PwC Federal Budget instant reaction: Forestry industry receives $100 million
in support over next four years

TORONTO, March 4 /CNW/ - PwC tax specialists commented today:

The forestry sector in Canada represents an important economic industry in many regions, but faces a number of challenges in terms of competition and structural changes within the industry. On the heels of the support through the Economic Action Plan, the Government is taking additional action to build by establishing the Next Generation Renewable Power Initiative with $100 million of support over the next four years for the development, commercialization and implementation of advanced clean energy technologies in the forestry sector.

Managed by Natural Resources Canada, the Government believes this will help create a more sustainable forestry sector while contributing to Canada's Global leadership as a clean energy producer.

A PwC Budget Flash with additional Budget highlights has been issued today followed by a detailed Budget Memo later this evening. For more information and detailed commentary on the Budget please contact, Kiran Chauhan, kiran.chauhan@ca.pwc.com, 416-947-8983 or visit www.pwc.com/ca/budget.

About PricewaterhouseCoopers LLP

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 163,000 people in 151 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 5,300 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 legal entity.

SOURCE PwC

For further information: For further information: Kiran Chauhan, (416) 947-8983, kiran.chauhan@ca.pwc.com

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FEDERAL BUDGET 2010

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