28/02/2005 - Budget
2005’s environmental investments and benefits
were highlighted before one of the world’s
leading environmental technology clusters
today. Stéphane Dion, Minister of
the Environment; Ralph Goodale, Minister
of Finance; David L. Emerson, Minister of
Industry; and Stephen Owen, Minister of
Western Economic Diversification Canada
and Minister of State (Sport) spoke today
in Burnaby at the headquarters of Xantrex
Inc, a leading power technology company.
The Ministers highlighted the following
Budget 2005 investments:
• $5 billion in gas tax revenues shared
with municipalities through the New Deal
for Cities and Communities – at least half
of which will be invested in green infrastructure
projects, with $635 million going to British
Columbia;
• $1 billion for the new Clean Fund, to
further stimulate cost effective technology
solutions to fight climate change and smog
in Canada;
• $920 million over the next 15 years, quadrupling
the Wind Power Production Incentive;
• An estimated $295 million in enhanced
tax incentives through accelerated Capital
Cost Allowance to encourage investment in
efficient, renewable energy generation;
• $250 million over five years for a partnership
fund to support large-scale, strategic green
infrastructure investments on priorities
jointly agreed to by the Government of Canada
and provinces and territories.
• $200 million to support a new Sustainable
Energy Science and Technology Strategy;
and
• $97 million over the next five years for
a new Renewable Power Production Incentive.
“By investing $5 billion for the environment
over five years, Budget 2005 is the greenest
budget Canada has ever seen” said Minister
Dion. “The budget’s environmental initiatives
will lead to a cleaner, healthier environment
while supporting a competitive economy.”
"The budget demonstrates that smart
economic policy and smart environmental
policy go hand-in-hand," said Minister
Goodale. "It introduces new market
mechanisms, tax measures and incentives
for business to spur innovation in Canada.
We will build a globally-competitive, green,
sustainable economy."
“Budget 2005 takes an important step in
long-term collaboration between the Government
of Canada and the Canadian environmental
technology sector,” said Minister Emerson.
“In all, Budget 2005 invests an additional
$1.75 billion to support environmental technologies
over the next five years to further develop
Canada’s competitiveness in a global market
poised for exponential growth.”
“ Budget 2005 responds directly to the recommendations
made following the 2003 forum with Western
Canadian environmental technology leaders
that I hosted with Prime Minister Paul Martin,”
said Minister Owen. “Leaders recommended
strengthening our regulatory regime, improving
financing mechanisms and expanding our demonstration
project capacity and Budget 2005 responds
on all fronts.”
