Minister O’Regan highlights budget investments to create good-paying jobs and build Canada’s 21st-century clean economy

April 4, 2023              St. Catharines, Ontario              Employment and Social Development Canada

Today, Minister of Labour Seamus O’Regan Jr. will be in Ontario to highlight Budget 2023 investments to fight climate change and create new opportunities for Canadian businesses and the workers of today and tomorrow.

The Minister will visit Niagara College’s Welland Campus, where he’ll be joined by members of Parliament Chris Bittle and Vance Badawey, and President of Niagara College, Sean Kennedy, for a tour of the campus with trade students and apprentices. The Minister will highlight Budget 2023 investments in the skilled trades. Later today, the Minister, along with MPs Bittle and Badawey, will take part in a roundtable discussion with Service Employees International Union members at their union town hall, followed by a discussion at the Greater Niagara Chamber of Commerce.

Budget 2023 will help ensure fair pay and apprenticeships for workers who build the clean economy. Following consultations with unions and other stakeholders, the Budget announces additional details on the labour requirements for the clean technology and clean hydrogen investment tax credits. To be eligible for the highest tax credit rates, businesses must pay workers the prevailing wage. Additionally, at least 10% of the tradesperson hours worked must be performed by registered apprentices in the Red Seal trades. Budget 2023 proposes these labour requirements be met in order to receive the full clean electricity tax credit, and announces the Government’s intent to apply labour requirements to the investment tax credit for carbon capture, utilization, and storage. These requirements will come into effect on October 1, 2023, following additional consultations with labour unions and other stakeholders.

The higher cost of living means that students still need support to afford an education and pursue their dreams. As of April 1, 2023, Canada Student Loans and Canada Apprentice Loans, including those currently being repaid, became permanently interest-free. New enhancements proposed in Budget 2023 will allow students to access up to $14,400 in federal support for the upcoming school year—an increase of $1,260.

By making significant investments to support Canadians and ensure Canada does not fall behind at this moment of profound global economic upheaval—and opportunity—Budget 2023 is ensuring a clean Canadian economy can deliver prosperity, middle-class jobs and more vibrant communities across Canada.