🌱Canada planning $20-billion in subsidies for carbon capture, clean tech
Canada’s government will present legislation this month to start paying subsidies for carbon capture and net-zero energy projects, a source said.
A long delay in state support for carbon capture utilization and storage (CCUS) projects and for equipment used to produce low-carbon energy prompted industry lobbies to warn in September that some $50-billion worth of investments were at risk if the government did not act soon to provide some certainty for the sector.
Finance Minister Chrystia Freeland will announce the investment tax credit (ITC) funding when she presents the so-called Fall Economic Statement (FES) to parliament on Tuesday afternoon, the source added.
It will be included in the FES legislation to be sent to parliament later this month, the source said. Previous budget documents estimated all five of the ITC programs together would funnel an estimated $27-billion during their first five years in operation.
#energy
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Canada’s government will present legislation this month to start paying subsidies for carbon capture and net-zero energy projects, a source said.
A long delay in state support for carbon capture utilization and storage (CCUS) projects and for equipment used to produce low-carbon energy prompted industry lobbies to warn in September that some $50-billion worth of investments were at risk if the government did not act soon to provide some certainty for the sector.
Finance Minister Chrystia Freeland will announce the investment tax credit (ITC) funding when she presents the so-called Fall Economic Statement (FES) to parliament on Tuesday afternoon, the source added.
It will be included in the FES legislation to be sent to parliament later this month, the source said. Previous budget documents estimated all five of the ITC programs together would funnel an estimated $27-billion during their first five years in operation.
#energy
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🔋Concerns emerge over NextStar's plans to hire foreign workers for battery plant
NextStar Energy Inc.'s plans to bring foreign workers to help build a heavily subsidized battery plant in Windsor, Ont. has drawn concerns about why the jobs aren't going to Canadians.
Conservative Leader Pierre Poilievre said he is pushing for a full inquiry into the issue to find out how many workers the company plans to bring in from abroad. The plant is expected to receive upwards of $15 billion in publicly funded incentives.
Poilievre wrote on X.
NextStar Energy is a joint venture between automaker Stellantis and South Korea's LG.
#Poilievre #Ontario #energy
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NextStar Energy Inc.'s plans to bring foreign workers to help build a heavily subsidized battery plant in Windsor, Ont. has drawn concerns about why the jobs aren't going to Canadians.
Conservative Leader Pierre Poilievre said he is pushing for a full inquiry into the issue to find out how many workers the company plans to bring in from abroad. The plant is expected to receive upwards of $15 billion in publicly funded incentives.
Trudeau gives $15 billion of your tax dollars for a company to hire 1600 temporary foreign workers. Your money. Foreign jobs.
Poilievre wrote on X.
NextStar Energy is a joint venture between automaker Stellantis and South Korea's LG.
#Poilievre #Ontario #energy
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Canada's inflation rate cools to 3.1% but the cost of living keeps going up
Canada's consumer price index rose by 3.1 per cent in the year up to October, down from 3.8 per cent the previous month but in line with what economists were expecting.
Statistics Canada reported Tuesday that the biggest reason for the deceleration in the cost of living was a drop in the cost of gasoline, which declined by 6.4 per cent during the month of October alone, and is down by 7.8 per cent compared to where prices were a year ago.
If gasoline is stripped out of the numbers, the inflation rate would have been 3.6 per cent in October. That's slightly lower than the 3.7 per cent non-gasoline inflation rate clocked the month before.
Food prices increased at a 5.4 per cent pace over the past year. While that's still higher than the overall inflation rate, it's down from the 5.8 per cent annual pace seen in September.
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Canada's consumer price index rose by 3.1 per cent in the year up to October, down from 3.8 per cent the previous month but in line with what economists were expecting.
Statistics Canada reported Tuesday that the biggest reason for the deceleration in the cost of living was a drop in the cost of gasoline, which declined by 6.4 per cent during the month of October alone, and is down by 7.8 per cent compared to where prices were a year ago.
If gasoline is stripped out of the numbers, the inflation rate would have been 3.6 per cent in October. That's slightly lower than the 3.7 per cent non-gasoline inflation rate clocked the month before.
Food prices increased at a 5.4 per cent pace over the past year. While that's still higher than the overall inflation rate, it's down from the 5.8 per cent annual pace seen in September.
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🇨🇦🇨🇳Michael Spavor blames fellow prisoner Kovrig for Chinese detention, alleges he was used for intelligence gathering
One of the two Canadians jailed by China for nearly three years in a case that was at the heart of a diplomatic crisis is seeking a multimillion-dollar settlement from Ottawa alleging he was detained because he unwittingly provided intelligence on North Korea to Canada and allied spy services.
