Canada's Budget 2023: Prioritizing Clean Tech and Economic Recovery.

Canada's 2023-2024 fiscal budget aims to attract investment in the low-carbon economy, including tax incentives for electric-vehicle manufacturers and expanding the electricity grid. The budget also includes a "grocery rebate" for 11 million low-income Canadians, an expansion of dental care to households, and investments in healthcare. The United States passed massive uncapped incentives for clean energy investments in the Inflation Reduction Act (IRA) last year, putting pressure on Canada to level the playing field with its largest trade partner. The budget introduces a series of new investment tax credits for capital expenditure worth an estimated C$35 billion, including a tax credit that covers 15% of the cost of equipment used to produce and transmit clean electricity.