February 28, 2005 BURNABY, British Columbia -- Budget 2005's environmental investments and benefits were highlighted before one of the world's leading environmental technology clusters today. Stéphane Dion, Minister of the Environment; Ralph Goodale, Minister of Finance; David L. Emerson, Minister of Industry; and Stephen Owen, Minister of Western Economic Diversification Canada and Minister of State (Sport) spoke today in Burnaby at the headquarters of Xantrex Inc, a leading power technology company. The Ministers highlighted the following Budget 2005 investments: $5 billion in gas tax revenues shared with municipalities through the New Deal for Cities and Communities - at least half of which will be invested in green infrastructure projects, with $635 million going to British Columbia; $1 billion for the new Clean Fund, to further stimulate cost effective technology solutions to fight climate change and smog in Canada; $920 million over the next 15 years, quadrupling the Wind Power Production Incentive; An estimated $295 million in enhanced tax incentives through accelerated Capital Cost Allowance to encourage investment in efficient, renewable energy generation; $250 million over five years for a partnership fund to support large- scale, strategic green infrastructure investments on priorities jointly agreed to by the Government of Canada and provinces and territories. $200 million to support a new Sustainable Energy Science and Technology Strategy; and $97 million over the next five years for a new Renewable Power Production Incentive. "By investing $5 billion for the environment over five years, Budget 2005 is the greenest budget Canada has ever seen" said Minister Dion. "The budget's environmental initiatives will lead to a cleaner, healthier environment while supporting a competitive economy." "The budget demonstrates that smart economic policy and smart environmental policy go hand-in-hand," said Minister Goodale. "It introduces new market mechanisms, tax measures and incentives for business to spur innovation in Canada. We will build a globally-competitive, green, sustainable economy." "Budget 2005 takes an important step in long-term collaboration between the Government of Canada and the Canadian environmental technology sector," said Minister Emerson. "In all, Budget 2005 invests an additional $1.75 billion to support environmental technologies over the next five years to further develop Canada's competitiveness in a global market poised for exponential growth." "Budget 2005 responds directly to the recommendations made following the 2003 forum with Western Canadian environmental technology leaders that I hosted with Prime Minister Paul Martin," said Minister Owen. "Leaders recommended strengthening our regulatory regime, improving financing mechanisms and expanding our demonstration project capacity and Budget 2005 responds on all fronts." - 30 - For further information: André Lamarre Minister Dion's Office (819) 997-1441 Stephanie Leblanc Minister Emerson's Office (613) 995-9001 Pat Breton Minister Goodale's Office (613) 996-3225 Renée Gillen Minister Owen's Office (613) 954-1110
