CAPP 2016 Federal Pre-Budget Submission

Our industry is experiencing the most challenging period since we started data collection in 1947. There are the regular ebbs and flows of the market; there are even larger disruptions. And then there’s where we are now.
Official submission

Published: March 18, 2016

We support the government’s intention to invest in Canada and Canadians; investments that will stimulate our economy and create growth that benefits all. 

Our industry has been open and transparent about our asks: 

  • We want our resources to be able to get to diverse markets
  • We want more people working in & related to our industry
  • We want the Canadian-grown innovations to be our calling card
Progress on each of these items alone will not solve all of our industry’s ills. Indeed, we have much to account for on our own. But they would go a long way in ensuring our industry – a cornerstone of the Canadian economy – is given the chance to adapt, grow and lead.

Recommendations:

  • That the federal government launch a new Federal-Provincial Natural Resources Market Access Strategy that prioritizes/ advances infrastructure investments along existing and proposed major natural resources transportation corridors to access new markets.
  • That the federal government partner with provinces to prioritize investing in clean infrastructure and develop stronger partnerships between the government and the oil and natural gas industry for clean technology research. That the federal government launch a strategic natural resource training and infrastructure fund to support Indigenous participation in the natural resources economy.
  • That the federal government create a municipal-industry partnership funding program that grows and rewards collaboration between industry and municipalities in the provision of mutually demanded infrastructure.
  • That the federal government remove barriers to enable skilled labour to fully participate in infrastructure projects nationwide.
  • That the federal government explore opportunities to grow private sector investment through the creation of government sponsored investment funds to support technology, innovation and enhanced environmental performance in Canada’s natural resource sectors. 
  • That the federal government continue to explore opportunities to enable early stage investment in the mining, oil and gas and clean energy sectors through the use of flow through shares.
  • That the federal government continue to explore opportunities to enable Canada’s innovation sectors to attract and retain talent through tools such as the tax treatment of employee stock options. 
  • That the federal government continue to explore opportunities to re-calibrate and enhance Canada’s upstream oil and gas and tax framework, to ensure it remains current, internationally competitive and achieves government priorities. 
  • That the federal government reform the large corporation tax collection and appeals framework to expedite the appeals process and return working capital back to companies so that it can be reinvested in the Canadian economy and create jobs. 
  • That the federal government extend the equivalent ITC benefits that are available to CCPCs under SR&ED to all publicly traded corporations. 
  • That the federal government eliminate import duties on specialized world asset vessels that provide support and services to Canada’s offshore oil and gas industry. 

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