Thomas, he said.
The prime minister said Canada can’t afford to fully match the U.S. subsidies available under last year’s Inflation Reduction Act. “If we were to try and match dollar-for-dollar the equivalent of the IRA, we’d lose our triple-A credit rating, quite rightly,” he said. “So we do have to be thoughtful and strategic about this.”
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.
Sacha Trudeau set to testify about Trudeau Foundation in front of parliamentary committee on WednesdayAsked about his brother’s upcoming testimony Justin Trudeau told reporters that he \u0027loves\u0027 his brother \u0027very much\u0027 but \u0027he’s doing his own things and I’m doing…
Lire la suite »
EDITORIAL: Trudeau reinterprets his vaccination policyIt’s true, as Prime Minister Justin Trudeau told students at the University of Ottawa last week, that he didn’t force anyone to get vaccinated because of COVID\u002D19.
Lire la suite »
EDITORIAL: Trudeau reinterprets his vaccination policyIt’s true, as Prime Minister Justin Trudeau told students at the University of Ottawa last week, that he didn’t force anyone to get vaccinated because of COVID\u002D19.
Lire la suite »
Premiers Call on Ottawa to Strengthen Bail System to Protect Communities Against Repeat Violent OffendersCanada's premiers have written Prime Minister Justin Trudeau with concerns regarding violent crime. In a lette...
Lire la suite »