Minister Beech Highlights Clean Economy Initiatives in Edmonton
News release
November 27, 2023 Edmonton, Alberta Employment and Social Development Canada
Today, the Honourable Terry Beech, Minister of Citizens' Services, met with groups in Edmonton to discuss how the government’s economic plan will build a robust, clean economy, as part of the 2023 Fall Economic Statement.
The government’s economic plan is building a strong economy that works for everyone—with good jobs that people can count on. This plan is evidenced by the significant progress in clean economy projects. Over the past three years, more than 90 clean growth projects valued at over $40 billion are underway, attracting investments and creating jobs.
In response to global economic challenges, the 2023 Fall Economic Statement is focused on supporting Canadians and fostering economic growth through clean initiatives. This includes introducing clean economy investment tax credits for industries such as carbon capture and clean technology, and broadening the eligibility for investment tax credits to encompass systems that generate electricity or heat from waste biomass.
With more than $1 trillion in private capital available for investment, Canada is well-equipped with critical resources, including minerals, innovative research, and a skilled workforce. The clean economy jobs plan, detailed in the 2023 Fall Economic Statement, aims to leverage these competitive advantages to attract investment and create jobs across the country.
The 2023 Fall Economic Statement also proposes expanding eligibility for the Clean Technology and Clean Electricity Investment Tax Credits to support using waste biomass to generate heat and electricity.
The Government of Canada is committed to working alongside a broad range of partners to build an economy that is strong, sustainable, and beneficial for every Canadian.
Quotes
“Canada's commitment to a clean economy is more than an environmental imperative – it's an economic opportunity. Our focus on clean growth, as shown in the 2023 Fall Economic Statement, will lead to innovative solutions, new industries, and thousands of jobs. We're not just securing a cleaner environment, but also a prosperous, inclusive future for Canadians."
- The Honourable Terry Beech, Minister of Citizens’ Services
“Our economic plan is about building a strong economy that works for everyone, and this Fall Economic Statement is the next phase of our plan. With a focus on supporting the middle class and building more homes, faster, we are taking action on the priorities that matter most to Canadians today—and we will continue doing everything we can to deliver for Canadians from coast to coast to coast.”
- The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
Quick facts
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New measures in the 2023 Fall Economic Statement are built upon the government’s responsible economic plan, which sees Canada maintain both the lowest deficit- and net debt-to-GDP ratios in the G7.
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Canada’s economic plan is working:
- Canada’s unemployment rate, for the last 21 months, has been lower than at any time under the previous government. Over a million more Canadians are employed today compared to before the pandemic.
- Wages have outpaced inflation for the past nine months.
- The International Monetary Fund projects Canada to see the strongest economic growth in the G7 next year.
- According to the OECD, in the first half of this year, Canada received the third-most foreign direct investment of any country in the world—and the highest per capita in the G7.
Associated links
Contacts
For media enquiries, please contact:
Erik Nosaluk
Director of Communications
Office of the Minister of Citizens’ Services, Terry Beech
erik.nosaluk@hrsdc-rhdcc.gc.ca
Media Relations Office
Employment and Social Development Canada
819-994-5559
media@hrsdc-rhdcc.gc.ca
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