Businesses call for quick action on green tax credits

Survey shows 90% of firms want fast-tracked clean economy incentives

Businesses call for quick action on green tax credits

A KPMG poll in Canada, as reported by The Canadian Press, highlights a strong desire among business leaders for the government to accelerate the implementation of "green" or "clean" economy business investment tax credits.

Conducted online in February, the survey gathered responses from 534 small- and medium-sized businesses, revealing that 90 percent of participants advocate for the swift delivery of these promised incentives.

Lucy Iacovelli of KPMG underscores the necessity of substantial business investments to meet climate challenges and transition towards a net-zero economy.

She emphasizes the importance of making clean energy investment tax credits readily accessible to companies to prevent Canada from lagging behind the US and other major economies in the clean energy sector.

The poll also shows that 83 percent of the businesses surveyed acknowledge the need for additional assistance and incentives to support their decarbonization efforts.

Furthermore, 80 percent of respondents favor the federal government providing green-related investments or incentives to encourage foreign companies to establish operations in Canada. This suggests widespread support for measures that bolster Canada's position in the global clean economy.