Minister Boissonnault highlights budget investments to create good middle class jobs and build Canada’s 21^st century clean economy

April 5, 2023 - Edmonton, Alberta - Department of Finance Canada

Today in Edmonton, the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance, met with workers at Lehigh Cement, to highlight Budget 2023’s investments toward creating good middle class jobs and in particular the new clean investment tax credits.

Canada has made a remarkable recovery from the COVID recession. Canada’s economic growth was the strongest in the G7 over the last year, and today, 830,000 more Canadians are employed than before the pandemic, including 128,600 in Alberta. Inflation in Canada has fallen for eight months in a row, our unemployment rate is near its record low, and, supported by our Canada-wide system of affordable early learning and child care, the labour force participation rate for women aged 25 to 54 reached a record high of 85.7 per cent in February.

Budget 2023 builds on this important progress.

To build Canada’s clean economy, the budget makes transformative investments to fight climate change and create new opportunities for Canadian businesses and workers. This includes significant measures that will deliver cleaner and more affordable energy, support investment in our communities, and create good careers.

In particular, Budget 2023 proposes a set of clear and predictable investment tax credits, with many of these new credits to be accompanied by provisions to ensure that workers see the benefits of a clean economy. Building on the design details announced last year, Budget 2023 proposes an enhancement to the Investment Tax Credit for Carbon Capture, Utilization, and Storage, with includes the coverage of additional equipment. This will be an important tool for reducing emissions in high-emitting sectors and industrial processes while helping to create good careers.

By making these significant investments, Budget 2023 is ensuring a clean Canadian economy can deliver prosperity, middle class jobs, and more vibrant communities across Canada.