Businesses want outstanding ‘green’ investment tax credits fast-tracked: KPMG poll

TORONTO — A survey by KPMG in Canada says business leaders want Ottawa to fast-track all outstanding “green” or “clean” economy business investment tax credits.

The online survey of 534 small- and medium-sized businesses done in February says 90 per cent of those questioned supported speeding up the delivery of the promised incentives.

KPMG’s Lucy Iacovelli says meeting the climate challenges and retooling the economy requires significant business investment to decarbonize and build the net-zero industries and technologies.

To deliver, Iacovelli says Ottawa needs to make it fast and easy for companies to access the clean energy investment tax credits or they risk falling further behind U.S. and other major economies.

The survey found 83 per cent of the businesses say they require more assistance and incentives to decarbonize.

Eighty per cent of those surveyed also supported federal green-related investments or incentives to attract foreign companies to locate in Canada.

This report by The Canadian Press was first published March 18, 2024.

The Canadian Press