Marc Serré shares plan to cut taxes for clean businesses

Marc Serré shares plan to cut taxes for clean businesses

October 11, 2019

NICKEL BELT – GREATER SUDBURY- A re-elected Liberal government will cut taxes in half for companies that produce zero emissions technologies, which will create jobs, grow Canadian businesses, and help us achieve net-zero emissions target.

In the coming years, the market for clean technology, which uses renewable energy and emits less pollution, is expected to exceed $2.5 trillion by 2022. Canada will lead the way: to protect the air we breathe and the water we drink and to achieve the ambitious goal of reaching net-zero emissions by 2050.

“We have the talent, we have the vision and we have incredible local small and medium sized enterprises already working hard on green technology,” said Marc Serré, the Liberal candidate for the riding of Nickel Belt. “We see how innovative our mining sector is here in Nickel Belt – Greater Sudbury and we know the potential for growth is huge. Our government has always been very supportive of clean innovation and has supported enterprises like NORCAT with nearly $700,000 in funding to help them boost new projects that drive economic development and has supported projects that have helped propel our region into a green future. We are fortunate to live in Nickel Belt-Greater Sudbury where we can enjoy the great outdoors and we want to protect it while still growing our economy.” Marc adds.

A re-elected Liberal government will make Canada an even more attractive place to start — and grow — a business that produces zero emissions technology. The Liberals will:

  • Cut in half corporate taxes for companies that develop technologies or manufacture products that have zero emissions;
    • The corporate taxes for small cleantech businesses will be cut from 9 per cent to 4.5 per cent, and the larger cleantech companies will see their taxes drop from 15 percent to 7.5 per cent.
  • Continue to lead by example and ensure all federal buildings run on clean electricity by 2022; and
  • Leverage the purchasing power of the federal government to further drive clean technology adoption, by strengthening existing green procurement policies.

This builds on a strong Liberal record of encouraging businesses to invest in sustainability and create hundreds and thousands of jobs, including:

  • Allowing businesses to immediately write-off the full cost of installing clean energy equipment; and
  • Investing in the first ever completely electric mine, as well as the first zero-emissions aluminum smelter.

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BACKGROUNDER Cutting taxes for clean tech businesses

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