Liberals move forward to cut taxes for clean businesses

September 24, 2019

Burnaby, BC — A re-elected Liberal government will cut taxes in half for companies that produce zero emissions technologies, which will create jobs, grow Canadian businesses, and help us get to net-zero.

In the coming years, the market for clean technology — which uses renewable energy and emits less pollution — is expected to exceed $2.5 trillion by 2022. Canada will lead the way: to protect the air we breathe and the water we drink, and to achieve the ambitious goal of reaching net-zero emissions by 2050.

“It’s time to be a part of the solution,” said the Leader of the Liberal Party of Canada, Justin Trudeau. “We have the talent, we have the vision, and we have the reputation of being the best place in the world to start and grow a zero emissions tech business.”

A re-elected Liberal government will make Canada the most attractive place to start — and grow — a business that produces zero emissions technology. We will:

  • Cut in half corporate taxes for companies that develop technologies or manufacture products that have zero emissions;
  • The corporate taxes for small cleantech businesses will be cut from 9 per cent to 4.5 per cent, and the larger cleantech companies will see their taxes drop from 15 percent to 7.5 per cent.
  • Continue to lead by example and ensure all federal buildings run on clean electricity by 2022; and
  • Leverage the purchasing power of the federal government to further drive clean technology adoption, by strengthening existing green procurement policies.

This builds on a strong Liberal record of encouraging businesses to invest in sustainability and create hundreds and thousands of jobs, including:

Allowing businesses to immediately write-off the full cost of installing clean energy equipment; and
Investing in the first ever completely electric mine, as well as the first zero-emissions aluminum smelter.

“From electric cars to renewable power, we’ve made huge leaps in what’s possible when it comes to protecting our air, our water, and our future,” said Mr. Trudeau. “While Conservatives want to make polluting free again, we’re looking forward — on the next generation of clean technology, built right here by Canadians.”

Backgrounder: Cutting taxes for clean tech businesses