The 2023 federal budget promises an ambitious national electricity plan to provide net-zero power from coast to coast to coast.
The budget document notes that Canada’s electricity demand is expected to double by 2050. Meeting that demand, the budget says, will require “massive investments” to ensure provincial and territorial electricity grids can support neighbourhoods where every garage might soon have an electric vehicle, and can supply energy-intensive industries like steel manufacturing as they switch from fossil fuels to electricity.
To unleash those investments, Finance Minister Chrystia Freeland’s fiscal plan offers a clean electricity investment tax credit worth $6.3 billion over four years, along with billions of dollars more for a suite of other tax credits and measures.
The Liberal Government lives in a virtue signaling dream world that unfortunately translates as our nightmare reality.
