Minister Carr highlights Federal Budget benefits for Canadians

Thursday, March 24, 2016      
 

The Honourable Jim Carr, Canada's Minister of Natural Resources, today addressed the Winnipeg Chamber of Commerce, where he discussed Budget 2016 and reinforced the Government of Canada's commitment to growing the middle class and revitalizing the Canadian economy.

During his remarks, Minister Carr described the government's ambitious, long-term plan to strengthen the heart of Canada's economy - the middle class - and underscored the importance of smart, strategic investments that will bring Canadians good jobs, a cleaner environment and thriving communities. He also highlighted Budget 2016 investments in education, infrastructure, training and other programs that will help to secure a better quality of life for Indigenous peoples and build a stronger, more unified and more prosperous Canada.

Minister Carr spoke to Budget 2016 measures to support clean technology, including: funding for research, development and demonstration of clean energy technologies; deployment of infrastructure for alternative transportation fuels; and investment in technologies that will reduce greenhouse gas emissions from the oil and gas sector. He also highlighted a number of Budget 2016 initiatives that will support Canada's natural resource sectors, important drivers for Canada's economy.

Quick Facts

  • Budget 2016 allocates $87.2 million over two years for Natural Resources Canada projects across the country supporting research in forestry, mining and minerals, earth sciences and mapping, and innovation in energy technology.
  • On January 27, 2016, the Government of Canada articulated interim principles to guide federal environmental assessments for major natural resource projects. Budget 2016 proposes to provide $16.5 million over three years, starting in 2016-17, to the National Energy Board, Natural Resources Canada and Transport Canada to implement the interim approach.
  • Given the challenges facing junior mining companies, the Government will extend the Mineral Exploration Tax Credit for an additional year, until March 31, 2017. It is estimated that this measure will result in a net reduction in federal revenues of $20 million over the 2016-17 to 2017-18 period.

Quote

'Our government's plan lays out solid steps that will empower Canadians - especially the middle class - to build better lives for themselves and to benefit from and contribute to the growth of our country. Our investments are strategic. Support for a clean growth economy will diversify our economy, open access to new markets, reduce greenhouse gas emissions and create good, well-paying jobs.'


 

Article Tags

Canada North America Finance


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


Related News


Join 80,000 oil and gas professionals who receive our weekly newsletter.

You may unsubscribe at any time with one click.

Popular Headlines View all


Latest Opinion View all

Join 90,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile

Time for a change? All jobs Jobs near you


About

OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Newsletter

Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact OilVoice

Milton Keynes
United Kingdom
Contact Us


Stay Connected


2016 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us