BURNABY, BC, April 11, 2022 /CNW/ - Through Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, the government of Canada makes targeted and responsible investments to create good jobs, grow our economy, and build a Canada where nobody gets left behind.
Today, Minister of Employment, Workforce Development and Disability Inclusion Carla Qualtrough, met with Nano One Materials Corp. in Burnaby, British Columbia to highlight Canada's investments in the green transition – particularly zero-emission vehicles and their supporting technology and infrastructure.
Budget 2022 invests in Canada's future and the clean economy that will drive it. To help Canadians and Canadian businesses benefit from the global transition to a clean economy, Budget 2022 includes new incentives for the development of clean technologies and carbon capture, utilization, and storage.
In addition to further investments to protect our land, lakes, and oceans, the government will also make it more affordable for Canadians to purchase zero-emission vehicles, build and expand a national network of zero-emission vehicle charging stations, and make new investments in clean energy. With on-road transportation accounting for 20 per cent of Canada's greenhouse gas emissions, these investments are a critical part of Canada's path to net-zero.
Canada entered the pandemic with the lowest net debt-to-GDP ratio of all G7 countries—an advantage that has since increased relative to other countries. Canada has seen the best jobs recovery in the G7, and as of March 2022, has recovered 115 per cent of the jobs lost at the height of the pandemic, with an unemployment rate that sits at just 5.3 per cent—the lowest rate on record since 1976.
With Budget 2022, Canada will maintain this leading position, and maintain its fiscally responsible approach to economic growth and to building an economy that works for everyone. Crucially, it upholds the government's fiscal anchor—a declining debt-to-GDP ratio and the unwinding of COVID-19-related deficits, which will ensure that Canada's finances remain sustainable in the long-term.
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"Budget 2022 is about growing our economy, creating good jobs, and building a Canada where nobody gets left behind. Our plan is responsible and considered, and it is going to mean more homes and good-paying jobs for Canadians; cleaner air and cleaner water for our children; and a stronger and more resilient economy for years to come."
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
"Budget 2022 was developed with businesses like Nano One in mind. It's a plan to invest in the kind of innovation and technology that will spur sustainable, economic growth, and a plan to make greener choices, like driving electric, more affordable for Canadians."
The Honourable Carla Qualtrough, Minister of Employment, Workforce Development and Disability Inclusion
"We are grateful to have the opportunity to showcase our facility where our team of over 60 people is developing innovative technologies to make battery materials more sustainable and cost competitive. Critical minerals and their processing into battery materials will play a vital role in Canada's mines to mobility strategy in the global push for cleaner lithium-ion batteries."
Dan Blondal, CEO and Founder, Nano One
Quick Facts
- Measures in Budget 2022 to fight climate change include:
- More than $3 billion in funding to make zero-emission vehicles more affordable and build a national network of charging stations;
- Significant new investments to protect our land, lakes, and oceans; and
- The creation of the Canada Growth Fund to help attract tens of billions of dollars in private capital towards building a net-zero economy by 2050.
Reducing Emissions on the Road
On-road transportation accounts for 20 per cent of Canada's greenhouse gas emissions.
- To accelerate the manufacturing and adoption of cleaner cars, the federal government will put in place a sales mandate to ensure at least 20 per cent of new light-duty vehicle sales will be zero-emission vehicles (ZEVs) by 2026, at least 60 per cent by 2030 and 100 per cent by 2035.
- To reduce emissions from medium- and heavy-duty vehicles (MHDVs), the federal government will aim to achieve 35 per cent of total MHDV sales being ZEVs by 2030.
- In addition, the federal government will develop a medium- and heavy-duty ZEV regulation to require 100 per cent MHDV sales to be ZEVs by 2040 for a subset of vehicle types based on feasibility, with interim 2030 regulated sales requirements that would vary for different vehicle categories based on feasibility, and explore interim targets for the mid-2020s.
Making the Switch to Zero-Emission Vehicles More Affordable
To help make ZEVs more affordable for Canadians, the federal government has offered purchase incentives of up to $5,000 for eligible vehicles since 2019. This program has helped Canadians purchase or lease over 136,000 new ZEVs, but more support is needed to help Canadians get behind the wheel of zero-emission vehicles.
- Budget 2022 proposes to provide $1.7 billion over five years, starting in 2022-23, with $0.8 million in remaining amortization, to Transport Canada to extend the Incentives for Zero-Emission Vehicles (iZEV) program until March 2025. Eligibility under the program will also be broadened to support the purchase of more vehicle models, including more vans, trucks, and SUVs, which will help make ZEVs more affordable. Further details will be announced by Transport Canada in the coming weeks.
Building a National Network of Electric Vehicle Charging Stations
Since 2015, the federal government has helped build almost 1,500 charging stations across the country. As more and more Canadians adopt zero-emission vehicles, we need to build the charging infrastructure that drivers can rely on, no matter where they're going.
- Budget 2022 announces that the Canada Infrastructure Bank will invest $500 million in large-scale urban and commercial ZEV charging and refuelling infrastructure. Funding will be sourced from the Canada Infrastructure Bank's existing resources under its green infrastructure investment priority area.
- Budget 2022 proposes to provide $400 million over five years, starting in 2022-23, to Natural Resources Canada to fund the deployment of ZEV charging infrastructure in sub-urban and remote communities through the Zero-Emission Vehicle Infrastructure Program (ZEVIP).
- Budget 2022 proposes to provide $2.2 million over five years, starting in
2022-23, to Natural Resources Canada to renew the Greening Government Operations Fleet Program, which will continue to conduct readiness assessments of federal buildings required to facilitate the transition of the federal vehicle fleet to ZEVs.
Helping Businesses Switch to Medium- and Heavy-Duty Zero-Emission Vehicles
Businesses across Canada want to upgrade their fleets to be part of the solution to climate change. However, those upgrades can be expensive, and businesses need to be confident that ZEVs can reliably transport their goods to market.
- Budget 2022 proposes to provide $547.5 million over four years, starting in 2022-23, to Transport Canada to launch a new purchase incentive program for medium- and heavy-duty ZEVs.
- Budget 2022 proposes to provide $33.8 million over five years, starting in 2022-23, with $42.1 million in remaining amortization, to Transport Canada to work with provinces and territories to develop and harmonize regulations and to conduct safety testing for long-haul zero-emission trucks.
- To help decarbonize vehicles already on the road, Budget 2022 proposes to provide $199.6 million over five years, starting in 2022-23, and $0.4 million ongoing, to Natural Resources Canada to expand the Green Freight Assessment Program, which will be renamed the Green Freight Program. This will support assessments and retrofits of more vehicles and a greater diversity of fleet and vehicle types.
With these investments, the government is taking a significant step towards reducing pollution on our roads, and is on track to meet its commitment to add 50,000 new ZEV chargers and hydrogen stations across Canada.
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SOURCE Employment and Social Development Canada
Media may contact: Jane Deeks, Director of Communications, Office of the Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough, [email protected]; Media Relations, Department of Finance Canada, [email protected], 613-369-4000
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