Debate Over Carbon Capture Tax Credits, as PBO Estimates They Could Cost $1 Billion More Than Estimated
A new report by the Parliamentary Budget Officer (PBO) says the federal government’s tax credit encouraging companies to invest in carbon capture technology will likely cost more than Ottawa estimated.
The PBO’s Feb. 1 report estimates the cost of the investment tax credit for carbon capture, utilization, and storage (CCUS) at $5.7 billion for the six years from 2022–23 to 2027–28.
A second PBO report released on the same day, which examined a separate federal tax credit, for investments in clean hydrogen, estimates that it would reduce federal revenues by $5.7 billion over five years, from 2023–24 to 2027–28.
Lumped together, the two investment tax credits could cost more than $11 billion—roughly a billion more than what Ottawa estimated.
One environmental group points out that they could end up costing even more.
“These tax credits are being designed without a ceiling,” said the group Environmental Defence in a Feb. 1 statement. “That means the final cost for Canadian taxpayers could end up being much, much greater.”
Canada Has Gone Woke and It's About to Go Broke...
Not just Climate Alarmism and Gender Nonsense anymore.In a nation once defined by hard work, innovation, and shared prosperity, Canada is sleepwalking into fiscal and social ruin under the banner of performative “reconciliation.” We’ve seen the warning signs globally: companies like Bud Light hemorrhaging $1.4 billion in sales after its ill-fated Dylan Mulvaney campaign alienated core customers; Jaguar’s cringeworthy 2024 rebrand pushing electric cars and “inclusivity” that bombed so hard it was scrapped amid plummeting stock; Harley-Davidson retreating from DEI mandates after backlash from riders who just wanted motorcycles, not lectures. These weren’t isolated fumbles, they were self-inflicted wounds from chasing social justice optics at the expense of reality. Now, Canada is the latest casualty, with “woke” poli...
https://sheldonyakiwchuk.substack.com/p/canada-has-gone-woke-and-its-about
Rebel News is heading to Brazil to expose the UN’s climate hypocrisy!
As 50,000+ bureaucrats, lobbyists and politicians jet into Belém to tell you to “cut back,” we’re sending Sheila Gunn Reid and Kian Simone to show the luxury, the VIP perks — and Canada’s role — that the UN doesn’t want you to see.
https://www.rebelnews.com/rebel_news_is_heading_to_brazil_to_expose_the_uns_climate_hypocrisy
