SummarySpren for "C-59, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 21, 2023 and certain provisions of the budget tabled in Parliament on March 28, 2023"
- • Canada is well-positioned to lead the global clean economy transition with a projected 60% of the world's power coming from renewable energy by 2030, representing an investment opportunity of up to $10 trillion by 2050.
• Canada's critical minerals strategy is a key component of the country's clean economy plan, with abundant resources in critical minerals like lithium, cobalt, and nickel, and a focus on sustainable extraction and global leadership in supply chains for technologies like electric vehicles and renewable energy.
- • The carbon tax is disproportionately affecting low-income Canadians in Barrie-Innisfil, with 82.5% of respondents to a survey not supporting the tax and 15% supporting it.
• The fall economic statement lacks fiscal guardrails, leading to increasing debt and deficit, and the impact of mortgage rates on homeowners in Barrie-Innisfil, with a self-employed person unable to get a mortgage from their bank and facing a 9% interest rate from a secondary lender.
- • Bill C-59 would make mental health care more affordable by removing the GST and HST on counselling and psychotherapy services, and introduce new, paid leave for federally regulated workers to support families who experience pregnancy loss.
• The bill would also introduce new measures to support a strong middle class, including enshrining clean investment tax credits in law and providing businesses with an incentive to pay a prevailing union wage, as well as removing the GST on new rental home construction for co-op housing to increase housing supply.