The Green Shift for businesses

Submitted by
Ken Boshcoff M.P.

As I indicated in a previous column, the Liberal Green Shift plan is as powerful as it is simple. We will cut taxes on those things we all want more of such as income, investment and innovation. And we will shift those taxes to what we all want less of: pollution, greenhouse gas emissions and waste.

I firmly believe that greening the economy will also attract investment and create jobs. The Green Shift plan will see corporations having their tax rate cut so they can invest more money in their own practices, reduce their own polluting and increase their energy efficiency. The general corporate rate will be reduced by one full point, as will the small business income tax rate.

A Liberal Government will also set aside $600 million to allow accelerated capital cost allowance rates for investment in industrial technologies that reduce greenhouse gas pollution and significantly improve energy efficiency.

The Green Shift plan will provide further help for private sector investments in research and development, by making more broadly available the Science, Research and Experimental Development tax credit. We need more innovation and that’s what we would get through this improved tax credit for research and development.

The Green Shift plan complements other Liberal commitments to green our economy such as: the Renewable Power Production Incentive that will more than double the non-emitting energy sources available to Canadians; the $1-billion Advanced Manufacturing and Prosperity fund that will stimulate green manufacturing; and the major Infrastructure Surplus commitment to upgrade our sustainable infrastructure such as public transit through unanticipated surpluses.

Each of these programs will work hand in hand with the Green Shift to attract business and develop a sustainable green economy with one of the most competitive tax jurisdictions in the world.

As I’ve said before, the time has come to do what is right – not what is easy – for our environment and our future. For more information, please visit www.thegreenshift.ca