Feds place spotlight on clean tech, youth jobs in Fall Economic Update

The federal government put a spotlight on its plans to improve investment in sustainable energy in its Fall Economic Statement on Thursday.

Finance officials said with the United States recently introducing the Inflation Reduction Act, “the need for a competitive clean technology tax credit in Canada is more important than ever.”

The Fall Economic Statement proposed a refundable tax credit for clean technologies and hydrogen production.

The technology-focused credit would be “equal to 30 per cent of the capital cost of investments” for a range of clean electricity generation systems and equipment.