PwC Federal Budget Instant Reaction: Certain measures for a greener Canada



    OTTAWA, Jan. 27 /CNW/ - PricewaterhouseCoopers (PwC) Canada tax
specialists commented today:

    The details of greenhouse gas (GHG) emissions regulation and trading
schemes will have a significant impact on business, and several issues are
likely to present considerable challenges moving forward. Budget 2009 provided
for certain measures to make Canada more environmentally sound.

    
    Measures included:
    -   $1 billion for green infrastructure projects.
    -   $1 billion over two years for renovation and energy retrofits to
        social housing.
    -   $300 million over two years to the ecoENERGY Retrofit program.
    -   $1 billion for clean energy research, development and demonstration
        projects.
    -   $87 million over two years for key Arctic research facilities.
    -   $245 million over two years for the cleanup of federal contaminated
        sites.
    -   $10 million to improve government environmental reporting.
    

    The current political landscape in North America demonstrates significant
climate change policy activity occurring at both the federal and
provincial/state levels. These policies will have a significant impact on the
future of environmental regulation, as climate change remains one of the top
societal, economic and political concerns of the 21st century.
    According to scientific consensus, the effects of climate change will
continue to grow and mitigation and adaptation measures will eventually need
to be implemented.
    A PwC Budget Flash with additional Budget highlights will be issued later
today followed by a detailed Budget Memo. For more information and detailed
commentary on the Budget please contact, Carolyn Forest,
carolyn.forest@ca.pwc.com, 416-814-5730 or visit www.pwc.com/ca/budget.

    PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance,
tax and advisory services to build public trust and enhance value for its
clients and their stakeholders. More than 155,000 people in 153 countries
across our network share their thinking, experience and solutions to develop
fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP
(www.pwc.com/ca) and its related entities have more than 5,200 partners and
staff in offices across the country.
    "PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario
limited liability partnership, or, as the context requires, the
PricewaterhouseCoopers global network or other member firms of the network,
each of which is a separate and independent legal entity.




For further information:

For further information: Carolyn Forest, PricewaterhouseCoopers LLP,
(416) 814-5730, carolyn.forest@ca.pwc.com

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FEDERAL BUDGET 2009

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