Latest news with #OTTAWA
Edmonton Journal
5 days ago
- Politics
- Edmonton Journal
In Quebec, opposition mounts against a pipeline project that doesn't exist
Article content OTTAWA — At Quebec's National Assembly and on Parliament Hill in Ottawa, pipelines have dominated the debates. The only issue? No projects involving the province are on the agenda. 'I think there is a fixation on pipelines on (Prime Minister Mark) Carney's part at the moment, not on the part of Quebecers,' said Bloc Québécois MP and former Greenpeace activist Patrick Bonin.
Yahoo
19-03-2025
- Business
- Yahoo
Energy CEOs to Canadian leaders: An urgent plan to strengthen economic sovereignty
Build Canada Now CEOs representing Canada's energy industry released a letter to Canadian federal political leaders outlining an urgent action plan to strengthen Canadian economic sovereignty, through our energy industry. The open letter calls for a rapid, dramatic regulatory restructuring to enable investment in critical oil and natural gas infrastructure across Canada. OTTAWA, Ontario, March 19, 2025 (GLOBE NEWSWIRE) -- This morning, an open letter from 14 CEOs representing the four largest pipeline companies and 10 largest oil and natural gas companies was delivered to Canada's political party leaders. This is in answer to inquiries on how Canada can respond to escalating global energy security challenges and the urgent need for pragmatic energy strategies. To read the full letter and view the signatories, please visit: Build Canada Now 'It's time for Canadians to claim our economic sovereignty. In recent months, each of us have been asked what needs to happen to ensure Canada has control over its economic destiny, and what we can do to make sure we have full access to global markets and trade. We are saying it's time to roll up our sleeves as a country, and build needed energy structure,' says Adam Waterous, Executive Chairman, Strathcona Resources Ltd. 'Canadians now recognize the need for us to grow our energy sector and build energy infrastructure, including new oil and natural gas pipelines, and Liquefied Natural Gas (LNG) export terminals. They want a country-wide push to champion our products and pipelines, and to unleash the potential of our natural resources. Everyone wants our country to continue to prosper and our export-focused economy to grow,' he adds. Canada has vast reserves of oil and natural gas, and credible forecasts predict they will remain amongst the world's largest sources of energy for decades to come. Canada can provide for its own domestic needs, while also exporting around the world. The country can be a leader in global energy security by being a provider of affordable, lower emission, democratically and responsibly produced energy. Canada can compete against any major global energy producer. 'Realizing Canada's opportunity will take collaboration between industry, government and Canadians. Today, the federal government does not have the right policies, or the regulatory framework to support oil and natural gas investment. Delays in permitting processes for critical infrastructure often results in billions in lost economic opportunities for Canadians. It's time for change. These are barriers we have imposed on ourselves that need to be removed, now,' says François Poirier, President and Chief Executive Officer, TC Energy. An action plan for Canadian leaders The letter outlines a clear plan with five calls for action. For the oil and natural gas sector to expand and for energy infrastructure to be built, Canada's federal political leaders need to: Simplify regulation. The federal government's Impact Assessment Act and West Coast tanker ban are impeding development and need to be overhauled and simplified. Regulatory processes need to be streamlined, and decisions need to withstand judicial challenges. Commit to firm deadlines for project approvals. The federal government needs to reduce regulatory timelines so that major projects are approved within 6 months of application. Grow production. The federal government's unlegislated cap on emissions must be eliminated to allow the sector to reach its full potential. Attract investment. The federal carbon levy on large emitters is not globally cost competitive and should be repealed to allow provincial governments to set more suitable carbon regulations. Incent Indigenous co-investment opportunities. The federal government needs to provide Indigenous loan guarantees at scale so industry may create infrastructure ownership opportunities to increase prosperity for communities and to ensure that Indigenous communities benefit from development. All CEO signatories of the letter are ready and willing to engage so that energy projects move forward promptly, and construction of critical infrastructure can begin for the benefit of Canada and all Canadians. -30- Media Inquiries:Media Relationsmedia@ 403-920-7859 or 800-608-7859 A photo accompanying this announcement is available at: PDF available:
Yahoo
08-02-2025
- Business
- Yahoo
Small businesses still being taxed on carbon rebates, federation says
OTTAWA — Small businesses across Canada are still being taxed on their carbon tax rebates despite a commitment from the former finance minister that they would be tax-free, says the Canadian Federation of Independent Business (CFIB). The business group says it has been informed by the Canada Revenue Agency that the rebate is considered government assistance to taxpayers and that it's subject to income tax. The federation says the CRA also told it that former finance minister Chrystia Freeland's announcement last year that the rebate will be tax free, and the fall economic statement that made a similar commitment, "were not accompanied by proposed legislative amendments." The prorogation of Parliament is not making the situation any easier, says CFIB president and CEO Dan Kelly, as only new legislation presented in Parliament can override this decision. "It's just the most unhelpful time to provide even more tax uncertainty at a time when businesses are scrambling to deal with the potential tariff issue, and so that makes this doubly bad," Kelly said. Businesses had finally received clarity on the capital gains front, with the inclusion rate increase being pushed back, only to have confusion about the carbon tax rebate come up after five years of waiting for it to kick in, said Kelly. "It really has eroded a lot of trust over the carbon tax," said Kelly, who previously told The Canadian Press that 83 per cent of the group's 97,000 members want the carbon price to be repealed. The Canada carbon rebate for small businesses was a measure introduced in Budget 2024, in which $2.5 billion of carbon price revenue would be paid back to some 600,000 small- and medium-sized businesses. In October, the finance department said the government planned to return a portion of the fuel charge proceeds from 2019-20 through 2023-24 to businesses by the end of the year. After confusion over whether or not the rebate would be taxed and years of delays, the CFIB says rebates were paid in December. "The consumers had their rebate as soon as the carbon tax went into place in 2019 but it took Ottawa five straight years to figure out how to rebate these dollars back to the businesses that they had promised them to," Kelly said. "Even now, after the checks have been sent out, it is taxable according to the CRA, government will have to retroactively change legislation if they want to remove the tax from this." The CFIB, Canada's largest association of small and medium-sized businesses, is calling for Parliament to be reconvened to pass legislation to make the rebate tax free. It also wants the government to freeze a 19 per cent increase in the carbon tax planned for April 1 and return the small business rebate formula to nine per cent of total revenue as long as the carbon tax is in place. Kelly said a major concern is that businesses don't know the rules around the rebate. "There are businesses that will be filing their income taxes incorrectly right now because they've received this carbon tax rebate and the only official word from government is that it's tax free, but CRA has confirmed to us in writing that it's not tax free unless the government changes the rules," Kelly said. "The tax impact could be significant when you add federal and provincial corporate income taxes to this amount." "If the government is collecting corporate income tax on the carbon tax rebate checks, well then it's hardly revenue neutral," he said. The Canadian Press has requested comment from the CRA and the office of Minister of Finance and Intergovernmental Affairs Dominic LeBlanc. - With files from Nick Murray. This report by The Canadian Press was first published Feb. 8, 2025. Catherine Morrison, The Canadian Press Sign in to access your portfolio
