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Toronto Sun
28 minutes ago
- Toronto Sun
Federal green subsidy program not expected to come close to reaching goals
The Low Carbon Economy Fund was meant to support projects that reduce greenhouse gas emissions and create green jobs Liberal and Conservative governments have been setting and failing to meet emission reduction targets since 1988. Photo by iStock / GETTY IMAGES Despite twice moving the goalposts, a pricey green subsidy program won't come close to meeting its targets, says an internal report. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The internal Department of Environment report evaluating the Low Carbon Economy Fund — a 2016 government program meant to support projects that reduce greenhouse gas emissions and create green jobs — concluded the program wasn't living up to potential, reports Blacklock's Reporter. 'Higher than expected project delays, cancellations and withdrawals impacted the program's ability to meet established greenhouse gas reduction targets within planned timelines,' reads an excerpt from the report. 'A robust uncertainty analysis could help to ensure that at least some of these challenges are integrated into the analysis used to estimate a project's emission reduction. ' The program was granted a $2 billion budget upon its 2016 launch before it was expanded to $2.2 billion — but delays, cancellations and the continued failure of its projects saw those funds slashed to just $820 million. The program had aimed to cut emissions by 10 million tonnes by 2030, but that goal was lowered to 7 million tonnes and later 3.9 million tonnes. Job creation targets were likewise lowered from 115,200 by 2030, to just 34,500 jobs. Columnists Columnists Canada World Television
CTV News
28 minutes ago
- CTV News
Carney, Trump talk ‘new' trade and security relationship
Canada's Prime Minister Mark Carney, listens as President Donald Trump speaks during a group photo at the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada. (AP Photo/Mark Schiefelbein) Prime Minister Mark Carney and U.S. President Donald Trump had a 'productive and wide-ranging conversation' Thursday, according to a readout from the Prime Minister's Office. The two discussed trade and 'a new economic and security relationship.' More details to come.
CBC
29 minutes ago
- CBC
Ontario sheds manufacturing jobs as tariff impacts surface, report says
Social Sharing Ontario's economy has recently started to feel the impact of American tariffs, shedding 38,000 jobs in the second quarter of 2025, the province's financial watchdog said Thursday in a report. Financial accountability officer Jeffrey Novak said hits to employment in that timeframe include the early impacts of the tariffs, as well as broad economic factors. "The latest economic indicators suggest mostly negative results for Ontario's economy in 2025 Q2, with losses in employment, manufacturing sales, wholesale and retail trade, and international exports," Novak wrote. Most of the losses were felt in the manufacturing sector, which was down 29,400 jobs. That drop of 3.5 per cent was the sharpest quarterly job loss in the sector since 2009, except for the COVID-19 pandemic. "After a strong 3.1 per cent gain in 2025 Q1, manufacturing employment fell by -3.5 per cent in 2025 Q2 as newly imposed U.S. tariffs on exports began to weigh on the sector," Novak wrote. The loss of 56,600 full-time jobs was partly offset by 18,700 added part-time jobs. The unemployment rate rose for a ninth consecutive quarter, up to 7.8 per cent — the highest rate since late 2012, excluding the pandemic. WATCH | Report shows how U.S. tariffs could impact Ontario jobs: Novak said the effects of tariffs are being particularly felt in Windsor, which has a large manufacturing base, and its unemployment rate rose 1.9 percentage points in the second quarter to 11.2 per cent, the highest in the province. Liberal finance critic Stephanie Bowman said in a statement that the FAO report shows the government is steering the province in the wrong direction. "Never has a government spent so much to deliver so little," she wrote. "Working families are struggling, we are building housing at the slowest rate in a decade, and many of the businesses impacted by tariffs are not eligible for help from the province." Earlier this month, the government opened up a $1-billion fund aimed at giving relief to businesses affected by steel, aluminum and auto tariffs. The Protect Ontario Financing Program is part of a $5-billion tariff-related support package the provincial government announced in its spring budget. The loan program is designed to help businesses make payroll, lease and utility payments and avoid closures and layoffs. For businesses to qualify they have to be affected by certain tariffs, have a minimum of 10 employees and a minimum of $2 million in annual revenue, and have already exhausted federal tariff support programs. The NDP says the provincial government isn't doing enough to protect jobs. "We're watching key sectors like trade and manufacturing deteriorate, while workers are left without security," Catherine Fife, the NDP's critic for economic development, jobs and trade, wrote in a statement.