Michael Spavor alleges that the deception was conducted by fellow Canadian prisoner Michael Kovrig, and it was intelligence work by the latter that led to both men’s incarceration by Chinese authorities.
China arrested Mr. Spavor and Mr. Kovrig in December, 2018, on allegations of espionage in the aftermath of Canada’s detention of Huawei chief financial officer Meng Wanzhou on a U.S. extradition warrant.
Their arrest caused a major diplomatic incident between Canada and China that was ultimately resolved with their release in September 2021.
#China
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One of the two Canadians jailed by China for nearly three years in a case that was at the heart of a diplomatic crisis is seeking a multimillion-dollar settlement from Ottawa alleging he was detained because he unwittingly provided intelligence on North Korea to Canada and allied spy services.
Michael Spavor alleges that the deception was conducted by fellow Canadian prisoner Michael Kovrig, and it was intelligence work by the latter that led to both men’s incarceration by Chinese authorities.
China arrested Mr. Spavor and Mr. Kovrig in December, 2018, on allegations of espionage in the aftermath of Canada’s detention of Huawei chief financial officer Meng Wanzhou on a U.S. extradition warrant.
Their arrest caused a major diplomatic incident between Canada and China that was ultimately resolved with their release in September 2021.
#China
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🏠 Kids of homeowners twice as likely to own real estate in Canada
Adult children of homeowners were more than twice as likely to own a home as those of non-homeowners, according to a study by Statistics Canada based on 2021 data.
More than 17 per cent owned homes, compared with about eight per cent for the adult children of non-homeowners. Among adults whose parents owned multiple properties, the homeownership rate was almost 24 per cent.
While home prices have come down, it hasn’t been enough to offset higher mortgage costs and affordability has actually worsened. The Bank of Canada’s own housing affordability index is now near the highest level since 1990.
#housing
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Adult children of homeowners were more than twice as likely to own a home as those of non-homeowners, according to a study by Statistics Canada based on 2021 data.
More than 17 per cent owned homes, compared with about eight per cent for the adult children of non-homeowners. Among adults whose parents owned multiple properties, the homeownership rate was almost 24 per cent.
While home prices have come down, it hasn’t been enough to offset higher mortgage costs and affordability has actually worsened. The Bank of Canada’s own housing affordability index is now near the highest level since 1990.
#housing
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Forwarded from ASIANOMICS
🇨🇦🇺🇸🇨🇳 Canadian parliamentary delegation visits US Congress to discuss China policies
Members of a special Canadian parliamentary committee on China met with their US counterparts for the first time last week, signaling closer alignment of the two legislatures’ approaches towards Beijing.
Seven members from Canada’s top four political parties met with a bipartisan group of representatives from the US House select committee on China, as well as with members of other House and Senate committees.
Ken Hardie, chair of the Canadian group, suggested that the US and Canada could coordinate on responses to Beijing’s alleged attempts to target the Chinese diaspora and influence education in both countries.
#Canada #USA #China
@asianomics
Members of a special Canadian parliamentary committee on China met with their US counterparts for the first time last week, signaling closer alignment of the two legislatures’ approaches towards Beijing.
Seven members from Canada’s top four political parties met with a bipartisan group of representatives from the US House select committee on China, as well as with members of other House and Senate committees.
Ken Hardie, chair of the Canadian group, suggested that the US and Canada could coordinate on responses to Beijing’s alleged attempts to target the Chinese diaspora and influence education in both countries.
#Canada #USA #China
@asianomics
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🇨🇦🇱🇻🪖Canada's Leopard 2 tanks arrive in Latvia to bolster growing NATO mission
The Canadian Armed Forces has completed its promised deployment of 15 Leopard 2 battle tanks to Latvia in an effort to create a combat-ready NATO brigade in Eastern Europe.
The squadron of Leopard 2 tanks arrived in Latvia on Nov. 10 along with a detachment of support personnel and equipment, a Department of National Defence spokesperson confirmed Tuesday. The planned deployment was announced in June.
In July, Prime Minister Justin Trudeau visited Latvia, where he committed $2.6 billion to renewing and expanding the Canadian Forces mission to Central and Eastern Europe over the next three years.
#NATO #Latvia
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The Canadian Armed Forces has completed its promised deployment of 15 Leopard 2 battle tanks to Latvia in an effort to create a combat-ready NATO brigade in Eastern Europe.
The squadron of Leopard 2 tanks arrived in Latvia on Nov. 10 along with a detachment of support personnel and equipment, a Department of National Defence spokesperson confirmed Tuesday. The planned deployment was announced in June.
