Minister Fraser Emphasizes Clean Investment Tax Credits in Budget 2023
From: Immigration, Refugees and Citizenship Canada
Introduction to Budget 2023’s Clean Economy Initiatives
On April 4, 2023, the Honourable Sean Fraser, Minister of Immigration, Citizenship and Refugees, visited Ionic Mechatronics in Lively, Ontario. His visit underscored the significance of clean investment tax credits outlined in Budget 2023. These credits are pivotal to advancing Canada’s clean economy.
Since 2015, the Canadian government has been laying the groundwork for a greener future. Budget 2023 introduces major investments to ensure Canada’s clean economy thrives, creating prosperity and middle-class jobs. This approach is structured around three main components:
- Investment tax credits with benefits for workers
- Low-cost strategic financing
- Targeted investments to meet specific sector needs
These measures aim to reduce emissions, position Canada as a leader in the global clean economy, and generate new opportunities for Canadians.
Impact and Objectives of Budget 2023
Budget 2023 is built on a responsible fiscal strategy, maintaining Canada’s status with the lowest deficit and net debt-to-GDP ratio among the G7 nations. It aims to create a more secure, sustainable, and affordable nation.
“Our government is committed to ensuring Canada’s economy remains competitive and sustainable for generations to come. Our focus on clean electricity, global supply chains and investment tax credits will attract new investment, create well-paying jobs, and help build Canada’s clean economy. With these investments in Budget 2023, we will become a reliable supplier of goods and resources that a net-zero world needs in Ontario and across Canada.”
– The Honourable Sean Fraser, Minister of Immigration, Refugees and Citizenship
Related Resources
- Budget 2023: A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future
- Budget 2023: Remarks by the Deputy Prime Minister and Minister of Finance
- Backgrounder: Stronger Public Health Care
- Backgrounder: Making Life More Affordable
- Backgrounder: An Affordable Place to Call Home
- Backgrounder: A Made-in-Canada Plan: Affordable Energy, Good Jobs, and a Growing Clean Economy
- Backgrounder: Advancing Reconciliation
- Backgrounder: Stronger and More Inclusive Communities
- Backgrounder: Improving Services for Canadians
Contact Information
Bahoz Dara Aziz
Press Secretary
Minister’s Office
Immigration, Refugees and Citizenship Canada
Bahoz.DaraAziz@cic.gc.ca
Media Relations
Communications Branch
Immigration, Refugees and Citizenship Canada
613-952-1650
media@cic.gc.ca
FAQs
What are the key components of Budget 2023’s clean economy focus?
Budget 2023 focuses on investment tax credits, low-cost strategic financing, and targeted sector investments.
How will the budget impact Canada’s economic position globally?
It aims to make Canada a leader in the global clean economy, attracting investments and creating jobs.
Who benefits from the investment tax credits?
These credits are designed to ensure that workers benefit, encouraging emission reductions and job creation.
To explore further details, Read our immigration guide.
For more information on the broader implications of these strategies, please refer to the official Budget 2023 documentation.
