On June 26, 2024, Shell announced its final investment decisions to proceed with two new projects: Polaris Carbon Capture and Atlas Carbon Storage Hub. The Polaris project, located at the company’s Scotford refinery and chemicals project, is one of the most efficient and modern facilities of its kind in North America. Polaris will create up to 2,000 good jobs and will capture approximately 650,000 tonnes of CO2 annually. In turn, the Atlas project, which was announced in partnership with ATCO EnPower, will permanently store underground the carbon captured from Polaris.
Today, as part of consultations to advance key budget priorities, the federal government announced new enhancements to the Canadian Entrepreneurs’ Incentive, to ensure innovators and small business owners, including farmers, are rewarded for their hard work.
Today, the federal government is moving forward with consultations to advance key budget priorities to build more homes, boost economic growth, improve tax fairness, and ensure Canada’s financial sector works for all Canadians.
This week, from July 24 to 26, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will attend meetings of G7 and G20 Finance Ministers and Central Bank Governors in Rio de Janeiro, Brazil.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, visited Markham District Energy—the city’s public energy utility and Canada’s fastest growing energy utility—to highlight how federal investments are expanding Markham’s affordable, low-carbon energy network to more residents and businesses.
Today, the Department of Finance launched consultations on the Budget 2024 commitment to establish an opt-in framework for interested Indigenous governments to impose their own Fuel, Alcohol, Cannabis, Tobacco, and Vaping (FACT) value-added sales taxes. Expanding opt-in tax jurisdiction would enable Indigenous governments to better exercise their tax jurisdiction with more flexibility.
The Canada Growth Fund and Strathcona Resources—Canada’s fifth-largest oil producer—have agreed to invest up to $2 billion combined to build carbon capture and sequestration infrastructure on Strathcona’s steam-assisted, gravity drainage oil sands facilities in Saskatchewan and Alberta.