In July, Prime Minister Justin Trudeau visited Latvia, where he committed $2.6 billion to renewing and expanding the Canadian Forces mission to Central and Eastern Europe over the next three years.
#NATO #Latvia
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⚡️🇨🇦🇺🇸Explosion on US-Canada border
An incident involving a car entering the US from Canada via the Rainbow Bridge in Niagara Falls has shut access in both directions.
#US
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An incident involving a car entering the US from Canada via the Rainbow Bridge in Niagara Falls has shut access in both directions.
#US
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⚡️🇨🇦🇺🇸 Initial images from the scene of a reported vehicle explosion at the Rainbow Bridge border crossing.
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🇨🇦🇺🇸 Erie County, NY, bomb squad is responding to the vehicle explosion at the Rainbow Bridge border crossing.
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🇨🇦🇺🇸According to Fox News, the FBI is investigating the vehicle explosion at the Rainbow Bridge border crossing as an attempted terrorist attack.
Two people were reportedly in the car at the time of the explosion, both of them were killed. One border patrol agent was injured.
The vehicle was driving from the U.S. to Canada and was attempting to drive toward the border officer building.
Peace Bridge, Lewiston-Queenston Bridge, and Whirlpool Bridge are also closed as the incident is investigated.
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Two people were reportedly in the car at the time of the explosion, both of them were killed. One border patrol agent was injured.
The vehicle was driving from the U.S. to Canada and was attempting to drive toward the border officer building.
Peace Bridge, Lewiston-Queenston Bridge, and Whirlpool Bridge are also closed as the incident is investigated.
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🇨🇦🇺🇸 Police have determined that reckless driving was the cause of the explosion at the border crossing
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🇨🇦🇺🇸 A population of hard-to-eradicate ‘super pigs’ in Canada is threatening to invade the US
An exploding population of hard-to-eradicate “super pigs” in Canada is threatening to spill south of the border, and northern states like Minnesota, North Dakota and Montana are taking steps to stop the invasion.
In Canada, the wild pigs roaming Alberta, Saskatchewan and Manitoba pose a new threat. They are often crossbreeds that combine the survival skills of wild Eurasian boar with the size and high fertility of domestic swine to create a “super pig” that’s spreading out of control.
Pigs are not native to North America. While they’ve roamed parts of the continent for centuries, Canada’s problem dates back only to the 1980s when it encouraged farmers to raise wild boar. The market collapsed after peaking in 2001 and some frustrated farmers simply cut their fences, setting the animals free.
They reproduce quickly. A sow can have six piglets in a litter and raise two litters in a year. That means 65% or more of a wild pig population could be killed every year and it will still increase.
#US
🍁 Maple Chronicles
An exploding population of hard-to-eradicate “super pigs” in Canada is threatening to spill south of the border, and northern states like Minnesota, North Dakota and Montana are taking steps to stop the invasion.
In Canada, the wild pigs roaming Alberta, Saskatchewan and Manitoba pose a new threat. They are often crossbreeds that combine the survival skills of wild Eurasian boar with the size and high fertility of domestic swine to create a “super pig” that’s spreading out of control.
Pigs are not native to North America. While they’ve roamed parts of the continent for centuries, Canada’s problem dates back only to the 1980s when it encouraged farmers to raise wild boar. The market collapsed after peaking in 2001 and some frustrated farmers simply cut their fences, setting the animals free.
They reproduce quickly. A sow can have six piglets in a litter and raise two litters in a year. That means 65% or more of a wild pig population could be killed every year and it will still increase.
#US
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📔Fall Economic Statement 2023: $40B deficit projected
The federal government's fall economic statement presented by Deputy Prime Minister and Finance Minister Chrystia Freeland on Tuesday includes billions of dollars in new spending and targeted policy measures aimed at increasing Canada's housing supply in the years ahead, with the deficit projected to be $40 billion in 2023-24.
The 2023 fall economic statement outlines $20.8 billion in additional spending over the next six years, beyond what was announced in the 2023 federal budget.
Freeland has announced Canada will be putting billions into building new homes, increasing the number of construction workers, cracking down on short-term rentals and grocery competition, as well as rolling out green investment tax credits.
#Freeland
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The federal government's fall economic statement presented by Deputy Prime Minister and Finance Minister Chrystia Freeland on Tuesday includes billions of dollars in new spending and targeted policy measures aimed at increasing Canada's housing supply in the years ahead, with the deficit projected to be $40 billion in 2023-24.
The 2023 fall economic statement outlines $20.8 billion in additional spending over the next six years, beyond what was announced in the 2023 federal budget.
Freeland has announced Canada will be putting billions into building new homes, increasing the number of construction workers, cracking down on short-term rentals and grocery competition, as well as rolling out green investment tax credits.
