PrairiesCan Minister Daniel Vandal Highlights Budget 2022 Support for Clean Air and a Strong Economy

A Plan to Grow Our Economy and Make Life More Affordable

April 11, 2022 – Winnipeg, Manitoba – PrairiesCan

Protecting our environment and fighting climate change is the right thing to do for the planet, and it is the right thing to do for our economy. Through Budget 2022, the government will help Canadians and Canadian businesses benefit from the global transition to a clean economy, through new incentives for the development of clean technologies and carbon capture, utilization, and storage.

Today, the Honourable Daniel Vandal, Minister for PrairiesCan, highlighted targeted and responsible investments in Budget 2022 to create jobs and prosperity for today, and build a stronger economic future for all Canadians. Speaking at Winnipeg’s Red River College Polytechnic, Minister Vandal outlined investments to protect our land, lakes, and oceans, as well as new measures the government will introduce to make it more affordable for Canadians to purchase zero-emission vehicles, build and expand a national network of zero-emission vehicle charging stations, and make new investments in clean energy.

Budget 2022 measures include:

• establishing the new Canada Growth Fund to attract private sector investments, help businesses reduce emissions, diversify our economy and bolster exports by investing in the growth of low-carbon industries and new technologies across new and traditional sectors. Initially capitalized at $15 billion over five years, the Canada Growth Fund will target three dollars of private capital for every one dollar invested.
• extending the Incentives for Zero-Emission Vehicles program until March 2025 with a $1.7 billion investment. This will give more Canadians the opportunity to get behind the wheel of an electric zero emission vehicle, and reduce greenhouse gas emissions from transportation, which accounts for 20 per cent of our overall total.
• creating a new Zero-Emission Vehicles incentive program for small and medium-sized businesses, so they too can upgrade their fleet of medium-and heavy-duty vehicles to Zero-Emissions. This program will provide $547.5 million over four years to Canadian businesses. 
• proposing a new Carbon Capture, Utilization, and Storage (CCUS) refundable investment tax credit. The investment tax credit would be available to projects that permanently store captured CO2 through an eligible use. This will help businesses to adopt CCUS technologies.