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CAPP Statement: 2023 Federal Budget

Calgary, Alberta (Mar 28, 2023)

“Today’s budget acknowledges the need to act and recognizes more measures were required to compete globally for clean technology investments. Industry and governments need to continue to work together at all levels to ensure that large clean technology and energy decarbonization projects get built here in Canada. We are continuing to review the programs announced in the federal budget to determine if they will help Canada compete on the world stage. CAPP will look forward to more detail on the plan regarding carbon contracts for differences and is encouraged to see the federal government’s recognition of the need to streamline the regulatory process for major projects as well as additional details for the Investment Tax Credit for CCUS. The path to a lower emission economy can only be done by aligning environment, energy and economic policies to attract investment and accelerate the permitting process for large scale decarbonization projects like carbon capture and electrification.”

– Lisa Baiton, CAPP President & CEO