#Freeland
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📈Canada expects unemployment to rise 211k within months, mostly immigrants
The Fall Economic Statement’s unemployment forecast shows an increase of 0.8 points to 6.5% by Q2 2024. That would see unemployment rise by 170k people to 1.4 million, if population growth is excluded.
If population growth is taken into account, unemployment would rise 17.2% (by 211k) to 1.44 million people.
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The Fall Economic Statement’s unemployment forecast shows an increase of 0.8 points to 6.5% by Q2 2024. That would see unemployment rise by 170k people to 1.4 million, if population growth is excluded.
If population growth is taken into account, unemployment would rise 17.2% (by 211k) to 1.44 million people.
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Ottawa giving $7 million to Peel region to open reception centre for asylum seekers
On Thursday, the Region of Peel accepted $7 million for a reception centre to be built near Toronto Pearson International Airport with federal funding.
The new reception space will be designed to help asylum seekers in the region who are struggling to find housing as winter approaches, both local and federal politicians said.
The announcement comes a week after an asylum seeker was found dead at an encampment outside a shelter on Dundas Street in Mississauga.
#Ontario
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On Thursday, the Region of Peel accepted $7 million for a reception centre to be built near Toronto Pearson International Airport with federal funding.
The new reception space will be designed to help asylum seekers in the region who are struggling to find housing as winter approaches, both local and federal politicians said.
The announcement comes a week after an asylum seeker was found dead at an encampment outside a shelter on Dundas Street in Mississauga.
#Ontario
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🚙 Ontario sets aside $18M for police forces to fight auto theft
In an announcement Friday morning in Mississauga, Ontario Premier Doug Ford unveiled provincial grant funding to help local police forces deal with auto theft.
The grant is worth $18 million over three years and has been earmarked for 21 projects, according to the province. Some of the items include surveillance and tracking equipment, specialized training and improving data tracking and management.
Car thefts in Ontario jumped 31 per cent in the first half of 2023 compared with the year before, according to the province.
#Ontario
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In an announcement Friday morning in Mississauga, Ontario Premier Doug Ford unveiled provincial grant funding to help local police forces deal with auto theft.
The grant is worth $18 million over three years and has been earmarked for 21 projects, according to the province. Some of the items include surveillance and tracking equipment, specialized training and improving data tracking and management.
Car thefts in Ontario jumped 31 per cent in the first half of 2023 compared with the year before, according to the province.
#Ontario
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🛢Canada oil, gas producers to drill 8% more wells in 2024
Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open, an industry group said in an annual forecast on Friday.
Producers will drill 6,229 wells next year, up 481 from 2023, the Canadian Association of Energy Contractors predicted.
The Trans Mountain expansion is scheduled to start shipping crude late in the first quarter of 2024, while the Coastal GasLink is approaching mechanical completion.
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Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open, an industry group said in an annual forecast on Friday.
Producers will drill 6,229 wells next year, up 481 from 2023, the Canadian Association of Energy Contractors predicted.
The Trans Mountain expansion is scheduled to start shipping crude late in the first quarter of 2024, while the Coastal GasLink is approaching mechanical completion.
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🇨🇦🇪🇺EU-Canada summit
Formal talks began Friday between Canadian Prime Minister Justin Trudeau and two top heads of the European Union.
European Council President Charles Michel and European Commission President Ursula von der Leyen are in St. John’s, N.L., for the 19th EU-Canada Summit.
Prime Minister Trudeau announced Canada is joining the European Union's $100-billion scientific research program, called Horizon Europe.
Canada has also worked out a deal to build water bombers and ship them to the EU, after both regions faced devastating forest fires this past summer.
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Formal talks began Friday between Canadian Prime Minister Justin Trudeau and two top heads of the European Union.
European Council President Charles Michel and European Commission President Ursula von der Leyen are in St. John’s, N.L., for the 19th EU-Canada Summit.
Prime Minister Trudeau announced Canada is joining the European Union's $100-billion scientific research program, called Horizon Europe.
Canada has also worked out a deal to build water bombers and ship them to the EU, after both regions faced devastating forest fires this past summer.
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🇨🇦🇺🇦🇺🇸PM Justin Trudeau claims conservative Canadians are turning their backs on Ukraine because of American MAGA propaganda
Trudeau said during the EU-Canada summit.
#Trudeau #US #Ukraine
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“The real story is the rise of a right-wing American, MAGA influence thinking that has made Canadian Conservatives, who used to be among the strongest defenders of Ukraine … turn their backs on something Ukraine needs in its hour of need”
Trudeau said during the EU-Canada summit.
#Trudeau #US #Ukraine
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